http://news.goldseek.com/GoldSeek/1365969600.php
“How the gold market was crashed.”
By Bill Downey
Best and most plausible explanation of how the gold price was taken down in a planned “beehive attack.” Very interesting read, and a window into the world of real gold trading. Once again, the physical gold market network/system “froze” and prevented buying back in long after the price had broken support at 1525, triggering automatic stop-loss orders taking it down under 1475. Then the physical gold window slams shut, what a coincidence! Great read.
THX
Bfl
APMEX is out of us silver eagle one ounce. Physical PM markets are strong as peasants here buy tangible gold and silver. Margins on US Silver Eagles are quite high. Gold coin margins are steady from what I see.
You better believe the Chinese Roooskies Hindus and other are buying tons of physical gold at these bargain prices while Cyprus, Spain and other might be selling off their physical gold which is moving from weak European hands to strong Asian hands
Very nice essay. All this stuff is based on the paper gold market (gold ETF whose name I forgot) that’s much more volatile than delivered physical. The Fed’s job is to turn those people into day traders or bankrupt them (most likely both). The ETF gold market has little resemblence to reality where I went last Sunday. Plenty of physical lying around but no firesale prices, just people ordering more physical.