Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

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

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

Gold Seeker Weekly Wrap-Up: Gold Dips on the Week While Silver Rises Almost 3%
By: Chris Mullen, Gold Seeker Report

Taiga Launches Website, Sets Tentative CSE Trading Date
By: Eagle Plains Resources Ltd.

Economics 101: Who Sets Prices?
By: Alasdair Macleod

Silver Breakout Or Fakeout?
By: Mike Maloney and David Morgan

COT Gold, Silver and US Dollar Index Report - April 20, 2018
By: GoldSeek.com

Gold Nearing Bull Breakout
By: Adam Hamilton, CPA

Surmounting The Greatest Market Threat
By: Deepcaster

GoldSeek Radio Nugget: John Williams and Chris Waltzek
By: radio.GoldSeek.com

Turkey Takes Possession of 220 Tons of Gold Repatriated from Federal Reserve
By: Rory Hall

Black Monday II - Repricing of Risk Begins
By: Gordon T Long

 
Search

GoldSeek Web

 
Bankers Planning to Raid Gold Futures This Week?


 -- Published: Monday, 6 January 2014 | Print  | Disqus 

By JS Kim

This week is a big economic statistic reporting week for the US economy. On Wednesday, at 8:15 AM NY time, the ADP employment number will be released, which represents data from about 24 million employees from 19 of the major North American Industrial Classification (NAICS) private industrial sectors. This number will then be followed by release of the US Central Bank’s Open Market Committee’s (FOMC) minutes at 2 pm NY time. Then on Thursday, the US will release at 8:30 AM weekly jobless claims data and end the blitz of economic data by releasing non-farm payroll and unemployment rate data at 8:30AM NY time on Friday.

I must warn you that the US Federal Reserve, the Bank for International Settlements, and the bullion banks have always sought to raid the gold futures markets during times of heavy and significant economic statistic releases, and I don’t believe that this week will be any different, especially given the US Administration and the banking cartel’s desperation to keep selling their story of a “continued economic recovery” in 2014. For example, Credit Suisse incredulously just released an article predicting a bull market in the US dollar in 2014 and the Times of India just released an article stating that “Gold is no longer a safe investment” because of one bad year that followed 12 consecutive years of rising prices. Imagine if the mass media ran articles declaring “US stock markets no longer a safe investment” after 2008, when the US S&P 500 crashed by 50%, a far worse crash that gold’s 29% decline in 2012. Can’t imagine this ever happening? You’re right, because it never would happen.. What better way to start off the New Year with this continued theme than a major bang in economic statistics and one final raid on gold prices? Thus I believe that there will be some “manufactured” statistics that produce some upside surprises to the consensus forecasts for the weekly jobless claims number (335,000), the nonfarm payrolls data (190,000) or in the FOMC minutes released this week combined with a raid on gold futures to keep deception and misinformation of reality of the public at a high level.

Though gold is currently trading at about $1242 as I write this, don’t be surprised if gold is raided heavily this week again for one final time, even to the sub-$1,150 level, which would represent a $100+ drop from current levels, before then reversing rapidly for good for the remainder of this month.

https://www.smartknowledgeu.com/index.php


| Digg This Article
 -- Published: Monday, 6 January 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 - 2017



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

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com 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, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.