Submitted by Ronan Manly, BullionStar.com
The following article is arranged in Question and Answer (Q & A) format. Through the Q & A approach, this article raises some important issues about price discovery in the gold markets and aims to explain the view that the gold price is being set by the paper gold markets.
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The Market Has Its Head Buried Deep In The Sand
Posted with permission and written by Dave Kranzler (CLICK HERE FOR ORIGINAL)
WTI and RBOB prices have drifted higher after modest weakness following API's inventory data overnight and then spiked after DOE reported a smaller than expected crude build, and bigger than expected gasoline and distillate draws. Following the lage rig count data, US crude production rose once again to its highest since Feb 2016.
API
DOE
Shots were fired this morning near the U.S. Capitol in Washington, D.C. According to ABC, Capitol Police responded to the area at Washington Ave and Independence Ave, which is located near the U.S. Botanic Garden and the Rayburn House office building.
The suspect struck a Capitol Police cruiser and then tried running over several officers who were on foot, according to Metro DC Police. At one point Capitol Police fired shots, but no one was hit. The suspect was apprehended at 3rd and Independence Ave, and has been taken into custody.
So much flip-flopping from Dennis Gartman in just the past week, it is enough to make one's head spin.