Tuesday, May 19, 2009

PPT Bombs Gold

click on chart to enlarge

Want to see what market intervention looks like? Look at this chart of gold yesterday. The dollar was down big, oil was up over $2.00 and commodities in general were higher, a very bullish mix for gold. In 60 seconds gold dropped $12.00 on no news that would warrant such a bombing of gold. This was a message from the Masters of the Universe to stay away from gold as an alternative to US dollar. I have been watching this blatant (and criminal) market intervention for years, but I have never seen it so obvious. It always happens during New York trading hours, usually around 10:00am. Something must be really wrong out there if they have to punish gold like this. Makes me want to buy some more gold.-Lou

No comments:

Post a Comment