Thursday, 4 August 2011

London Trader - Expect Gold & Silver Spike From Short Covering

The action is very positive.  If there is a pit (Comex) close above $1,680, gold will race to $1,705 because of all of the buy stops above $1,680.  There are a tremendous number of shorts in the gold market and a significant number of them will capitulate and close out their shorts above that level.” 

- London Trade, King World News