Here is an article from the delightful Mogambo Guru pointing out that gold shorts collectively owe 1/3 of all the physical gold ever mined, and might (?) have a wee bit of a hard time delivering, especially if in the process they drive gold prices up.

enjoy.

As to short-term price action, pardon me if I pay no attention, except to be pleased if there is a floor under the KXL price - but even that I won't hang my hat on.  The coming weeks and months will tell the story.

I hope the next news (mid-March?  who knows) is good, but whether or not the next NR is, over time a number of NR's should tell a positive story.

The credit markets are collapsing, tip of the iceberg so far - not good for stocks - but there is huge money in cash right now.  Once there is market capitulation, money finds exploration stocks.  KXL is a good bet

best regards / cedartree