The bullion banks let the price rise, they know where the longs stops are.
They then dump contracts to make the price fall through the stops and a wave of selling erupts. Later they cover their shorts. Hopefully the new SCO gold exchages will come soon, setting the price away from the west.
It would be welcomed if the west lost control of the gold price, but I am skeptical, in spite of your stellar analysis. I've been watching the price for 30 years, buying or selling as the mood suits me, and reading and listening to all the pundits and detractors of the metals all that time. The end of control of the gold price has been a common thread, and nothing really changes. The market always controls the price.
Great work. As you say, this could mark a significant secular shift.
The bullion banks let the price rise, they know where the longs stops are.
They then dump contracts to make the price fall through the stops and a wave of selling erupts. Later they cover their shorts. Hopefully the new SCO gold exchages will come soon, setting the price away from the west.
It would be welcomed if the west lost control of the gold price, but I am skeptical, in spite of your stellar analysis. I've been watching the price for 30 years, buying or selling as the mood suits me, and reading and listening to all the pundits and detractors of the metals all that time. The end of control of the gold price has been a common thread, and nothing really changes. The market always controls the price.