Could we be being set-up?
We've discussed before how the price of gold makes its big drops at or near the London close. I for one believe it is proof of manipulation. This is the second chart in a month that I have posted that shows a huge climb, when we usually see the big drop. I have said it could be proof that the game players have lost the ability to manipulate as much as they used to. Now I am wondering if there is a flip side to these huge gains. Are the manipulators now playing the up-side, rather than the downside. Are they making money while running it up, only to still hold long down positions that they will pull out later to make a bigger profit. A lot of you know more than I how the longs and shorts, and ups and downs work. I'd appreciate your thoughts, as we as a group have been making some pretty good calls. Thanks!!!!
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Replies to This Discussion
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Permalink Reply by Buffalo on -
My opinion is we are seeing a reawakening of flight to safety buying, gold is going higher, and some of the big/smart money people are placing their bets. Much of what has been taken as encouraging news by the stock markets lately has not been good news, just not quite as awful as predicted. I saw an article the other day that referred to moderately bad news now as "the new good" simply because it could have been worse. I agree the markets have wrongly treated it as such and I think more investors are also figuring that out.Take a look at the longs, shorts, and net changes for Large and Small Speculators here.
From GoldSeek: COT Gold, Silver and US Dollar Index Report - September 3, 2010
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Permalink Reply by Buffalo on
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I also meant to add to take a look at the Commercial shorts. That seems far from anything that makes sense to me for any legitimate reasons.
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Permalink Reply by True Money on -
I think that the mint is starting to change over for 2011. It is about time for the production of the 2011 silver and gold bullion eagles. The mint may be selling 2010 bullion coins at a slower pace, BUT the mint is actively purchasing the gold and silver bullion to produce the 2011 coins at this time. This is how the mint can offer these bullion coins for release at the start of the new year and a major reason why bullion prices are going up while sales of the 2010 coins are decreasing. It only makes sense to see this type of trend every year. The bullion has to come from somewhere. It is not coming from our nation's reserves at Fort Knox that no longer exist.
-True Money!
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Permalink Reply by Buffalo on
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Something to keep an eye on that could be a factor for PM prices (and other markets):
Investor Fears Force Split-Up of Irish Bank
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Permalink Reply by Lee Grant on -
When I reviewed the Kitco chart, what I saw were those straight line increases rather than the chatter of multiple buys and sells. These are single buyers who do not necessarily believe in the upward trend in gold but do believe they can sucker the little guys in enough for a big profit sell-off.
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Permalink Reply by Buffalo on
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Lureuin, you might have already seen this at HRC. It is about silver but discusses manipulation in the PM markets:
Nuts and Bolts of COMEX Silver Manipulation
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Permalink Reply by Louis on
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This is a very good point and may explain why gold and other precious metals almost always do well in the fall and winter. The Mint has to buy gold for the new year's coins and all that buying helps drive the price of gold up. But I do believe there are all kinds of reasons why the long-term trend has to be up for the foreseeable future (China gold market, central bank buying, asset proection by the wealthy, US budget deficit, etc.)
True Money said:I think that the mint is starting to change over for 2011. It is about time for the production of the 2011 silver and gold bullion eagles. The mint may be selling 2010 bullion coins at a slower pace, BUT the mint is actively purchasing the gold and silver bullion to produce the 2011 coins at this time. This is how the mint can offer these bullion coins for release at the start of the new year and a major reason why bullion prices are going up while sales of the 2010 coins are decreasing. It only makes sense to see this type of trend every year. The bullion has to come from somewhere. It is not coming from our nation's reserves at Fort Knox that no longer exist.
-True Money!
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Permalink Reply by Buffalo on
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New all time high for gold, silver jumping too:
http://www.reuters.com/article/idUSTRE67F05920100914
On the demand issue, seasonal buying takes place outside of the US also in gold.
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Permalink Reply by True Money on
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This is SAD! I am sitting here watching CNBC and watching these quacks scratching their heads over the truth. They are asking each other why gold is still climbing and continue insisting that gold will retract in value soon. Either they are all too STUPID to do their jobs, or this is one of the most apparent cases of CENSORSHIP I have seen in a long, long time. Yet, they run a poll on the following question. "Would you invest in a company if they: (A) Hired human labor (B) Replaced human labor with computer and robotic systems." The poll results yielded 51% for (A) and 49% for (B). This essentially answered the question for me and exposes the problem with our economic system. Human white collar (office) and blue collar (labor) jobs are being replaced by computer software systems and robots. So, where do these people go for employment? The answer is clear. Either they seek jobs that create these computer and robotic systems, or they seek those physical labor jobs that no computer system or robot can replace. Unfortunately, the majority of these unemployed people are LAZY and only seek these kinds of white collar and blue collar jobs that are readily-replaceable by computers and robots. They will not settle for a job like mine that requires the blood and sweat of human labor and accountability that ensures the safety of the customers we provide our services for.
By the way, Gold is currently up $27.70 on the day at $1274.80. It is continuing to rise on the day. Silver is now solidly over the $20 mark also.
-True Money!
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Permalink Reply by Buffalo on
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The statements by many commentators are enough to convince me they either don't have a clue or they have an agenda to misinform their audiences. I believe people should get all of the information they can from many sources, including even the ones that are obviously biased to either extreme. The bottom line is everyone has to make their own judgements and decisions after weighing all of the information.
One of the current business tax "relief" proposals for investment by businesses has been criticized by some on the grounds that it will encourage further shifts to automation and upgrading of computer systems. This type of investment could very well increase productivity and reduce the ongoing cost of doing business, but it often does so by replacing workers with technology. IMHO, it is very unlikely to have a net positive impact on jobs. A sudden peak in demand for the systems involved will probably create a windfall for the relatively few companies that supply those sytems. The overall impact though will likely be more workers replaced by these systems. I have to question if this is a good time to expand such a program, when high unemployment is one of the most serious challenges we face and unlikely to see any major improvement in the near future.
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Permalink Reply by IndianGoldEagle on
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The media has an agenda. They (TPTB) do not want the masses to pull their money out of the banking systems or the equities markets and put into metals. Any money in gold or silver you control, not them.
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http://seekingalpha.com/article/225579-congressmen-weiner-and-waxma...
DesertDweller said:The media has an agenda. They (TPTB) do not want the masses to pull their money out of the banking systems or the equities markets and put into metals. Any money in gold or silver you control, not them.
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