"Because so few of the world’s real producers, consumers and investors deal on the COMEX, the exchange has developed into a 'bucket shop' or a private betting parlor exclusively comprised of speculators. Again, this is an intentional development as much more trading volume is generated by speculative High Frequency Trading (HFT) than by legitimate hedgers (like miners) transferring risk to speculators.
Legitimate hedgers don’t day trade. It is no exaggeration to say that the COMEX has been captured by speculators and abandoned by legitimate hedgers."
Ted Butler, Butler Research LLC, March 19, 2014
You may wish to keep what Ted Butler has said in mind.
I find it difficult to understand how so many otherwise intelligent people are willing to blind themselves to what is going on.
Have a pleasant evening.
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