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Proof That Gold Is Manipulated Using Paper Gold

Tuesday, November 4, 2014 10:57

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(Before It's News)

TND Guest Contributor: Dave Kranzler |

It’s so easy to spot, even a caveman using a crayon and a ruler etching lines on graphs and making crystal ball readings could see it (source: Nick Laird via Ed Steer’s Gold and Silver Daily, edits in color are mine):

CLICK TO ENLARGE

This graph shows the average intra-day price movements of gold over a 5-yr period. As you can see, on average over 5 years, during the time of day when the Asian physical delivery markets are open, the price of gold has positive returns. During the time period when the Lonon/US fractional-hypothecated fiat paper gold markets are open and Asia is closed, the price of gold declines.

The black circles show the downward spike that occurs going into the London a.m. AND p.m. price “fixings.” The green circle shows the price adjustment that occurs after NY is closed for the evening and the night time Globex session commences. This is clearly buyer demand jumping in to buy gold that was artificially taken down in price during London and NY trading hours.

People, this is a 5yr daily data series. It would be hard to create a data pool with better statistical correlation characteristics using a 99% confidence interval . It shows the behavior, on average of the price of gold over the last five years on a daily basis. There can me no mistake that the price of gold trades at a higher price level during the Asian trading hours than it does during the London/NY trading hours. Even more significantly, there can be no argument that the price of gold is manipulated lower going into the “benchmark” price setting London price “fix” operations. The price is fixed alright – it’s fixed lower. This is evidence that would make the OJ Simpson defense team blush.

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About Dave Kranzler:

I spent many years working in various analytic jobs and trading on Wall Street. For nine of those years, I traded junk bonds for Bankers Trust. I have an MBA from the University of Chicago, with a concentration in accounting and finance. My goal is to help people understand and analyze what is really going on in our financial system and economy. You can follow my work and contact me via my website Investment Research Dynamics. Occasionally, I publish on Seeking Alpha too. As a co-founder and principal of Golden Returns Capital, LLC Mr. Kranzler co-manages the Precious Metals Opportunity Fund, a metals and mining stock investment fund.