Thunder Rains Down on Market ‘Manipulators’

Posted by on March 29th 2012 in Bailout, CFTC, Federal Reserve, General Economy, Gold, Monetary Policy, Quants, Short Sellers, Silver, Ted Butler, Wall Street | Be the first to comment!

The latest issue of Paul Mylchreest’s Thunder Road Report claims “massive manipulation (suppression) of the gold price since the US sovereign credit downgrade on 5 August 2011.”  As described by Mineweb‘s Lawrence Williams, “Mylchreest backs up his arguments with a succession of Kitco daily gold price charts which show, in his view – and his arguments are compelling – that there are some obvious market sale algorithms in place which kick in virtually every time the gold price starts accelerating upwards.”

“And what applies in the gold market,” notes Williams, “is equally apparent in what occurs in the much smaller silver market – although to an extent with movement in the gold market tending to have an immediate effect on silver too it is normally not necessary to intervene in both.  However it was apparent  last year that when the silver price was seen as getting out of hand independent of the gold market there was a massive intervention when markets were closed which has considerably rocked investor confidence in silver ever since.”

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