Anybody notice what happened at 10:15 est this morning?
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Gold fell from 1248 to 1212 instantly. Attacked just as it was about to head over 1250.
Yep, but it popped right back up and is currently at $1240!
They ran all the gold futures sell stops out of the market and immediately took it back up to flush everyone out of the market and leave them behind……..forcing them to buy back in at higher prices if they want back in……….they got everyone scared to jump back in which is their objective………..to keep folks out……..
Looked like around 7000 contracts dumped at market.
Just another day In the market (pm)………hope they saved some contracts for tomarrow……………….
YES 100 % MANIPULATION EVERY DAY ! ALL MARKETS ! Day don’t need MONEY ! Day play us so we no make Money !
“Manipulation Zone”. That is a good one, Gary. It may even deserve a spot in technical analysis as a permanent factor.
What if there is a pinch in credit, many of these hedge funds that are carelessly run are so capitalized that they could not pay dividends on the securities which they hold and then they better hope that they have profits to dip into. DT
Cnbc called headline: Gold plummet blamed on “fat finger”. It is clearly a gov’t /Fed sponsored attack.
Paul,
This is the second time that cnbc blamed the plummet on a fat finger. The manipulation will continue until they run out of gold and who knows when that will be. In the meantime keep accumulating silver. In my opinion and I back up my opinion with my money. I’m fully invested in physical silver and if the price goes lower I will be more than fully invested. Very appreciative of Gary Savage posts. He and Doc and others on this site seem to have it well in hand. Two exceptions !!! Birdman and Dillon, although their posts are humorous, thought provoking and most times a good laugh.
Even if it was a fat finger trade someone on the other side of the trade lost money. How do you compensate for a fat finger loss? I think the fat middle finger would be appropriate.
ABSOLUTELY, Gator!
The pop in price speaks volumes in my humble opinion.
Good point Michael. Regards !!
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What about the big hit in WTIC oil a couple of days ago?
Fiindng this post solves a problem for me. Thanks!
It looked to me that a big player wanted in at lower price. Likely very bullish action.
“Somebody is trying to suppress the price” Why couldn’t it just be someone trying to unload while the market is showing some strength? Someone had to actually sell gold contracts in order to move the market down.
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