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Message: Is the Bank of America shorting gold today?

Is the Bank of America shorting gold today?

posted on Feb 03, 2009 10:29AM

Back in summer of last year two or three banks were to have massively shorted gold and silver according to a report by Ted Butler. They became active when gold was in the $920 to $925 area. On Friday's close gold was at $927 or so. Have they been trying the same thing over again? Personally, I believe Bank of America is shorting gold today for the reason that their stock is $5.28 down $0.72. It is my belief that they are becoming concerned that folks that see their share price tanking today may be inclinded to withdraw deposits from the bank and put them into gold. So what do they do? They knock gold lower hoping to dissaude these people from thinking about investing in gold and keeping the capital for them in the bank. Could it be that simple to explain today's weakness as Dan Norcini is searching for explanations?

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