That's right, US authorities has been manipulated the price of gold, as the 'manipulation' is apparent in the US open gold market. Gold is always very important for our entire money system, of course if anything could be controlled it would be controlled.
Big difference between being controlled and open fraudulent manipulation. The other day someone dumped 500 tonnes of gold into the market at early Sunday morning, when there were almost no orders.
Who the heck has 500 tonnes of gold?
The intention was clearly to drive the market down as far and as fast as possible. That kind of thing kills people. I'll put money on it there was a suicide or two after that event.
It's as corrupt as it gets. And ultimately this level of corruption destroys markets and economies. As can bee seen in how the rest of the word is reacting to US hypocrisy. The end of the petrodollar is in sight and with it WW III. For the record the NYSE does only about 11% of the volumes it used to. That's what happens when you f@ck people over. They leave. And they take their money with them.
I certainly hope that you don't accept this as the normal. It's as rotten as it gets and will ultimately lead to the failure of America and very likely to a global war.
Yes, but I hope you guys understand that not only is the market you're trying to trade beyond any form of analysis, but the contracts you're trading are worthless. And that will very become apparent when the poop hits the fan.
That 500 tonnes of gold that got dumped into the market very likely doesn't exists in any current gold storage, it's been rehypothecated. Melted and sold off as jewellery to the moms in Asia. Had someone taken up that 500 tonnes contract I doubt the seller would have been able to deliver. All he has is a piece of paper pointing to rehypothecated stock.
That's why the owner, Germany (among others! - Asian countries also asked for it's gold back) has to wait 7 years for repatriation.
It was in fact shortly after that event that USA went to India and ask them to stop their people from buying gold. A strategy that has back fired badly, as physical gained a 30% premium in India.
Trading paper gold at this point is rolling dice. It's not trading, it's gambling.
Ok . Are you guy ready for GOLD really really really long down trend . This will be the last time you see gold hit 1277 . Long better cover your ass now . Short you can start short as much as you can . Good luck .
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