We can assert the trend is down because of lower lows and lower highs. What can be seen, at this point, is a very small range, so far, following a small range in May that closed poorly. What we know for certain is that the downtrend has not yet changed, so lower prices can be expected. We may hold an opinion that gold will ultimately be considerably higher in value, but there is no confirmation that price has begun to rally.
Tag: gold & silver manipulation
Now the gold and silver futures markets are not being used for their original purpose, but are being used to manipulate prices by some entity that does not want to see prices of precious metals move higher. It is widely known that central banks and other major financial institutions have been manipulating Libor, bonds, equities as well as the foreign exchange market. So, it is absolutely plausible that they are manipulating precious metals, in particular gold and silver. What does this mean for investors?
It appears that the multi-market price smash of this past week is also destined to be intentionally ignored by both the CME and the CFTC, save for the braggadocios press release from the CME and some not so reassuring words from Commissioner Chilton that the agency is ”looking into it.”
The total amount of gold that the US has exported – above and beyond its supply capability – is almost 4,500 tonnes, says Eric Sprott based on his own research! A truly stunning figure.
Friday March 15th was an interesting day in the gold market. The Wall Street Journal wrote the following: “U.S. regulators are scrutinizing whether prices are being manipulated in the world’s largest gold market, according to people familiar with the situation. The Commodity Futures Trading Commission is examining the setting of prices in London, in which a handful of banks meet twice daily and set the spot price for a troy ounce of physical gold, the people said.” After four and a half years of quasi silence about the silver price manipulation case, “it appears” from unnamed sources that the CFTC is “discussing” whether the daily setting of gold and silver prices [...]
Jim Sinclair looks at the trading patterns, and is convinced the price take-down was “engineered.” Additionally, he believes the gold price is at or near a major bottom right now, for the following two reasons.
Gold Silver Worlds received a great question from one of its readers: Please explain how the “Gold Price” can drop $15.00 to $20.00 or more, in one “millisecond”, during overnight trading in Asian or European markets. It makes no sense and can only be caused by a “computer program” somehow. It occurs repeatedly and can only be pre-planned, at least that is the only logic explanation. Dimitri Speck, a true expert in this matter, provides the answer.
A long time subscriber of Ted Butler’s premium newsletter asked a question that may be on many minds: “Ted, you have frequently stated that all manipulations must end. Why is that? After 25 years it still appears to be going strong. Why can’t it go on for another 25 years, or for infinity?” Ted Butler answers that instead of wondering why the silver manipulation hasn’t ended yet, one should look at all the accumulating evidence that demand is overcoming supply. Silver is tighter today than it has ever been (except in April 2011). If these signs weren’t present, then there might be some worry about how much longer the artificial low price could persist. But these signs do exist and it’s up to us to recognize them for what they are, namely, confirmation points of what must occur.
We all remember the gold and silver price smash of exactly a year ago. Between Christmas and New Year, in a thinly traded market, both metals had been “attacked” without a fundamental reason. It looks like this year we are experiencing a similar type of price action. It remains to be seen if the worse has passed. Gold and silver are in a waterfall decline for four weeks now. The metals currently stand at their levels of August of this year. We collected in this article the view of three true experts. The key takeaways: do not worry about the short term price, the primary trend is still intact.
A thinly traded gold and silver market because of the start of the end of year holiday … an ideal setting apparently to make the precious metals price(s) agressively move. Yes indeed, Paulson could have triggered an initial sell off in the GLD yesterday, causing prices to decline. But today’s price action seems too stretched. Logic or not, Jim Sinclair has opinion about it, and it is outspoken: You cannot fix the problems of the Western Economic system by breaking the telltale thermometer, which is the price of gold. There is not one professional who does not know sales in extreme volume at a time of low activity internationally have [...]
On Wednesday 13th, 2012, the US Fed announced additional monetary stimulus in an attempt to make the economy grow. We wrote about the Fed’s commitment to buy 85 billion US dollar per month in a bond buying program and keep the interest rates near zero till 2015. For the first time, to our knowledge, the Fed has committed publicly to work towards a target: the quantitative easing program will continue until the unemployment figure in the US drops from today’s 7.7% till the intended 6.5%. Logically, the news would be in favor of gold and silver. The initial reaction of the gold price was indeed a positive one, and the [...]
After yesterday’s announcement from the US Fed to continue their bond buy program of $ 85 billion dollar per month, the gold price initially rallied but closed the day flat. Surprisingly, in the Asian market trading session, gold and silver took a dive. The idea that precious metals prices go down right after one of the the most bullish possible events, is highly suspicious (to say the least). That’s the type of situation when a real expert needs to explain his opinion. Jim Sinclair commented on today’s gold price action. What follows are his wise words : Gold will trade at $3500 and above on its own merits with Eastern demand in the cash [...]
“This is the definition of a silver shortage – nothing to do with the physical amount of the substance being in deficit, but people’s psychological intention not to sell. The extent to which a shortage is developing is witnessed by the extent of backwardation.” That’s what Ned-Naylor Neyland wrote in a recent commentary (thanks to GATA for bringing it to our attention). He is the Investment Director at Cheviot Asset Management, one of the UK’s largest independently owned investment firms. His commentary was triggered by the decision of the London Bullion Markets Association (LBMA) to cut the reporting on the Silver Forward Rate on the 2nd of November, playing it down [...]
GoldSilverWorlds had the honour to do a Q&A with Dimitri Speck who is the author of the best-selling book “Geheime Goldpolitik”. He is chief financial engineer of Staedel Hanseatic and runs SeasonalCharts.com, offering a wealth of intraday trend charts. He is also one of the people who increased the pressure to create transparency in the German’s gold holdings. A lot has been written lately about the gold price manipulation and the real amounts of gold reserves of the central banks. There are several views on the same topic, the most rational one being purely statistical. As it’s easy to get caught by emotions, we have chosen in this article to [...]
Grant Williams was one of our guests recently, as we had the honour to conduct an interview about his views on QE and the prospects of gold. He is the editor of the newsletter Things That Make You Go Hmmm …, an electronic magazine that is full of economic insights (the true ones, not the ones that are manipulated or created by one or another propaganda machine). In the latest edition, he writes an exclusive and in-depth section about the role of the central bank in the gold market. It is linked to one of the articles we published ealier about the “dusty” situation of the central banks’ real gold reserves and their involvement [...]