GOLD $100 RISE AND $ 100 FALL ALL IN THE PAPER MARKET
The proof of fake markets can always be found in the underlying real market. When gold rose $100 and then fell $100, the Swiss refiners, who refine 70% of the gold in the world, reported very low physical volumes both on the buying and the selling side.
GOLD $100 RISE AND $ 100 FALL ALL IN THE PAPER MARKET
The proof of fake markets can always be found in the underlying real market. When gold rose $100 and then fell $100, the Swiss refiners, who refine 70% of the gold in the world, reported very low physical volumes both on the buying and the selling side.
As usual, these fast moves in the precious metals take place in the paper markets where the casino players can shuffle billions of dollars of paper gold and silver. And they can execute these paper moves without ever touching an ounce of the underlying gold or silver bars.
We normally see some movement in ETF volumes when there are major price moves in gold. But as I explained in an article a few months ago, the ETF market is primarily a paper market or at best a market which consists of gold leased from central banks. When there is major buying of the biggest gold ETF GLD, the Swiss refiners seldom see an increase in sales. Instead the bullion banks are lending central bank gold to the ETF.
For that reason, anyone who buys gold for wealth preservation, should never buy a gold ETF but real physical gold.
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