The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label uk elections. Show all posts
Showing posts with label uk elections. Show all posts

Thursday, June 8, 2017

Gold slammed one day before UK elections out of fear of price breakout over $1300

Earlier this morning, and just before the ECB's rate hike announcement, someone dumped $4 billion in naked short gold contracts onto the Comex futures market in order to slam down the price heading into two potentially large events which could have easily pushed gold over its next level resistance.

This naked shorting was the largest in over a month when the bullion banks sought to coax the price lower 17 days in a row to embark on some short covering of contracts going back to the November Presidential elections.

However, Draghi's interest rate nothing burger coupled with the former FBI director James Comey appearing before Congress were probably not the primary reasons for the slamdown in gold today.  But instead it may well be tomorrow's UK elections which are the main fear for those holding short positions in the precious metals as the last time there was a major election in Britain, gold shot up over $100 in a single day.
The metal broke through a more aggressively drawn resistance line already this week and now must meet the challenge of a few more resistance zones.
Gold bugs have tried to be patient with it these last few months and are hoping they are rewarded with a new breakout. 
King World News note: That is why the price of gold was pushed lower today. If the price of gold takes out the $1,300 - $1,310 resistance zone, it will indicate a massive breakout is underway. And as Adams correctly pointed out, that would trigger:
“…if it (gold) can just get over $1310 or so, it should have a good chance to once again challenge its highs from last July.” 
KWN note continues:  So, yes, if that major breakout would have unfolded today, it would have opened the door for the price of gold to challenge the highs near $1,380 from July.  - King World News

Wednesday, April 19, 2017

Deja vu as traders dump another $3 billion in naked gold shorts following UK's vote for snap elections

Just as with yesterday, it appears that the market manipulators are desperately trying to beat down the gold price as geo-political events continue to dictate the global narrative.  And with 22,000 naked short contracts not being enough to kill sentiment in the gold market on April 18, either the same or some new bullion bank upped the ante with a 25,000 contract short earlier this morning.

In fact today's gold price manipulation occurred shortly after news hit the wire that the UK Parliament had approved Theresa May's request for snap elections, and for Britain to accelerate their plans for leaving the EU.
As totally expected, Theresa May - following a contentious debate - won the UK parliament vote to allow a June 8th snap election by a count of 522 to 13, well above the two-thirds majority needed. 
Opposition leader, Jeremy Corbyn welcomed the poll but accused the PM of changing her mind and breaking promises on a range of issues. 
The result triggers what will be an intense seven-week campaign in which the U.K.’s relationship with the EU will be the focus. - Zerohedge