If ‘hardly anyone’ cares about gold, why are central banks all over its market?
By: Chris Powell, Secretary/Treasurer, GATA
GoldSeek.com
Sunday, 11 September 2016
In commentary posted today at GoldSeek headlined “Explaining the Moves in the Gold Price” —
http://news.goldseek.com/SpeculativeInvestor/1473429960.php
— financial letter writer and technical analyst Steve Saville again cites some charts to claim that gold is performing just as expected in relation to other markets without regard to any “whims/abilities of evil manipulators.”
There are only two explanations for this correlation, Saville writes. “One is that the currency and bond markets, both of which are orders of magnitude bigger than the gold market, are being manipulated in a way that is designed to conceal the manipulation of a market that hardly anyone cares about. The other is that the gold price generally does what it should do given the performances of other financial markets. Only one of these explanations makes sense.”
Actually, there’s a third possible explanation for the seeming consistency of Saville’s charts: that governments are meddling in all these markets because they are connected and because a disparity in one might expose and upset the manipulation of the others.
As for Saville’s assertion that gold is “a market that hardly anyone cares about,” it can be questioned in many ways. For example:
Why has the Bank for International Settlements just returned to the gold swap business?
The Rest…HERE
