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

Commentary : Gold Stock Review : Markets : News Wire : Quotes : Radio : Silver : Stocks - Main 
  
 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Things That Make You Go Hmmm: Signing Off
By: Grant Williams

The 10th Man: May the Fourth
By: Jared Dillian

Asian Metals Market Update
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain Almost 1%
By: Chris Mullen, Gold-Seeker.com

Laughable FOMC Statement Sets New Central Bank Credibility Low Until the SNB One Ups It
By: Andrew Hoffman

Why Russia Will Halt the Ruble’s Slide and Keep Pumping Oil
By: Marin Katusa, Chief Energy Investment Strategist

A Little Pillow Talk Turned Her Husband On to Bonds
By: Frank Holmes

Gold: The Year Ahead
By: Jeffrey Nichols

Five Rare Birds Sing a Wise Tune
By: Dennis Miller

The Stuff Is Already Hitting the Fan in the Currency Markets
By: Graham Summers

 
Search

GoldSeek Web

 
Did Goldman Sachs just blatantly manipulate the gold price down?



-- Posted Tuesday, 15 July 2014 | | Disqus

By Peter Cooper

If the gold market was a horse race then after yesterday’s sudden fall for no apparent reason observers would be calling for a stewards’ enquiry. Certainly those looking at a replacement for the London gold fix ought to be paying attention.

Just days after Goldman Sachs renewed its propaganda onslaught against the precious metal in a long article on Bloomberg the price dropped by 2.3 per cent, its biggest one day drop this year. Did it fall or was it pushed?

Blatant manipulation

Veteran gold trader Jim Sinclair quickly offered an answer on his website: ‘Manipulation such as the sale of $1.3 billion dollars worth of paper gold at an illiquid time period today is not to protect the dollar or bull the general equity market.

‘It is to make money for the manipulators that want here to cover their shorts and initiate to expand their long positions. That sale was a pure construct as there was no news to sustain the sell or to initiate it in the time span of its occurrence.’

It is not often that manipulation is so blatant. But the timing so soon after the Bloomberg piece on Goldman’s bearish stance on gold is perhaps mere coincidence. And pigs can fly.

Mr. Sinclair reckons this could be the last take down of the gold price which ‘will make new highs after the failure of this clearly false price construct of this morning’s illiquid time period.’

The gold price did indeed appear to rebound this morning.

http://www.arabianmoney.net/

 


-- Posted Tuesday, 15 July 2014 | Digg This Article | 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 - 2014


© GoldSeek.com, Gold Seek LLC


GoldSeek.com Supports Kiva.org

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.

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.
OilSeek.com