The United States and European nations have been and are continuing to sell gold to keep the price of gold depressed and the value of their currencies up. The telltale signs are obvious in the hourly gold prices since 2011. Almost every workday the US government places a very large order to sell gold between 9 and 10 AM EST which forces the price abruptly down by as much as ten dollars per ounce. Their intent is to make gold purchasers nervous and entice them to cut their purchases and possibly to join in the selling of gold. Some European nations in concert with the US have also been placing large sell orders at 2 AM EST time, which is 9 AM in Europe, to depress the price of gold. This effort has been effective in depressing the gold price from $1,700 per ounce in 2011 to $1220 per ounce in January of 2014. That gold depression has kept the value of the dollar and Euro up in spite of the massive printing of unbacked dollars and Euros which normally would have caused high inflation in dollar and Euro prices. That has also kept the US and European stock market bubbles from bursting as they should have otherwise. However, the American and European investors have been getting very nervous about the stock bubbles and, expecting a crash any day now, have been buying gold even faster than the US and European countries have been dumping it. The result is the average weekly gold prices have steadily risen since January 2014 from $1220 per ounce to $1387 per ounce. This morning, March 17, 2014, European nations placed three large sell orders which caused 3 large drops followed by 3 lesser spikes one-and-one-half-hours apart as purchasers continued to purchase. Then at 9 AM on cue, the US placed a large gold sell order which like the European orders forced the price again down. So as of 9:30 AM EST the price of gold had been forced down from $1387 per ounce to $1379 dollars per ounce. Then again investors bought gold and started forcing the price up again. It is apparent that the global fear of stock market drops like those of 2003 and 2010 when stock prices dropped by 38 percent and 54 percent respectively are pushing investors toward gold. That is a harbinger for a stock bubble burst which the US and Europe have been playing the gold market in an attempt to avoid since 2011. The US and European nations only have so much gold they can dump on the market before they undermine their own financial futures and when they reach their limit the price of gold will skyrocket as the US and European stock market tank and US and European inflation becomes rampant. The inflation will finally catch up to where it would have been if the US and European nations hadn’t been selling gold to prop their dollars and Euros up. Hold on to your seats folks, because it’s going to be a rough ride.
Posted on: Mon, 17 Mar 2014 14:53:41 +0000
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