JPM goes long, CB's retreat to new Maginot Line

Turd Ferguson of the TF Metals Report today analyzes the latest futures traders commitment reports in the United States and, echoing silver market analyst Ted Butler, finds that the biggest U.S. banks, including presumably JPMorganChase, have gone spectacularly long gold and that Morgan took 95 percent of all Comex gold deliveries in August:

http://www.tfmetalsreport.com/blog/4929/reconciliation

Presuming that Morgan remains the agent of the U.S. government, gold investors now may have reason to hope that the gold price suppression scheme is contemplating a retreat to a higher level as the real metal gets scarce as it did during the last weeks of the London Gold Pool:

http://en.wikipedia.org/wiki/London_Gold_Pool

In any case, as the fund manager and general Renaissance man James G. Rickards said a few years ago, "When you own gold you're fighting every central bank in the world

http://www.gata.org/node/12904