Friday, January 12, 2018

Like clockwork, the gold cartel comes in and dumps over 12,000 contracts in a single minute to try to slowdown rising gold price

Another Friday, another hit job by the gold cartel.

On Jan. 12, and right about when New York markets were just opening, over 12,000 gold contracts were dumped into the futures market to try to slow down a gold price that had risen nearly 1% in overnight trading.

Using an estimated $1.6 billion to try to slow down the precious metal, the move dropped the gold price down from $1333 to $1325 in less than one minute.

At 8:30 a.m. EST, we received a double-dose of data dumps on the market – CPI (Inflation) and Retail Sales. 
And since the metals had been rising through the night and into the morning, the cartel decided to dump a massive amount of paper to stem the rise: 
Nobody in their right mind decides that they have to all of the sudden sell over 12,000 contracts in one single minute in an illiquid time before the market is even officially open. 
That is what we call “precious metals price suppression” 
The amount of gold that was “sold” (at the last price of approximately $1331.50) represents over $1,618,837,700 in dollar terms. – Silver Doctors
Yet despite this obvious dump, the price has since rebounded over $3 in the past hour, and appears likely to close out the week at or above the $1330 level. 

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