Forum Post: gold jinyu Oct. 29th precious metal (gold) price trend analysis
Posted 10 years ago on Oct. 29, 2014, 4:39 a.m. EST by goldhj
(7)
This content is user submitted and not an official statement
International gold price rebounded slightly last trading day, once dropt to 1222 then climbed up again, being pressed after surged to about 1234 in Europe trading time, all the way down to 1228 in U.S. trading time. Gold raised slightly in today’s Asia trading time, based around about 1229. U.S. September durable production orders and August HPI are not as good as expected, USDX was pressed by that and dropt to about 85.3, yet October manufacturing index was strong, and boost USDX to rebound, gold on the other hand went downside. Currently gold daily chart price is correcting around bollinger band center line after yesterday’s winning streak, MACD signal and main has already merged, possible market fluctuation. Trading short in intraday trading would be a good choice.
What they're trading on the markets is balloney. Its not real gold, but gold certificates; essentially paper. The price of gold is being artificially suppressed. if one wants to know the real price, one has to see what its selling on the street; or more like the local jewery store.
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The LME price is the actual price for both Paper and Physical.This would be the price you find everywhere.You are correct that the way the price is manipulated is by dumping huge Paper Gold at LME every night-Banging the Close.A similar operation takes place every morning in NY-Bombing the Crack.There are any number of reasons for this.Right now,crushing Gold is harmful to Russian Banks,helps prop up USD and is a Sucker Trap for those who possess Physical who are easily Rattled.I agree with you that the Paper is worthless.It is possible that Banks are under pressure for Delivery and they want to crush Gold and Silver as much as possible so people will stop demanding delivery of Physical.Also,Banks like Goldman Sachs might want to ruin the Mining business by crushing Gld & Cpr-a byproduct of Gold mining which the sale of is crucial to mining companies.They can then acquire the mining companies that go belly up for a fraction of their worth.
The physical right now is trading for prices well higher than what is being quoted on the official exchanges. (Check out your local jewler. If your anywhere near D.C. check out this place called Eden Center. A LOT of gold is traded there.)
Nice to Beat You Gld 1,212.50 -12.40 -1.27% Slv 17.09 -0.17 -1.01% 1.01% Cpr 308.65 -1.80 -0.58 PM's on a steady fade after hour tonight 3rd Degree Burns Over The Whole Body With Death Imminent Can't Stop Business As Usual Crude Oil WTI 82.00 -0.20 -0.24% Brent 87.12 +1.09 +1.09% Sheep on Dope Trapped On Slope Djia 16,974.31 -31.44 -0.8 S&P 500 1,982.30 -2,75 -0.14 Nasdaq 4,549.23 -15.07 -0.33 More Hookers,More Blow Ftse 100 6,453.87 +51.70 +0.81% There's Always A Nailgun In Case of The Unthinkable Cac 40 4,110.64 -2.03 -0.05 Neatness Counts Dax 9,082.81 +14.62 +0.16 Mrs.W Tries Home Remedy Nikkei 225 15,554 +224 Would You Like A Noodle With Your Hot Sauce? Hang Seng 23,819.87 +299.57 +1.46% Shanghai 2,373.03 +35.16 +1.46% What A Differenc A Day Makes Vixy :US 20.6200 +0.3100 +1.53% Vxx:US 31.0190 +0.5190 +1.70% Xiv:US 34.3300 -0.6200 -1.77% 10/29/14 8:34 pm est