i noticed. i have also noticed that the PoG gets always whacked in NY only, where GS has practically taken over the entire trade. all the pit traders have migrated to energy...they don't want to trade this manipulated market anymore. also, gold is especially weak on days when the Nasdaq gets slammed, to discourage notions that it might be a good hedge.
New York broker tells DJNewswire about gold manipulation:
The following comment was extracted from a Dow Jones Newswire report dated 26/07/00 ( 1410 GMT ) as received via Australian Associated Press: “Most ( market ) participants have been complaining about lack of volume in the market, with open interest at its lowest level in seven years.
John Tyree, a broker at Fimat ( ? ) in New York, said he’s been hearing that one major trade house “is running the market and has discouraged a lot of the locals, who have gone downstairs to the Nymex to trade energy futures. That may be contributing to depressed liquidity,” he said.
Another reason open interest might be down is that producers who recently promised to reduce their hedge positions have been buying back many of their short positions, Tyree added. - end of extract
New York broker tells DJNewswire about gold manipulation:
The following comment was extracted from a Dow Jones Newswire report dated 26/07/00 ( 1410 GMT ) as received via Australian Associated Press: “Most ( market ) participants have been complaining about lack of volume in the market, with open interest at its lowest level in seven years.
John Tyree, a broker at Fimat ( ? ) in New York, said he’s been hearing that one major trade house “is running the market and has discouraged a lot of the locals, who have gone downstairs to the Nymex to trade energy futures. That may be contributing to depressed liquidity,” he said.
Another reason open interest might be down is that producers who recently promised to reduce their hedge positions have been buying back many of their short positions, Tyree added. - end of extract
article on price suppression on the COMEX:
gold-eagle.com |
