via FT Alphaville - Capping The Gold Price

The following chart either demonstrates that gold is capped where it is, or that it will experience backwardation and rise to new highs.

Remember that MF Global went banktrupt, whose rehypothecated accounts in bullion futures and the same for PFG Best applied undue pressure to the gold markets. A sell off in gold last week might mean that someone else is about to go banktrupt.

Perhaps Knight Capital?(that would be a big one.)

http://ftalphaville.ft.com/2012/12/07/1298491/capping-the-gold-price/

-F6