UBG - Gold: The End Of An Era And Price Manipulation

Over the past seven or eight years, with the removal of the uptick rule, central banks and big institutions could short the gold and silver markets without the ability of buyers to get out of a position. By selling short on the paper market, price discovery got skewed far below where the real price should have been. The paper shorts that were sold were far in excess of the physical amount of gold that was available. The collapse of the market in March this year meant that the shorts suddenly could not cover and the