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

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines to Launch New Website

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


GoldSeek Web

Clive Maund still can't admit that central banks diddle the gold market

By: Chris Powell

 -- Published: Monday, 19 February 2018 | Print  | Disqus 

Dear Friend of GATA and Gold:

Financial letter writer Clive Maund still can't bear the thought that central banks might be interfering with his technical analysis of the gold market.

In his "Gold Market Update" posted at GoldSeek today --

-- Maund writes: "There has been much grumbling and muttering within the gold community about how 'The Cartel' and the Comex, etc., are holding the gold price in restraint by means of naked short-selling, hitting the market with supply when trading is thin during public holidays and overnight, and so on, but the fact of the matter is that the reason the precious metals sector has taken a back seat for years now is that there have been hotter games in town, like biotech, bitcoin, cannabis, the FANGS, tech generally, etc., and endless quantities of cheap money to bid them up into the stratosphere."

Yes, all investment opportunities compete against each other, but not all of them have to compete against central banks, creators and dispensers of infinite money. After all, might not gold trade more positively if it was not constantly being jostled by a gold derivatives position of nearly 600 tonnes being managed aggressively every day by the Bank for International Settlements on behalf of its member central banks?:

If Maund thinks that central banks are not terribly important to the gold market, they plainly disagree with him. Will he not admit that they meddle in that market every day and that the longstanding public policy of Western central banks has been to suppress the price to defend their own currencies and government bonds? That policy is all over the archives that Maund strives to ignore.

Another financial letter writer, Michael Ballanger, in commentary also posted at GoldSeek today, "What the Markets Have in Common with the Film ‘Casablanca'" –

-- delivers a telling chart showing that the gold price was closely tracking the growth in the Federal Reserve's asset book until 2013, when Fed asset purchases went vertical even as the gold price strangely collapsed. "Try to pick the spot where the interventionalists targeted gold," Ballanger's chart says. Even Maund might be able to identify the spot.

"Why," Ballanger asks, "can the Fed buy, sell, and short (think volatility and gold) infinite amounts of anything and everything without ever getting a margin call? Are you not shocked -- shocked -- that the Captain Renault of bond vigilante-ism isn't closing down that casino?"

Close down that casino? Ha! Like Maund, most financial letter writers and nearly all mainstream financial news organizations can't even acknowledge that central banks have essentially commandeered all markets.

Such an acknowledgment would put most technical analysis and financial journalism out of business.

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

* * *

Join GATA here:

Mining Investment Asia
Monday-Wednesday, March 26-28, 2018
Marina Bay Sands, Singapore

Mines and Money Asia
Tuesday-Friday, April 3-6, 2017
Hong Kong Convention and Exhibition Centre

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit:


| Digg This Article
 -- Published: Monday, 19 February 2018 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2019 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of 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 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


The views contained here may not represent the views of, Gold Seek LLC, its affiliates or advertisers., 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, Gold Seek LLC, is strictly prohibited. In no event shall, 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.