Intraday gold price manipulation (10 am ET)

swissaustrian

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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:
abb17_eng.png

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:
abb18_eng.png

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.
abb49_eng.png

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:
abb62_eng.png
http://www.geheime-goldpolitik.de/english/
 

swissaustrian

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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:
abb43_eng.png
 

DSAbug

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

swissaustrian

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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.
 

DSAbug

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

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

DSAbug

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Ok, forget it. :flushed: 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

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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

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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:
gold.gif

Silver basicly followed brent crude:
silver.gif
 

swissaustrian

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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

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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.
 
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ancona

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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

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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

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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.
gold.gif
 

swissaustrian

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

swissaustrian

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The CRIMEX is such a joke.
The exchange closes at 1:30 pm. Somebody trigered a plunge perfectly on time for the close. It´s so balatanly obvious:
nygold.gif
 

ancona

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Same in silver brother....same in silver. Not to worry though, because the premiums for physical will catch up, and catch up with a vengeance. On DCRB's blog he has put up the variations in price and relative premiums. Watch Ebay. You will see prices rise inversely to a plunge. it's nice to see the sheep have at least caught on to the true value of their metals. At least to the extent that they know where delta is and how to get it back. The true price of silver, without the existence of fractional reserve paper bullshit, is likely north of a grand an ounce, and fifteen for gold. Wait for it man, 'cause it's a 'comin.
 

swissaustrian

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The ticker now shows exactly 1600. Is this some mythical psych point in Gold?
Every 100 mark is psychologically important. If the CRIMEX closing quote is right below a round number (1599.2 on Bloomberg), it´s suspicious because a lot of traders pay attention to the closing quote.
 

DSAbug

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you guys need to stop hotlinking kitco charts because they constantly update. print screen and upload the pic to photobucket instead.
 

pmbug

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tinypic.com is better than photobucket. $.02
 

pmbug

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Just trying to help. Wouldn't be a bug if I didn't appreciate a good value and it doesn't get much better than free. ;)
 

DCFusor

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I mentioned over at ZH that I've noticed and been playing this pattern for awhile. The trouble is - when do I get to take a break and have life? So I quit. It was a lot of work for the money.
 

swissaustrian

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I mentioned over at ZH that I've noticed and been playing this pattern for awhile. The trouble is - when do I get to take a break and have life? So I quit. It was a lot of work for the money.
Invest in the fund that they're pushing over there at ZH.
 

DCFusor

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Nah, sell the news. Once the story is out - that's it, it won't work anymore. Blankfien or Dimon will make sure of that.

Remember in fight club nothing means quite what it seems to.
 

pmbug

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Perhaps news proclomations that there was no fallout from the Euro credit downgrades was premature? Not sure. We'll likely get the news after the insiders are done trading.

There appears to be a battle going on around $1650 gold and $30 silver.
 

DSAbug

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too many euro shorts so any bad news on the dollar is causing little short squeezes.

of course the whole raiding of the pensions thing is probably doing wonders to make dollar longs uneasy. http://news.yahoo.com/treasury-dips-pension-funds-avoid-debt-limit-202850021.html

personally.. i still think we need some sort of pullback in gold since it's about 130 bucks off it's lows and hasn't really consolidated or anything.
 
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