Just Like Old Times

Tue, May 11, 2021 - 10:50am

The more things change, the more they stay the same. In an event reminiscent of Cartel smashes in the past, The Banks added nearly 46,000 contracts to the Comex gold open interest in the Thursday-Monday time period. Today's smash was just the inevitable conclusion.

And we discussed this is yesterday's podcast. The Banks had already added 28,569 new Comex gold contracts on Thursday and Friday. What we didn't know at the time was that they added another 17,289 contracts while aggressively capping price yesterday to contain the momentum out of the extremely bullish BLSBS of Friday...

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Key Economic Events Week of 8/2

8/2 9:45 ET Markit Manu PMI
8/2 10:00 ET ISM Manu PMI
8/3 10:00 ET Factory Orders
8/4 8:15 ET ADP Jobs report
8/4 9:45 ET Markit Service PMI
8/4 10:00 ET ISM Service PMI
8/6 8:30 ET BLSBS

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