MNI Reports Coordinated Central Bank Intervention Sends Gold Lower Intraday

It is one thing for conspiracy websites to indicate that the Fed or the global central bank cartel are doing everything in their power to manipulate the price of gold lower. It is something different when the 'reputable', Deutsche Boerse owned Market News does just that.

• MARKET SOURCES REPORT BIS, BOE & FEDERAL RESERVE WERE SELLING GOLD AFTER IT POPPED TO SESSION HIGH AT GMT 1335 -MNI NEWS via BLOOMBERG

So much for all those sworn testimony claims that the central bankers do not manipulate the price of gold.

h/t GoldCore

Comments

[navy62802]

That was quite a sudden plunge in gold prices this morning.

[cocoablini]

That's due to dollar strength. The EU has to borrow dollars to pay off their stupid debts denominated in Euros. The euro economy is in huge deflation and the currency is strong as hell because of deleveraging demand. The dollar is easier to get, but still these mad rushes to get it cause delivering and selling of all asset classes including gold- if you were busted on a margin call. Margin calls can be intentional if the banks want to hijack your positions. Hence when The Commodities boards hike margin and squeeze your gold,silver from your weak hands and create a dump.
We are also getting close to options expiration week again.
Just remember, gold gets dumped in a deleveraging event but then becomes the go-to currency after the sovereigns start to hopelessly put out deflation fires with easy credit and free money.
This is no shock, and gold weakness is telling me that we will get close to an implosion very soon in the entire financial sector. The CBs will be grabbing all gold along the way by force and who knows what is next.
If the system survives, gold will be crushing it and gold miners basically the only equity class making a buck except for the military industrial complex