Intraday gold price manipulation (10 am ET)

[swissaustrian]

The following charts clearly show that gold is beeing manipulated on an intraday scale right before the 10 am ET London PM gold fixing ( http://www.goldfixing.com/ ):
Dimitri Speck has examined the data, the following charts are from his book "Geheime Goldpolitik" (secret goldpolitics) which is only available in German.

Gold Price Intervention Figures
Fig. 17: Average Intraday Price Trend of Gold 1986–7/1993
Price anomalies are living proof of secret gold price interventions. There were no abnormalities in the daily rate fluctuations before the start of systematic interventions, as shown in the figure below. This so-called intraday seasonal chart provides the typical intraday trend of the gold price before the beginning of systematic interventions on 5th August 1993:

Fig. 18: Average Intraday Price Trend of Gold 8/1993–3/2009
Since the beginning of systematic gold price interventions, the picture is quite different. In most cases the interventions occur suddenly. Since then, the average intraday gold price which is calculated from millions of minute by minute prices shows frequent dips at 10:00 New York time:

Fig. 49: The Phases of the Gold Price Interventions
The interventions can be divided into (at least three) phases. In the first phase, the central banks prevented an increase in price above the threshold of 400 dollars. In the second phase private leasing was key and the prices fell mainly because of their desire for profits. In the third one the price increase was merely slowed down. Despite the fact that the interventions were carried out in secret, there is enough evidence in documents and prices to date precisely (to the minute) every phase of the gold price interventions.

Fig. 62: Gold and Net Positioning of the Commercial Traders
The structure of the futures market has changed exactly since the start of the third phase. According to the statistics of the US regulatory bodies the “commercial traders“ are clearly and permanently positioned on the short side. The figure below shows the positioning of the „commercial traders“ on the futures markets:

http://www.geheime-goldpolitik.de/english/

[swissaustrian]

Additionally:

Fig. 43: Gold-Intraday on 5th August 1993
Every gold market observer knows this phenomenon only too well: unexplained, sudden decreases in price. This cost-efficient type of intervention is meant to cause investors to close their position (through uncertainty, through execution of stop-loss-orders).This method was already used on the very first day of the systematic interventions. After opening, the gold price fell by five percent within minutes, as can be seen in the following intraday figure from 5thAugust 1993:

[swissaustrian]

Todays (1-12-11) market action is tha good example:

[dereksatkinson]

Today really didn't smell of intervention IMO... Looks like a little profit taking after a big up day.

[swissaustrian]

Today really didn't smell of intervention IMO... Looks like a little profit taking after a big up day.

It´s the timing. 10:00 right after the London pm fixing gold shot up. This is typical.

[swissaustrian]

Watch out for a nice recovery of gold right after the CRIMEX close in 1 minute from now.
The whole trading day was a joke.
Gold is at 1730 as I write this.

[dereksatkinson]

Yeah I don't really see the rational behind gold being down this session.

Oddly enough.. the GDX and GDXJ have been relatively strong.

[swissaustrian]

Ok, forget it. EUR is crashing on downgrade news for the AAA´s.

[dereksatkinson]

Ok, forget it. EUR is crashing on downgrade news for the AAA´s.

Well.. at this point it's still just a rumor.. Grant it, it's very likely to be true and the market is taking it very seriously.

[DCFusor]

Doesn't it crack you up? We all knew they were a lousy credit risk, their bond markets were at least starting to price that in (and in some cases, pricing in default), yet when some officious, always late, outfit like S&P announces what we've all known for months if not years, the market tanks?

Or is it just the usual bouncing off the top of the trading range, or the usual falling after a few days of rising, the old almost sinusoidal range moves? Looks like more of the same except for the gold drop, pretty big for a day. Margin calls?

[swissaustrian]

All of the moves in todays gold trading were totally counterintuitive - except the move when the EUR crashed.
During London trading gold crashed and silver didn´t follow which is very rare:

Silver basicly followed brent crude:

[PMBug]

...yet when some officious, always late, outfit like S&P announces what we've all known for months if not years, the market tanks?
...

[swissaustrian]

All the major downturns today look suspicious. It started in the middle of night during the thinnest hours of trading. Another hit occurred right after Hong Kong closed. And once the Comex opened, the bottom fell out.

[DCFusor]

Well yeah - driving down gold makes all these bogus currencies look better - for about a minute, or an hour with luck.

I do know something visceral in this old traders gut caused me to put on some serious hedges on Fri at the close, on a few things. Those are looking kind of nice right how. This is one of those "I hate to be right" moments, since I didn't do enough to be net ahead, just cut my losses so far today.

[swissaustrian]

Seems like the intraday bottom is in

[ancona]

I just posted about this on another site I frequent.

It's a paper flush, pure and simple. No one is selling physical.....no one. The rehypothecation firestorm has investors running scared right now. If I suddenly found out that my firms operating capital was being used to guarantee Slovenian sovereign bonds, I'd be in a hurry to withdraw my cash too. The problem lies with the fact that it can become a self reinforcing spiral. As their hypothecated collateral is withdrawn from the system, it must be replaced with equally liquid collateral. Do you see how quickly this can become a calamity? We're talking about trillions of dollars here.

[mmerlinn]

We all knew they were a lousy credit risk, their bond markets were at least starting to price that in (and in some cases, pricing in default), yet when some officious, always late, outfit like S&P announces what we've all known for months if not years, the market tanks?

Looks like more of the common rule "Buy rumor" (We all knew) and "Sell fact" (S&P announces).

[swissaustrian]

The last two days are proving again that the CRIMEX is the primary vehicle for gold price manipulation:
Look at the chart, CRIMEX trading starts at 8 am ET and closes at 1:30 pm ET. The major downside moves happened during this period. As you can see in the op, this occurs with such a regularity that it´s statistically proovable.

[swissaustrian]

Like clockworks: CRIMEX opens, gold goes down.

[swissaustrian]

WTF happened at 9:30 am. Come on that´s ridiculous. That looks like a stinking intervention in a currency pair: