On this weeks show we discuss the best press releases of the week from Small-Cap TV:
- Parkside Resources (PKS.V) interesting drill results from project in Ontario.
- Aroway Energy (ARW.V) increases proven reserves of oil equivalent by 246%.
- SilverCrest Mines (SVL.V) solid pre-feasibility study from Mexico silver play.
- Almaden Minerals (AMM.T) hits solid drill results on gold 7 silver play in Mexico
- Virtutone Networks (VFX.V) from $2.8M In Annual Revenue to $2.5M in Monthly Revenue
Gold & commodities manipulation theory is now going mainstream. Spot gold spiked up $45 on Monday and the media pundits pointed to things from China to the FOMC. While all the cited may have been factors, veteran traders saw the bulk of the move resting in a conspiracy story.
- ART CASHIN A key support of these theories is the backwardation in gold – the spot price is higher than the near future contract. That’s unusual. It could normally be resolved by selling spot gold and buying the cheaper future one month out. Thus, in a month, you would reap an apparent locked-in, riskless profit. Yet no one seems to be doing it. Is there doubt that there is gold in storage that will be deliverable in a month?
- This weekend, the New York Times reported that Goldman Sachs has allegedly been using its aluminum warehouses to manipulate the price of the metal.
- JP Morgan is in negotiations with FERC, a federal energy regulator, to settle charges that its traders manipulated energy markets in the western U.S., they could pay up to $410 million.
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