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What's up with gold and silver? (Read 225 times)

MeisterEckhart

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What's up with gold and silver?
Jun 30^th, 2022 at 3:35pm

In London, then at the comex in New York yesterday, in intraday trading, the price of gold rallied from about USD1814 per ounce to about USD1832 between 6:00AM and 9:30AM NY time (a rise of nearly USD20 an ounce), before receding to USD1816 per ounce by 11:00AM NY time.

Another example of spoofing the market (that is currently the subject of a court case involving JP Morgan traders)?

« Last Edit: Jul 1^st, 2022 at 9:18am by MeisterEckhart »

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Gordon Gold Member Offline Australian Politics Posts: 20235 Gordon Gender:	Re: What's up with gold and silver? Reply #1 - Jun 30^th, 2022 at 3:43pm I'd have thought the correct wording order for these two commodities would be silver then gold. When used in adjective form, it would always be silver then gold.
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MeisterEckhart

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Re: What's up with gold and silver?
Reply #2 - Jun 30^th, 2022 at 3:46pm

Gordon wrote on Jun 30^th, 2022 at 3:43pm:

I'd have thought the correct wording order for these two commodities would be silver then gold.

When used in adjective form, it would always be silver then gold.

Silver is an industrial metal, so its price manipulation is justified by its use in technologies, like solar panels, for example.

That being said, it is the silver market spoofing that is currently the subject of a criminal case against JP Morgan traders.

What gold's excuse?

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MeisterEckhart Gold Member Offline Australian Politics Posts: 10533 Gender:	Re: What's up with gold and silver? Reply #3 - Jun 30^th, 2022 at 4:12pm Spoofing during intraday trading has the advantage of it not being so easily obvious, with end-of-day figures looking clean: Fri 24/06/22 $1,827 Mon 27/06/22 $1,821 Tue 28/06/22 $1,818 Intraday high $1832 Wed 29/06/22 $1,814 I'd bet someone's made millions without spending a cent.
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Bias_2012

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Re: What's up with gold and silver?
Reply #4 - Jun 30^th, 2022 at 7:48pm

MeisterEckhart wrote on Jun 30^th, 2022 at 4:12pm:

Spoofing during intraday trading has the advantage of it not being so easily obvious, with end-of-day figures looking clean:

Fri 24/06/22 $1,827
Mon 27/06/22 $1,821
Tue 28/06/22 $1,818

Intraday high $1832

Wed 29/06/22 $1,814

I'd bet someone's made millions without spending a cent.

George Soros?

Our Lives Are Governed By The Feast & Famine Variable

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MeisterEckhart

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Re: What's up with gold and silver?
Reply #5 - Jun 30^th, 2022 at 8:10pm

Bias_2012 wrote on Jun 30^th, 2022 at 7:48pm:

MeisterEckhart wrote on Jun 30^th, 2022 at 4:12pm:

George Soros?

JP Morgan &etc

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MeisterEckhart Gold Member Offline Australian Politics Posts: 10533 Gender:	Re: What's up with gold and silver? Reply #6 - Jul 1^st, 2022 at 11:30am The comex at it again with its bull/bear or bear/bull intraday trading habits.
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MeisterEckhart

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Re: What's up with gold and silver?
Reply #7 - Jul 1^st, 2022 at 11:37am

When unforeseen spikes in the end-of-day gold spot price (e.g. Feb/Mar 2022 - the reaction to the Ukraine invasion) are removed, the average spot price for 2022 is around USD1830.

Currently, any breakout above that in intraday trading is slapped down within about 4 hours - plenty of time for the mega-traders (corporations and countries) to make millions out of thin air.

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