5 days up, 5 days downThe banks are controlling the CRIMEX price of gold. For 1 week (5 working days) it will rise, and then the next week (5 working days), the price of gold is shorted down. Shorting is estimated to start on Wednesday after the submission of data for COT report and end towards Tuesday the next week (maybe to hide the naked shortselling).
Armed with this knowledge, and given that last week we had 5 days of ascent, we are now in the 5 days of controlled descent of price of gold, shorts are shorting EQX with impunity since they know the price of gold will not be allowed to rise this week.
Is CRIMEX usually about 90% paper flying back and forth between specs and commercials (banks)? I do think so, so the price has nothing to do with physical since the commercials have position limit exemptions (unlimited shorts).