Did I say I didn't like the manipulation? As long as you know it is occuring you can factor it into your investment decisions. I'm not purturbed by it myself, now that I have accepted it, because I know the fundamental truth, that gold matches inflation, always has for 5000 years of history. It's why gold in Australian dollars is up from $450/oz in 2002, the point in time not coincidentally where Australia became a net importer of oil and inflation began to really take off.
The evidence for manipulation in the gold market is as blatant as the manipulation in the property market but they both work towards different ends. The manipulation in the property markets was maintain an ever increasing need to expand the money supply, to avoid default of the global economy. And it worked, up until 2007.
Well boy is this your lucky night. You've been manipulated down to about $1264 and the trend is still nose dive like.
Enjoy.
Any expressed market opinion is my own and is not to be taken as financial advice
manipulation by it's very nature will mean you won't know about it until it's too late, or it wouldn't work would it.
No pigiron, your shallow thinking has let you down again. Manipulation does work, it has worked on you and most everyone on this forum, almost everyone in Australia in fact. It goes like this.
Quote:
Abraham Lincoln, (attributed)
You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time.
peter fraser
12 Oct 2013, 12:22 AM
Well boy is this your lucky night. You've been manipulated down to about $1264 and the trend is still nose dive like.
Enjoy.
Last time I checked the Perth mint it was well over $1300. I think you must be referring to a US paper gold price. I don't touch that crap myself.
Well boy is this your lucky night. You've been manipulated down to about $1264 and the trend is still nose dive like.
Enjoy.
Yeah. Some bright spark dumped about 15.5 tonnes of the stuff on the Nymex just after open. Caused a 10-second trading halt. That, and the associated liquidation from stops being blown (like, for example, my conditional order to go short on a downside breakout!) triggered a drop of 1.5%, about 1/3 of which was regained during the day.
You gotta give the market credit for being liquid when it can absorb that much gold in such a short time with so little movement. Also gives you some idea of how fanciful the claims of "manipulation" are. Not many people have the wherewithal or motivation to lose 1.5% on $640M in order to temporarily move the market by $20/oz.
The reality is much more mundane. The big funds are reducing gold as a percentage of their holdings, typically from the 8% level to about the 4% level. Until that distribution is over, things are bearish for gold.
goldbug
12 Oct 2013, 07:37 AM
Last time I checked the Perth mint it was well over $1300. I think you must be referring to a US paper gold price. I don't touch that crap myself.
So the Perth mint will buy your metal at more than US$1300/ounce? I'd be racing in there to sell it first thing Monday morning.
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