Tuesday, February 24, 2009

Gold Market Manipulation?


The green line represents today's price action in gold on the NY Comex. This reeks of classic government intervention. Western governments do not like gold going screaming higher as it indicates lack of confidence in paper currencies. Free markets never trade like this without some kind of news event to trigger it.Once gold exceeded $1,000/oz there was much commentary about it. I knew some kind of action would be taken, I was just wondering when it would happen, now I know.-Lou

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