RE: Thank god !!!!13 May 2021 09:47
"What I can't understand" - from noggers.
Might this explain it noggers?
"Central Planners Intervene In Gold Market
So things quickly reversed, with gold and silver making new daily highs and the dollar falling to its low for the day. Then we got some price capping in the precious metals and what looks like intervention to keep the US Dollar Index above 90.
Importantly, T-bonds and T-notes did not reverse course. They continued to sell off. Even though the Fed is buying $80 billion of them every month, holders are dumping them because rising inflation is going to get worse.
That’s why we are getting the price capping in the precious metals. Open interest in both gold and silver has soared as the precious metals have been climbing in price.
Gold open interest expanded by more than $8 billion of new shorts selling into the buying coming from new longs, and that is just on the Comex. We don’t know how much forward selling was done in the over-the-counter market.
A jump like that in OI cannot be explained solely by hedging. Short-selling the precious metals has to be a major part of this huge OI jump. But with inflation at its highest level in 13 years and rising everywhere, who, other than central planners, would bet $8 billion by selling into all the new buying? No profit motivated trader would do that. "
From -
https://kingworldnews.com/gold-silver-stock-market-what-a-wild-day/
Sadly, it is from KWN, and KWN is perma-bullish on gold. It never gives up on the "Big rise soon", "Gold price to rocket" type of message. I learned years ago to ignore KWN, as the opinions on there are useless as advice on timing your trades.
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