RE: Firmly in the grip19 May 2019 12:03
Morning.
You've always gotta look at both sides of course like any play but all the more so when it's as manipulated as the gold price is.
Banks are buying physical gold by the tonne on an increasing basis and they're obviously doing that for a reason - those guys own this "market" via paper suppression and physical buying.
If someone has a different angle on paper suppression to facilitate humongous long-term physical hoarding ahead of an almighty boom then I'm all ears.
Of course, in that scenario, you've gotta be thinking that you're going to hit an inflection point eventually but who knows the price/timing of that. It could be "now", could be three months away (probably my pick at the mo as things stand), could be next year.
$1,275 is a big pivot for me for sure but if they can dump it to $1,205 really quickly then that would be a pretty epic make/break shout for gold bulls/bears (mid 600s here perhaps??) as it'd likely be the final "higher low" print against the manipulated flat-top of mid $1,300s beyond which lies mid $1,500s as an absolute certainty IMO if/when mid $1,300s goes.
How far below $1,205 if they can force that break with paper? Pick a number obviously but c$1,160 would capture my attention and, yes, lower than that would presumably have people looking for $1,040 double-bottom to target a return to $1,700s - there's an outstanding gap up there so she's going back there at some point fo sho IMO.
As for this - obviously a pivot here at low 700s but a quick -10% to mid 600s would be "nice" too if that happened to coincide with gold bouncing hard of very low $1,200s but if they really want to murder her to load up on a massive leveraged gold/silver play then perhaps we'll see a fiver or so.
The Dollar? Well if they know what long-term the play is - and they already do of course - then Dollar pumping/gold paper suppression whilst they're hoarding physical is *precisely* what you would expect to see ahead of a game-changing reversal in those prices, a change that will most likely run for a number of years (ala SPX/DOW) otherwise they simply wouldn't bother.
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