(emphasis mine) [my comment]
A NEW GOLD WAR? - Addendum
NY MANIPULATION of the spot POG
It has been one week since the GOLD-EAGLE published my analysis of the conflict between the gold market's overseas trading and its NY activity. If a pattern is more than a chance relationship among elements then it should prove predictive of subsequent events...
Now let's look at the new data additions. This week's data strongly support the previously identified trend. For 4 out of 5 trading days the overseas trading resulted in an increase in price at the London AM fix. And just as convincingly, for 4 out of 5 trading days, the Kitco-reported NY spot closed below the London AM fix.
So, there we have it. An identified pattern, which strongly suggested NY MANIPULATION of the spot POG, has predicted activity during the week following its discovery.
Look for a future article where I will tackle the societal structures that make such an event possible, hard to detect and extremely difficult to shut down.
Goldensextant reports about the Preemptive Selling in COMEX Gold.
June 18, 2001. Guest Article: Mike Bolser Updates His Study of Gold Manipulation on the COMEX
Preemptive Selling in COMEX Gold: An Update
By Michael Bolser
This article updates an earlier study, Anomalous Selling in COMEX Gold 1985 to November 2000, which I published in late 2000. It validated Dr. Harry Clawar's earlier findings of consistent, predictable COMEX selling against a rising overseas market component. Dr. Clawar has since published updated conclusions, which reveal that in four out of five trading days over a one-year period the COMEX closed lower than the London AM fix. My earlier study utilized the concept of preemptive selling, a condition that occurs when the dominant forces on the COMEX sell gold three times lower than the same day's decline on London market.
The World Gold Markets
E-goldprospecting explains about the Hong Kong gold market.
The next large market to trade is Hong Kong, its pricing is reflected in the ACCESS quotes. The Hong Kong market is venerable in itself, having first traded gold in 1910, when British banks thought that they might need a mechanism for trading gold in the Orient. Presently it is the launch site for gold headed to mainland China, one of the fastest-growing gold markets in the world. As a matter of fact, the entire Asian market has been so active in recent years that American and European gold traders who travel there talk about it in wistful tones normally reserved for the American market of the late 1970s and early 1980s. This market is highly influential in Asia, due to the fact that Hong Kong is where Japanese investors, banks, and financial houses occasionally hedge their orders and make their physical purchases. It is also in a time zone that fits perfectly with the business day of traders in Saudi Arabia and the rest of the Persian Gulf, especially the new and quickly growing market in Dubai.
If Hong Kong gold is moving, it is usually because they are buying or selling of the Middle East investors. Large quantities of Hong Kong gold are also manufactured into jewelry for export throughout Asia. For the most part, Hong Kong serves as a convenient midpoint in a trading day because it fills the gap between markets in the United States and Europe.
[The Hong Kong gold market is the only place sharp unnatural selloffs never occur.]
My reaction: For anyone who keeps track of gold prices on a daily basis, the manipulation is as clear as day. For anyone out there who still doubts that gold prices are being heavily suppressed by the US and the UK, I have included a dozen gold charts I have saved up during the last few months (nearly all of May and June). By looking at these charts of the 24-hour spot price of gold, the meaning of "four out of five trading days over a one-year period the COMEX closed lower than the London AM fix" becomes perfectly clear.
Time zone color code
To help make the manipulation of gold even more crystal clear, I have added a time zone color code.
Green: Period when the Hong Kong gold market is open, but before the open of the London gold market. This is the only time of the day where gold prices are NEVER attacked (ie: no sharp selloffs).
First Blue: Period after the London gold market opens, but before the Hong Kong market closes. Generally, nothing to dramatic happens here, however there are occasional sharp selloffs.
Yellow: Period when only London physical gold market and NY GLOBEX are open. While the London is a physical market (which makes more difficult to manipulate), London is deeply involved in the suppression of gold. It is central banks dump their gold onto the market (via leasing or direct sales).
First Orange: Period after COMEX gold trading begins, but before the London market closes. The orange and red is where gold rallies are killed and brutal selloffs occur. Consistently, gold will go into the orange/red in rally mode and come out the other side in a selloff. It is also where gold prices go off a cliff as a result of relentless selling in the NY paper gold markets. (Any rallies in this first orange time zone are due to the London physical gold market being open)
Red: Period when only the COMEX gold market (NYMEX) is open. There is one day (May 21) that gold actually managed to rally in the in the red. That day also saw an abnormal surge in open interest on the COMEX, whish means someone was shorting the hell out of gold at the same time as the price was rising. (See *****Who sold 65 tons of COMEX gold in the last two days?*****)
Second Orange: Period after the COMEX closes until the Sydney gold market opens.
Second Blue: Period after Sydney gold market opens but before Hong Kong market opens. Again, most of the time nothing drastic happens here, except for the occasional sharp selloffs.
3 Things to look for in the graphs below:
1) In the charts below, gold prices repeatedly spike downwards due to intense selloffs. Notice that these downward spikes never, ever happen in the green time zone.
2) All the big sharp upwards spikes in gold prices only happen when the physical gold markets are open. The Sydney, Hong Kong, and London are the physical gold markets.
3) Notice how the orange/red time zones seem to suck the life out of gold prices, while the green/blue time zones seem to put gold into rally mode.
See How Governments Manipulate the Gold Market (Tuesday, March 3, 2009)
See Increasingly Blatent Attempts to Suppress Gold Prices Are Evidence Of Desperation (Thursday, April 30, 2009)
See Travelling And Gold Breaking Upwards (Tuesday, May 12, 2009)
See *****Gold Prices Breakout Despite Suppression Efforts***** (Wednesday, May 20, 2009)
See *****Who sold 65 tons of COMEX gold in the last two days?***** (Friday, May 22, 2009)
See *****Clear Manipulation Seen In COMEX Gold Open Interest***** (Thursday, May 28, 2009)
See *****Comex And London Gold Vaults Being Emptied***** (Friday, May 29, 2009)
See More Strange Action In Precious Metals (Sunday, June 7, 2009)