Gold hits five-year low, under $1,100 on Chinese selling
New York sell orders in thin trade trigger Shanghai gold rout
The Hunt For The "Mystery" Gold "Bear Raid" Leader Beginshttp://www.zerohedge.com/news/2015-07-23/hunt-mystery-gold-bear-raid-leader-begins
Posted by Peter Piper at 7/23/2015 01:31:00 PM
Astute analyst Bron Suchecki of the Perth Mint points out that the selling began on the COMEX in the August futures contract:
“Below is a 1 second time interval chart of the August futures contract from Reuters. The area in the red circle is the 4 seconds of the Nanex chart above, which puts the move into context.
Note that the volume traded in this one minute was 7,164 contracts, which at 100 ounces a contract is about 22 tonnes.”
That a single entity or a group acting in concert would choose to sell a position in huge volumes at a time when an absence of buyers would guarantee them a poor price is a sign that forcing down the price was the likely objective of the concentrated selling.
Posted by Peter Piper at 7/21/2015 05:33:00 PM
Two Years Later: Gold Was Right About The ‘Dollar’ As Economists Should Have Been Far Less Giddy About It All by Jeffrey P. Snider Alhambra Investment Partners A little over two years ago, in the middle of April 2013, there was a gold crash that came seemingly out of nowhere. Worse, for gold investors anyway, that crash was repeated just a few months later. Where gold had stood just shy of $1,800 an ounce at the start of QE3, those cascades had brought the metal price down to just $1,200. For many, especially orthodox economists, it heralded the end of the “fear trade” and meant, unambiguously, that the recovery had finally at long last arrived. Read the full story here... http://www.alhambrapartners.com/2015/05/26/two-years-later-gold-was-right-about-the-dollar-as-economists-should-have-been-more-less-giddy-about-it-all/
Posted by Peter Piper at 5/26/2015 10:49:00 PM
Posted by Peter Piper at 5/24/2015 10:30:00 PM
http://www.zerohedge.com/news/2015-05-23/traders-are-buying-gold-silver-fastest-pace-over-decade Large speculators increased Silver net long position to $4.4bn from $2.4bn notional. Large speculators increased their net long gold exposure to $14.8bn from $9.2bn notional. Charts: Bloomberg
Posted by Peter Piper at 5/24/2015 10:29:00 PM