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GATA’s Chris Powell: Gold Market Manipulation: Why, How, and How Long?
by Ed Steer
Ed Steer’s Gold & Silver Daily, Casey Research
Yesterday In Gold & Silver
The gold price got sold down within a few bucks of the $1,200 spot price mark early in the Far East trading session on their Tuesday, but began to rally shortly before 2 p.m. Hong Kong time. That tiny rally took the price back a few bucks above unchanged by 9 a.m. GMT in London. The real action started the moment that the noon London silver fix was in—and the rally that began at that point got capped/ran out of gas shortly after 10:30 p.m. EST. From its high tick it got sold down about ten bucks, before chopping sideways into the 5:15 p.m. close of electronic trading.
The low and high ticks were reported by the CME Group as $1,199.50 and $1,239.00 in the February contract.
Gold was closed in New York yesterday at $1,232.40 spot, up $28.20 on the day—and well of its high. Volume, net of December and January, was an enormous 252,000 contracts.
Continue Reading at CaseyResearch.com…
Source: http://financialsurvivalnetwork.com/2014/12/gatas-chris-powell-gold-market-manipulation-why-how-and-how-long/?utm_source=rss&utm_medium=rss&utm_campaign=gatas-chris-powell-gold-market-manipulation-why-how-and-how-long
