Blatantly Obvious Manipulation of Gold Prices

Market Skeptics
Thursday, May 14, 2009

below is today’s 24 hour gold chart. Gold is breaking upwards.

More blatantly obvious manipulation of gold prices

Below are two more gold charts from last week. Things to notice:

1) All the big spikes upwards happen when the London (physical) gold market is open.
2) All the downward movement happens after the COMEX (paper) gold market opens.

These charts show physical demand driving gold higher while the paper gold market desperately tries to force prices back down. Paper gold is losing.

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See my other entries on manipulation of gold on the COMEX for more info:

Increasingly Blatent Attempts to Suppress Gold Prices Are Evidence Of Desperation

Something Going Haywire In Gold Markets

Who shorted gold after fed’s announcement last week?

How Governments Manipulate the Gold Market

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5 Responses to “Blatantly Obvious Manipulation of Gold Prices”

1. Joe in JT Says:
   May 14th, 2009 at 12:50 pm

   Are you a gold propector? Do you sometimes pan for gold in Northern California or in Alaska? Well guess what. As soon as our government can’t manipulate gold prices any longer and an ounce of gold is like 1800 dollars they will make owning gold illegal!
   MOM AND POP GOLD PANNERS WILL BE NEXT ON THE TERRORISM LIST.

   

   comedian Reply:
   May 14th, 2009 at 4:04 pm

   Wow, Joe. Talk about a real pan-demic!

2. next shoe to drop Says:
   May 14th, 2009 at 4:26 pm

   I think that after gold gets high, bought by suckers at the ‘apex’ price, the price will be manipulated way down to a few hundred , if that, basically becoming just another form of wealth extraction. I would avoid gold like the plague. Think about silver and look at the higher rate of reurn percentage wise than gold, it kicks gold’s ass, and it’s shinier!

   

   LRRP 1968 Reply:
   May 15th, 2009 at 8:45 am

   I agree, gold is way too political. Silver is the key.
   Buy with both hands as much as you can.
   A 1964 silver quarter still buys almost exactly the same amount of commodity X as it did in 1964. A silver quarter and dime haved been able to buy a gallon of gas every yesr sinced 1964 and in many years a silver quarter was enough, like today, one silver quarter can buy a gallon of gas same as I was able to do in 1963 when I was in high school!

3. LRRP 1968 Says:
   May 15th, 2009 at 8:47 am

   The only think is even the Fed ( the ultimate backer of the ones holding gold down )m cannot afford to keep taking these losses for long.

   When the IMF sells off their 400 tons I doubt that will depress the price by much if anything. China will be in line to grab as much as they can.