"What a piece of work is a man, how noble in reason, howinfinite in faculties, in form and moving how express andadmirable, in action how like an angel, in apprehension how likea god! the beauty of the world, the paragon of animals."William Shakespeare, Hamlet
Who could turn a blind eye to such obvious market abuses? They must hate us for our efficient markets and deliberate, data-based price discovery.
Oh yeah, the active December delivery month is right around the corner, and their cupboards, while not necessarily bare, are packed with IOUs. And gold is threatening to break out at a key resistance level.
So volatility is not unexpected. What is disturbing, however, is the blatant price manipulation and running of stops by big players acting with impunity, with the implicit endorsement of the exchange and regulators who can see nothing, and know nothing.
And both China and Russia are buying gold. And the Western banks do not like it, because it seems like a threat to the supremacy of the Dollar.
So let's blame the Swiss. Swiss Gold Poll Shows 47% Nein
"Then, of course, some 'technical levels' got triggered.”
Send in the clowns, with drones.
