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Investors Spooked As Glitch Sends Gold To $3400

Posted By admin On September 1, 2010 @ 5:24 am In Featured Stories,News In Focus,Paul Watson Articles | Comments Disabled

Some speculate error was secret signal to indicate where precious metal is really heading

Investors Spooked As Glitch Sends Gold To $3400 010910top
Photograph: Giorgio Monteforti

Paul Joseph Watson
Prison Planet.com [1]
Wednesday, September 1, 2010

Investors were briefly panicked yesterday when the Yahoo Finance website indicated that gold had soared to over $3400 dollars an ounce, an instant jump of 175 per cent. Possible reasons for the shocking spike ranged from a simple mistake to a secret signal being communicated to insiders as to where the commodity was really heading.

Just after 11am eastern time, the Yahoo Finance website gold graph indicated that the precious metal had jumped from $1235.60 an ounce to a whopping $3401.50 an ounce in the space of minutes. The commodity then quickly returned to its previous level almost immediately.

The only event that could precede such a massive and instantaneous jump in gold would have to be something on the scale of a nuclear war or a sudden and total collapse of the U.S. dollar.

Investors Spooked As Glitch Sends Gold To $3400 010910top2 [2]
Click for enlargement.

Since the apparent glitch was only registered on the Yahoo website, many have attributed it to an in-house error. But that didn’t stop financial forums raging with speculation as to whether the snafu wasn’t some kind of hidden message being put out to insiders as to when gold will really hit such a level.

“This is one of those secret messages to traders in the know that tell the brokers when gold will be at a certain level,” claimed a Kitco forum member [3].

Indeed, numerous investment analysts speculated last year that gold was heading towards the $3500 range [4]as a result of a deflationary collapse of the U.S. economy.

“Did it really do that, and I wonder if someone knew and cashed in bigtime only to re-invest it after it dropped back down. If they did, they made some major moola!,” commented a poster at DailyPaul.com [5].

Was this a ‘tell’ to let insiders know that gold is about to soar? Or was it nothing more meaningful than a technical glitch?

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Investors Spooked As Glitch Sends Gold To $3400 040310gold [6]


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URLs in this post:

[1] Prison Planet.com: http://www.prisonplanet.com

[2] Image: http://www.prisonplanet.com../images/september2010/010910top2a.jpg

[3] claimed a Kitco forum member: https://64.18.70.28/showthread.php?t=66321&page=2

[4] speculated last year that gold was heading towards the $3500 range : http://www.bi-me.com/main.php?c=3&cg=4&id=32459&t=1

[5] commented a poster at DailyPaul.com: http://dailypaul.com/node/143616

[6] purchase it now by visiting the GCN website: http://www.midasresources.com/ccount/click.php?id=49

[7] How The Fed Is Destroying The Dollar: http://www.prisonplanet.com/how-the-fed-is-destroying-the-dollar.html

[8] Gold Surges As Euro Continues To Collapse: http://www.prisonplanet.com/gold-surges-as-euro-continues-to-collapse.html

[9] Gold Hits 2010 High Amidst Debt Turmoil In Europe: http://www.prisonplanet.com/gold-hits-2010-high-amidst-debt-turmoil-in-europe.html

[10] Gold Surges To Three Week High As Dollar Tanks: http://www.prisonplanet.com/gold-surges-to-three-week-high-as-dollar-tanks.html

[11] Gold Prices Heading For Record Highs: http://www.prisonplanet.com/gold-prices-heading-for-record-highs.html

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