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: