Gold and silver futures under strain

Hooray for an interest rate cut and to hell with inflation! But there are some weird happenings in Comex futures, particularly a large short position in the gold contract.

In this market report, we draw attention to some interesting developments in Comex’s gold and silver contracts, illustrating the systemic strains emerging in these two markets. It is against a background of the Fed abandoning pretence of managing inflation.

But first, we cover this week’s market developments.