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Jim Sinclair: “The market character has now changed for gold and very few recognize that. Gold is a trading market which involves sovereign entities, very serious sovereign entities such as China and Russia. Recently you can even see the minor central banks such as South Korea purchasing gold.
If the US got Putin angry you would see something happen in the gold market. Russia, China, and other central banks know what the end game is. They know that gold is going to balance the balance sheets of the major deficit spending nations.
Now those deficit spending nations like the US, which would like to protect the dollar, see gold as competitive. They may well be dragged to this conclusion yelling and screaming and causing volatility all of the time (in the gold market).
Originally posted by CosmicCitizen
reply to post by ErtaiNaGia
There has to be a buyer for every seller....BUT in a panic selling mode the sellers are more aggressive and mark the prices down fast and hard in search of buyers/bids.
...In the last update we opined that Big Money, aware of the mass of stops beneath the key support, was conspiring to trip them in order to trigger a collapse which would enable them to replenish their run down gold inventories at a relatively low price, but there is a darker explanation for their earlier big inventory rundown, which is that they had seen "the writing on the wall" and were offloading their inventory at top dollar in the large top area as fast as they possibly could ahead of a collapse. Many are now protesting "How could gold collapse when its fundamentals are so strong?, www.marketoracle.co.uk...
...Coordinated Action Against The Gold Price
Not to say that there weren't more deliberate forces at work. My good friend and near-neighbor in Acapulco, billionaire Hugo Salinas Price recently pointed out that the events of April have all the markings of a coordinated psychological operation or PsyOp using the "paper gold" futures contract. According to Hugo, "The intention of the 4-12 operation was to make gold investors think that their judgment regarding gold as a refuge for savings was mistaken, and to change their behavior accordingly: shun gold purchases."
Not surprisingly Financial Times has led the establishment charge in discrediting gold. ...Coordinated Action Against The Gold Price
Not to say that there weren't market oracle...article 40082.html
...It was most certainly not “investors” who caused the huge, historic collapse in the price of gold. It was a very few banks, working in cooperation with each other, in a pre-planned fashion. They sold, in huge amounts of tens of billions of dollars, not physical gold, but futures contracts – the infamous “paper gold”. It was the banks who rushed to “dump” the gold and not investors.
A News Agency report published on April 16 informs that Carsten Fritsch, commodities analyst for Commerzbank AG, Germany, says that on Friday, April 12, futures for more than 1,100 tonnes of gold were sold.
...The last 90 days have seen the biggest draw down on record of stocks of gold stored at the COMEX. There has been very little reporting about this by those same voices loudly announcing the death of the bull market in gold. But the smart money seems to be removing their gold from COMEX storage. This is because ...In the last update we opined that Big Money, aware of the mass of stops beneath the key support, was conspiring to trip them in order to trigger a collapse which would enable them to replenish their run down gold inventories at a relatively low price,
...The last 90 days have seen the biggest draw down on record of stocks of gold stored at the COMEX. There has been very little reporting about this by those same voices loudly announcing the death of the bull market in gold. But the smart money seems to be removing their gold from COMEX storage. This is because they don't trust the paper system which misrepresents the real scarcity in above-ground gold in order to drive the price down. Whether a speculator sell off or a coordinated attack, the drop in prices has sent a clear signal: take your possession of your physical gold.
This is a major event that we've been predicting for years as we progress towards The End Of The Monetary System As We Know It (TEOTMSAWKI). The fake paper markets have deviated to its breaking point from the real world supply and demand. If you already own physical, then follow the smart money and take possession and store it privately some place under your own power or with a private facility you can trust...
Originally posted by grey580
My father was a jeweler and I remember back in the 80's when gold prices skyrocketed.
We used to go every day and sell our scrap gold.
And over the years there's always fluctuations in high in low prices.
So I wouldn't be surprised to see gold tank.
But if it does. Start buying because in a few years it will go up again,.