What with the sudden weak market for precious metals names this week, the random and often disjointed thoughts of your humble scribe turned to the well-publicized short position in Asanko Gold (AKG) (AKG.to) taken out by the jolly chaps at K2 Associates and revealed to the market in late June. Let’s see how that’s been getting on since then by comparing the AKG squiggly line to that of the Gold & Silver Index (XAU):
Answer: Moot. Nothing to report. No biggie. Undecided. Though we should note that K2 certainly built at least part and perhaps all its short position before the June 28th date when it published its hitpiece report, so they’d probably be able to claim a small win on the trade to date.
IKN was, is and will remain neutral on this whole affair. But it’s a fun one, so an eye will be kept on proceedings.