Right at the open, about 20,000 contracts were dumped on the gold market. There is no way that it was a natural trading event, on a Sunday evening in a summer illiquid market. Outside of currencies, metals are the most manipulated markets on this planet.
If the selling panic doesn't materialize from this price attack, the cartel is in extreme risk of being caught in a short squeeze. They need to create the selling panic for volumes to come in but sometimes it does not work...
Gary Savage is a 57-year-old retired entrepreneur living in Las Vegas. He has been investing in stocks and commodities for 15+ years. He is a self-made multi-millionaire and attributes his financial success to savvy investments made in owning/selling several businesses, real estate, and, more recently, the stock market. He is also an Olympic weightlifting champion, and world record holder. Gary’s stock market investment philosophy and success owes to an unusually disciplined and keen understanding of market cycles combined with cutting edge sentiment data which allows him to anticipate and articulate how larger trends are likely to unfold. His analysis is almost always in strong contrast to what the public is thinking – and, provocatively, several steps ahead of the crowd. Gary’s renown as a recognized trading/investment expert in the areas of precious metals, stock market, oil and currency markets is demonstrated by his numerous internationally published articles in these market areas. Gary publishes the Smart Money Tracker, a market newsletter available online by subscription only, and also the SMT free blog.
