![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif?0.7194601531058445)
Posted on 07/20/2015 2:24:28 AM PDT by Enlightened1
(Excerpt) Read more at kitco.com ...
dumping to drive the price down intentionally
ping to you.
Gold markets are rigged, like every market, but gold especially.
Gold and silver prices: The next bank rigging scandal?
China knows that gold is rigged
Rigged Gold Price Distorts Perception of Economic Reality
Somebody set us up the bomb.
tx!
If gold is a bad investment why is China on a mega historic buying spree ?
Because they are dumb?
Another “Oh wow.”
bttt
Good morning everyone and a Happy Channel Pattern to all!
[click to enlarge]
Whether any of us here thinks the patterns apply to stock'n'gold prices, right now futures traders are seeing stock indexes +0.13% and metals -1.20% and metal support levels are definitely faltering w/ gold at $1,114.04 and silver $14.84. mho, it means something that the long term metals prices barely keep up w/ inflation and long term stock prices double every decade.
Darned if I can figure out what it means. Can someone enlighten me? The only thing I can think of is that it's all rigged.
I’m the same way. If I can’t figure it out it’s gotta be rigged. Right! ;^)
I’d hardly call $50 a “crash.”
Because they are going to debase the Dollar as the world reserve.
Time to buy more gold.
Darned if I can figure out what it means. Can someone enlighten me? The only thing I can think of is that it's all rigged.
Some people say that and others say it's supply and demand --that topic's one that's great for ideologue rants but for earning a living and feeding kids the best approach is facing reality. Namely. that this is what's been happening for hundreds of years and we can either accept it and profit or deny it and risk having it bite us.
Because they are going to debase the Dollar as the world reserve.
"Debase" or "maintain confidence", take your pick. Actually, nobody knows for sure what's going on there, but what is for sure is that lots of pundits are coming up w/ possibilities (from Forbes):
The People’s Bank of China, for the first time in more than six years, revealed a change in the country’s official gold reserves. On Friday, it announced it held 53.32 million troy ounces of gold as of the end of June. That’s up 57.3% from 33.89 million ounces at the end of April 2009.
China, not Russia, now has the world’s fifth-largest holdings of the yellow metal, but analysts are not impressed. Some, like Brien Lundin of Gold Newsletter, think Beijing’s holdings had about doubled during the period. Some believe they had jumped three-fold. Others say more, with China possessing as much as 3,510 metric tons. If the high-end estimates are correct, China could be hiding somewhere in the vicinity of 1,850 tons.
The assumption that China still has not disclosed all its gold has led Lundin, like many others, to wonder “why they would feel compelled to understate the total now.”
The thinking of Chinese officials about their stockpile remains a mystery, but there are various theories. The most benign comes from GoldCore’s Mark O’Byrne, who said China may have been “lowballing” the size of its holdings to maintain confidence in the dollar.
Are the Chicoms lying about how much they have so they can one day soon lift the veil and destroy the dollar?
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