Gold Manipulation?

[classhandicapper]

This is the story making the rounds these days

http://lewrockwell.com/roberts/roberts394.html

[lamboguy]

this time around in the gold market you have 2 different types of ways to play it, physical and paper. there are plenty of people that have bought the physical and have never sold it, but they have shorted the GLD. i have done the same thing. the problem with that is that when there is some big demand for gold you won't be able to buy any. the price will push up fast. i can't tell you when that day comes, but i promise it will happen if any of these events like Bengazzi, IRS, or AP news are true. there will be no one that trust's this government.

[Ocala Mike]

lamboguy, if trust in this government was an indicator for the price of gold, it would be $1,000,000 an ounce by now. Nobody trusts it now, and it's already factored in to the price.;

[Valuist]

Its clearly been manipulated downward by the likes of Goldman and hedge funds. And I guarantee you Goldman loaded back up a couple weeks ago when gold bottomed and they closed out their short position.

From what I understand, all the selling has been hedge funds. Retail buyers have no intention of selling.

[TJDave]

lamboguy, if trust in this government was an indicator for the price of gold, it would be $1,000,000 an ounce by now. Nobody trusts it now, and it's already factored in to the price.;

A nation's willingness to defend its currency is the determining factor.

[Valuist]

A nation's willingness to defend its currency is the determining factor.

And right now, nobody is more determined to destroy their currency than the Japanese. Its their kamikaze mission.

[classhandicapper]

More

http://lewrockwell.com/roberts/roberts395.html

[RaceBookJoe]

Gold went flying around 9pdt this morning on a rumor based around Moodys and the US credit rating.

[jwb]

Yes, it's not looking good for gold, or silver. With these coming events, there's no way prices go anywhere but down... especially physical.

1. Dollar losing its reserve currency of the world status (Petro-Dollar)
2. Lack of foreign and/or domestic confidence in our dollar (Debt)
3. When one of the many economic bubbles pop and set off the 1/4 quadrillion derivative market. (or, ending QE, raising interest rates and taking on a another 10+ million, immediately eligible "proud citizens".... that couldn't happen)
4. Getting MF'd becomes common.
5. War
6. A cup of coffee, Sunday paper and a bearclaw requires a $20, but w/ change you can't fold.

There might be a few other things going on in the world that would be bearish for gold & silver too, but they're not all that important. Like the above, none of it could ever happen.

[lamboguy]

it looked like gold double bottomed today before it went up vs. the u.s. dollar

what did take place for the first time in over 5 years was a huge sign of strength in the junior mining sector. some big monster was in that market today and there was a huge call position in that index. it had to be a big player like Goldman Sachs or George Soros that made that move. that's the way they operate.

[PaceAdvantage]

Went up what? $30 in five minutes or something like that yesterday afternoon?

I wish I had the balls to trade gold...situations like we've had the past month or so only come up once every couple of years in the major markets...

Like when oil went down to $30-$40 something a barrel...or the S&P diving to 666 or whatever Satanly number it dropped to years ago...and now Gold...when will I learn?

[lamboguy]

gold is in 2 different trading ranges right now. the smaller number is $1330- $1480. the larrger range is $1400- $2500'

i had a junior miner that traded up 18% yesterday with volume. MUX.

i am actually pretty lucky with that one, i own it at an average of $3.70 per share, its not down as much as other miners. it closed yesterday $2.33

[classhandicapper]

Went up what? $30 in five minutes or something like that yesterday afternoon?

I wish I had the balls to trade gold...situations like we've had the past month or so only come up once every couple of years in the major markets...

Like when oil went down to $30-$40 something a barrel...or the S&P diving to 666 or whatever Satanly number it dropped to years ago...and now Gold...when will I learn?

It's really tough to get involved in the gold market. You have to have brass balls and a very long term outlook. It's kind of like investing in US treasuries now. Everyone on earth with an understanding of the issues knows that long term US treasuries are in a Fed induced bubble. But you can't short them because the government, Fed, and even many of our trading partners have a vested interest in maintaining the current state of affairs. So they will print money, manipulate currencies, hold treasuries even though they know it's a negative real return investment etc.. to keep the game going. A "FREE MARKET" would have corrected the problem long ago when it was much less of a long term risk to our country's financial well being. But we don't have free markets when central bankers and financial institutions are manipulating prices, interest rates etc..

I actually bought a little gold today (for the first time in quite awhile), but I am very aware that I am probably years early and will ultimately be buying more at lower prices in the future.

[Robert Fischer]

An unquestioned belief in Gold to be a "standard" is held by the vast majority of the population. Therein lies the value as well as the danger.

[RaceBookJoe]

/GC is on crack today, wild swings first hour so far.

[Tape Reader]

/GC is on crack today, wild swings first hour so far.

So is "Benny and The Ink Jets."

[RaceBookJoe]

So is "Benny and The Ink Jets."

Yeah, no kidding../GC , /CL, /ES all had really nice trades today. Bernanke is in no-lose position.

[Valuist]

So is "Benny and The Ink Jets."

:lol: That is classic.

[classhandicapper]

http://www.forbes.com/sites/greatspeculations/2013/05/28/somebody-is-messing-with-the-gold-market/?partner=yahootix