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Gold Smuggling in India Rises 900% to Record
caseyresearch.com / Ed Steer / May 27, 2015
¤ YESTERDAY IN GOLD & SILVER
The gold price chopped quietly lower in Far East trading on their Tuesday—and the HFT boyz and their algorithms/spoofing showed up around 2:15 p.m. Hong Kong time. Once they were done, the price drifted quietly lower until the London morning gold fix was done at 10:30 a.m. BST. It rallied a hair into the COMEX open, but JPMorgan et al were laying in wait once again—and within thirty-five minutes had gold down another ten bucks to its low tick of the day. The gold price didn’t do much after that.
The high and low ticks were reported by the CME Group as $1,108.20 and $1,184.80 in the June contract.
Gold closed on Tuesday in New York at $1,187.80 spot, down $18.10 from Monday’s close. Not surprisingly, gross volume was sky-high at 345,000 contracts, but it only netted out to about 142,000 contracts. And once you take out the 21,000 net contracts from Monday, net volume yesterday wasn’t overly heavy at 121,000 contracts. On a $20 engineered price decline, that’s not a lot. I’ll have more on this in The Wrap.
The post Gold Smuggling in India Rises 900% to Record appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/05/27/gold-smuggling-in-india-rises-900-to-record-2/
