Saturday, Apr 19, 2008
New York Globex: Gold manipulation at new levels
Market Oracle: Why Gold Was 'Hacked' Friday- and How
A $35 price drop in gold coupled with the secretive launch of a brand new, super fast, 33 trades per second global trading platform for gold. What a coincidence!
Posted by sold 2 rent 1 @ 07:14 PM (3359 views) Add Comment
10 Comments
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1. techieman said...
s2r1 - i have heard of Globex and traded on it - actually years ago. http://www.cscorp.co.uk/GLOBEX_Brochure.pdf
I dont buy into this article and am a bit surprised you do (if you do) ! I did say when we last spoke what i expected the market to do - i.e. go higher this last week and then some downside.
2. Paolo88888 said...
Another article which scorns "paper gold". To counter this may I just point out that the ETF price tracks the price of the physical because of arbitrage, which an ETF has a well-defined, frequently used procedure for doing.
To demonstrate this, the following link downloads a spreadsheet of data for a Gold ETF which includes the number of shares in issue and the tonnes of gold owned by the trust:
http://www.ishares.com/product_info/fund/excel_historicaldetails.htm?ticker=IAU
For example, over three tonnes of gold was redeemed from the trust on 26th March. I post this because if I think that the writers of these articles against Gold ETFs appear to view the idea of redeeming or creating units as a rare event, which cannot be relied on to make the ETF track the underlying. The figures should give more confidence.
3. paolo88888 said...
Another article which scorns "paper gold". To counter this may I just point out that the ETF price tracks the price of the physical because of arbitrage, which an ETF has a well-defined, frequently used procedure for doing.
To demonstrate this, the following link downloads a spreadsheet of data for a Gold ETF which includes the number of shares in issue and the tonnes of gold owned by the trust:
http://www.ishares.com/product_info/fund/excel_historicaldetails.htm?ticker=IAU
For example, over three tonnes of gold was redeemed from the trust on 26th March. I post this because if I think that the writers of these articles against Gold ETFs appear to view the idea of redeeming or creating units as a rare event, which cannot be relied on to make the ETF track the underlying. The figures should give more confidence.
4. harold said...
Mmm, seems plausible to me.
5. sold 2 rent 1 said...
TM,
But why has Globex suddenly appeared on Kitco charts?
I am going with my intuition here.
Gold is in an Elliott wave 4 correction here.
We are going into a political and economic storm in May and June.
Gold is going to 1500+ by end of June...ish
GBP could fall sharply against the USD so even more gains to be had.
I am buying more gold next week.
6. James said...
YES!!! I go away for a week and s2r1 does it! A falsifiable prediction!
"Gold is going to 1500+ by end of June...ish"
I'm holding you to that. I'll even give you to the end of June because you put the -ish on!
7. This comment has been removed as it was found to be in breach of our Blog Policies.
8. Emanuel said...
Can anybody tell me, does SPDR GLD has a 1 to 1 back up of real gold to its market value?
9. This comment has been removed as it was found to be in breach of our Blog Policies.
10. Robert said...
gold sh ..ould trade in the 1325 to 1430 range for the next 45 days(without a crisis) then move towards 1500 over the following 3 to 4 months so buy on severe retractios.