I’m not sure how anyone can look at this chart and not understand or believe that the Government, via the big bullion banks (JPM, HSBC, Scotia, Goldman etc) manipulates the precious metals market. I could show examples of many charts that look just like this from the past 9 years:
Anonymous said…B*stards in for another hit. Something strange here, last week was options expiry..is something happening in the near future that we don’t know about? Gensler and his staff should be crucified…slowly, leastways some legal action…same with JPM, HSBC, etc Or is this a set up to drag out all the naked shorts, and then stand for delivery? – break the b*stards – maybe?
I would say the Fed is scared Shit-less to be honest. http://www.zerohedge.com/article/second-gold-price-intervention-hour
The obvious manipulation as come to the fore front. No I am not a Gold bug claiming manipulation it is BLATANTLY OBVIOUS. But as Dave notes use it to your advantage
Joe said…Just saw Gartman on CNBC saying Gold is on the verge of a parabolic move up. It appears CNBC is starting to leak some truth.
What I will add is that the the path of least resistance right now is “up.” The physical demand for gold/silver – and the demand for delivery – is starting to take its toll on the attempt by the Fed/Treasury to hold down the price.