24 APRIL 2014
A Comex Options Expiration 'With a Twist' - Where the Elite Meet to Cheat
"Tomorrow is an option expiration for the May precious metal contracts on the Comex. As May is not an active month, and the greatest contract activity is already moved to June, we may see an expiration with a twist."
When we were kids, we used to join hands in a line, and then swing hard around a pivot and play 'crack the whip' outside. Once we got going the people on the end of the line went flying.
If you look at the distribution of calls and puts in silver in particular the 'price discovery' this morning makes some sense. They were discovering what it would take to shake out the calls and puts for losses before they settled the price where it returned the greatest profit.
Oh no, you obviously do not understand the intricate processes of the market, say Shill & Troll. This is not cheating. This is hedging. Look at the Dollar and the cross markets. And besides, there has always been cheating so this is nothing new. And you can't stop it, they will always find a way. This is just business. No one made you buy those options.What we saw this morning is a classic shake-out fake-out. These guys make carnies look sophisticated.
If it were not for manipulation and a foolhardy few, there might be no interest left for the Comex.
Gold Slammed To Fresh 10-Week Lows Below Key Technical Level
What else should you do as Russian and Ukraine forces begin a serious un-de-escalation... sell precious metals with both hands and feet of course. The strength in stocks (whether channel-stuffed or not) is enough to make investors believe that we don't need no stinking Fed and that economy must be doing great all on its own. Gold is back below $1275, which SocGen warns could lead to $1233.
A close below 1275 will mean the extension of the correction to 1263/60 and possibly even 1233.
Gold has been evolving within a massive flat range since last June between 1400/33 and 1187/80.
Gold is breaking below the graphic support level of 1275, which has been acting as a median support in the main range. With daily RSI also breaking below a one-year support line a definite break below 1275 will extend the correction towards 1263/60, the 61.8% retracement of the last up move and 1233 (76.4% retracement).
Source: SocGen
GATA.....
Koos Jansen: Russia, Belarus, and Kazakhstan plan Eurasian currency union
Submitted by cpowell on Fri, 2014-04-25 00:14. Section: Daily Dispatches
8:12p ET Thursday, April 24, 2014
Dear Friend of GATA and Gold:
Gold researcher and GATA consultant Koos Jansen tonight reports on plans by Russia, Belarus, and Kazakhstan to form an economic and currency union:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Gold Anti-Trust Action Committee Inc.
Comex plans to get in on Asian gold trade, Reuters says
Submitted by cpowell on Thu, 2014-04-24 18:34. Section: Daily Dispatches
CME Plans to Launch Physically Settled Asia Gold Futures, Sources Say
By A. Ananthalakshmi and Frank Tang
Reuters
Thursday, April 24, 2014
Reuters
Thursday, April 24, 2014
CME Group Inc. plans to launch a physically deliverable gold futures contract in Asia, three sources familiar with the matter said, as the world's No.1 futures exchange targets rising hedging and investor demand in the top gold-consuming region.
An Asian contract from CME could help set a pricing reference for gold futures in Asia, much like its U.S. Comex gold contract sets the benchmark for bullion futures globally.
The move may also help CME boost flagging revenues from its precious metals futures and comes as its rivals are expanding their presence in Asia to tap demand from China, the world's biggest consumer of commodities, including gold. ...
... For the full story:
China and U.S. likely cooperate in gold suppression, researcher Koos Jansen says
Submitted by cpowell on Thu, 2014-04-24 02:40. Section: Daily Dispatches
10:43p ET Wednesday, April 23, 2014
Dear Friend of GATA and Gold:
China and the United States are probably cooperating for the time being in suppressing the price of gold so that China can obtain gold to hedge its foreign exchange surplus of U.S. dollars without collapsing the dollar's value or exploding the gold price, China gold market expert Koos Jansen tells Sprott Money News in an interview today.
Jansen, a consultant to GATA, adds that he expects China's next official announcement of its gold reserves to be in the range of 4,000 to 5,000 tonnes.
The interview is available in both audio and text at the Sprott Money Internet site here:
Meanwhile Jansen reports at his Internet site, In Gold We Trust, that Chinese gold demand remains in a downtrend over the last few weeks:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Gold Anti-Trust Action Committee Inc.
So central bank gold is being held in investment bank vaults
Submitted by cpowell on Wed, 2014-04-23 14:36. Section: Daily Dispatches
10:38a ET Wednesday, April 23, 2014
Dear Friend of GATA and Gold:
Today's Reuters report about changes at the gold and currency trading desks of investment banks, which was called to your attention in a dispatch a little while ago --
-- is notable for more than its acknowledgment that central banks are surreptitiously trading gold every day, an acknowledgement made last September by the Banque de France:
For in reporting that "banks that serve central banking customers with large bullion reserves to manage will have a greater need to offer gold trading and storage services," Reuters also has acknowledged that much central bank gold is now held outside central bank vaults.
That's what the reference to "storage services" is about.
Presumably the central bank gold being vaulted by investment banks is gold that central banks have leased or swapped into the market for market-rigging purposes.
Of course anyone who has been following GATA realizes that neither Reuters nor any other mainstream financial news organization will be permitted to pursue this issue, and that gold market "analysts" from CPM Group's Jeff Christian to the World Gold Council's Pierre Lassonde will conscientiously distract from it. So let's be grateful that Reuters has let this much slip and hope that the news service won't suffer too much official retaliation for it.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Gold Anti-Trust Action Committee Inc.
The current London Gold Pool will collapse as the first did, Grant Williams tells KWN
Submitted by cpowell on Wed, 2014-04-23 12:41. Section: Daily Dispatches
8:40a ET Wednesday, April 23, 2014
Dear Friend of GATA and Gold:
Singapore-based fund manager Grant Williams tells King World News that the gold market "is now a game of patience by those who can run the numbers and who mathematically comprehend that this price suppression simply cannot go on forever."
Williams adds: "This second London Gold Pool will be overrun just like the first one was. At some point this disparity between paper prices and physical demand is going to resolve itself, and when it does it will mean an explosion of the gold price to the upside."
An excerpt from the interview is posted at the KWN blog here:
Also at King World News, fund manager Stephen Leeb says China and Russia are positioning their currencies to revolve around gold:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Gold Anti-Trust Action Committee Inc.
Governments suppress gold to try to conceal inflation, Grant Williams tells KWN
Submitted by cpowell on Thu, 2014-04-24 02:50. Section: Daily Dispatches
10:50p ET Wednesday, April 23, 2014
Dear Friend of GATA and Gold:
Gold price suppression is crucial to Western governments that are creating vast amounts of money in the name of rescuing their economies, Singapore gold fund manager Grant Williams tells King World News. It's a matter of concealing inflation, he says. An excerpt from the interview is posted at the KWN blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Gold Anti-Trust Action Committee Inc.
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