It’s approaching 7 am New York time, and there’s a little bit of pre-opening gold selling going on:
This has been going on at regularish intervals (ie, gold dumps between 7-9 am on the NYEX) for about ten days now. Clearly, the message someone is trying to convey is that Obama’s election was a good decision, we’re winning the war in Syria, and the EU/Greece thing is showing light in the tunnel at last.
This next graph down (left) shows what’s going on the the three-dimensional Universe inhabited by you and I:
Stripe me pink Oshifer, there seems to be a bit of a mismatch here: market bars going down and retail coins gushing up. I wonder if any readers can help as to which of these represents reality.
Forget any bollocks about comparing apples and pears here: if the market price of gold is plummeting due to natural causes, then this spectacular rise in coin sales is making a lot of retailers fabulously rich.
So I will set you a task: ring up your friendly local neighbourhood bullion dealer right now and ask for a price on, and availability of, the real shiny bars. Trust me, the price will be rising, and the availability risible.
In an unmanipulated market, this simply cannot happen. The mega-rich know this perfectly well….which is why their first port of call is now glitz-brick property not gold ingots.
Why are the 3% of MoUs waiting for a while re gold? Because this is a game of no-limit poker, in which the winner will be the last man at the table with the chips left to raise. And in the end, the Fed, the Bank of England, the European Central Bank and all the other crooks will have to give up the fight.
When that happens, my view remains that gold will go stratospheric. That will be allowed for a month or two, and then trading in it will be banned globally. It will have to be, because otherwise every bourse on the planet will freeze down to absolute zero…and the CBs will have no gold left.
It’s just more arse-saving and People-pauperising. But stay tuned – and keep an eye out for the window being pushed ajar.