Post by Ozarks Tom on Aug 13, 2021 13:47:14 GMT
If there was doubt in anyone's mind that the precious metals are, and have been, manipulated by TPTB there couldn't be any more clear evidence than what happened last Sunday evening.
The article has a couple explanations for why an entity would dump over $3 billion in paper gold in 12 minutes, but my inclination is the Fed saw the dollar slumping due to the inflation increasing and decided in order to support the dollar they'd stretch the margin of gold vs dollar.
You'll note physical gold/silver is still in high demand, my guess is there's an unconscious sentiment worldwide that things aren't right, and going to get worse.
On Sunday evening 8 August at 6:00pm New York time, as the trading of gold futures contracts commenced for the week and the COMEX GCZ1 December 100 oz gold futures contract opened at $1765 per ounce, there was nothing in the market or in wider macro news to suggest that the gold price was about to witness a sudden drop of $87 or 5% to a low of $1677.9, or that 90% of that drop would be in a 12 minute period between 6:45 pm and 6:57 pm when the gold price fell by 4.93% on huge contract trading volume.
