LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek.com to Launch New Website
By: GoldSeek.com

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA

 
Search

GoldSeek Web

 
Hulbert thinks lousy sentiment, charts drag gold down, not central banks

By: Chris Powell, Gold Anti-Trust Action Committee Inc.

 -- Published: Wednesday, 28 May 2014 | Print  | Disqus 

Dear Friend of GATA and Gold:

Financial letter writer Mark Hulbert, commenting today for MarketWatch.com, says he knows what's dragging the gold price down -- unfavorable sentiment among other financial letter writers and unfavorable charts:

http://www.marketwatch.com/story/heres-the-real-reason-gold-is-falling-2...

It's no matter to Hulbert that by their own admission central banks are trading in the gold market "nearly every day," presumably for policy purposes rather than for fun competitions among their foreign exchange desks --

http://www.gata.org/node/13373

http://www.gata.org/node/12717

-- nor that, as noted by GATA consultant Rob Kirby of Kirby Analytics in Toronto, the U.S. government's broker, J.P. Morgan Chase & Co., maintains trillions of dollars' worth of interest rate derivatives that cannot possibly be hedged, cannot be anything other than government intervention in the bond markets:

http://news.goldseek.com/GoldSeek/1249407911.php

No, to hear Hulbert tell it, it's all lousy sentiment and charts -- as if that surreptitious trading by central banks might not be creating the lousy sentiment and charts.

Maybe technical analysts like Hulbert shouldn't be scorned too much. They can't want to believe in or even know about central bank intervention in markets because it would nullify their work, their whole careers, revealing that they have been interpreting mere holograms created precisely to deceive them. But the self-importance of these analysts is both ridiculous and insufferable.

In a time of comprehensive market interventions by central banks, technical analysis is no more useful than reading entrails or tea leaves. But there would be plenty of room for technical analysts in another occupation: financial journalism. They would need only to put a few specific questions to central banks about their involvement in the gold and interest rate markets and they would have financial journalism all to themselves.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


| Digg This Article
 -- Published: Wednesday, 28 May 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.