RE:Chris Powell: Gold market manipulation update, Nov. 2019 Su Thanks for posting that up to date article Goldcross. I especially found interesting th first little bit of it.
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The central bank-instigated smashdowns that used to depress prices
for weeks or even months are failing to keep prices down
for more than a few days.
ILLUSTRATION: New York Commodities Exchange building
The gold futures market of the New York Commodities Exchange is operating very differently. Most contracts seeking delivery are now being converted through a rarely used mechanism called "exchange for physicals" whereby they are settled somewhere off the exchange, apparently in London. Until recently the "exchange for physicals" mechanism was said to be used only in emergencies. Now it seems that everything is an emergency.
The implication here is that there is little or no gold available
immediately in Comex vaults. Whatever it means,
there is a huge change here.
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I wonder if the new Shanghai Comex offices will allow them to revert back to normal as they won't be under as much SEC investigation there ?
Although only anecdotal it seems to me that when the US stock makets are up lately gold still takes a hit but not so much as before and sometmes the gold price even goes up along with the DOW.
I think we are going to see gold strength here for a while and if the markets crash (unlikely soon with the new not QE) then gold will probably be the go to for value safety not bonds bitcoin has already showed its vulnerable.
In 2008 gold went down with the stock markets for a while but as Dec 2019 showed us that might not be the case going forward.