We Are In The Early Stages Of A Massive Short Squeeze In Gold

"Today one of the most respected institutional minds in the entire financial world told King World News that we are in the early stages of what will be a massive short squeeze in the gold market.  John Hathaway, of Tocqueville Asset Management L.P., is one of the great original thinkers in the business, and his fund was awarded a coveted 5-star rating.  Below is what Hathaway had to say about the developing massive short squeeze in gold. 

Hathaway:  “I think the story of the day is the disconnect between physical gold and paper.  I just saw a note this morning about the most current drop in COMEX warehouse inventories.  Brinks also reported this week that their inventories were down 55%....

“We also have what’s been happening with the gold lease rates.  This is just another indication of how hard physical gold is to come by.  Bernanke also basically made a U-turn on QE by essentially saying we are going to be in this easy money mode for a long, long time.  He definitely backed away from ending QE in mid-2014.

I think the shorts had been ganging up on gold with the view that there would be some sort of exit, and now it’s nowhere in sight.  So now some of the shorts are running for cover.  But if I’m at the Fed, I am looking at a huge mess.  We also know that Bernanke is on his way out..."

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/11_We_Are_In_The_Early_Stages_Of_A_Massive_Short_Squeeze_In_Gold.html