Loading ...You couldn’t have a more managed, algo-driven situation. How on earth is this “price discovery”? Whenever I hear talk of gold “prices” they most certainly ignore this OBVIOUS rigging into account. Of course if you follow the Great Guru Bubba you aren’t troubled by any criminality, and gleefully take any of his reco’s, many of which have been dead WRONG btw. As they probably say around the JPM bucket shop, boys will be boys, and algos will be algos.
If there was any true price discovery going on it would be reflecting headlines like these:
Comptroller Warns 1 In 5 Jobs Will Evaporate As NYC Faces Biggest Crisis Since Great Depression
Illinois Delays $1.2 Billion Bond Issue. Will It Tap New Fed Bailout Program?
TBAC Sees “Perfect Storm” In Bond Market, Warns Flood In New Debt May Impair “Market Functioning”
“Unprecedented” – Companies Slashed Over 20 Million Jobs In April, ADP
Unimaginable U.S. Jobs Report Takes Center Stage: Eco Week Ahead
These are the headlines of a Fed on the road to $100T of money creation. The most catastrophic economic global event in centuries, if not millennia, should have gold up 500% instead of a mere 10-15%.
Trading volume in both metals remains miniscule. Gold finished yesterday at 211K, silver at a rock-bottom 35K.
James Mc tonite in Murphs mkt wrap
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