As we know the cartel plan is to ALWAYS disrupt any bullish gold sentiment, and to ALWAYS influence perception at key times. The cartel's plans A, B, and C you often mention are obviously 3 of those key times during the global trading day. Days like today's Fed speak and Friday's NFP are virtual poster children for outrageous manipulation. It amazes me though how little effort (and actual cash) it takes with the help of derivatives and algos. Monday's rally was essentially capped at 1%. (+$13.80, or +0.96% basis Comex close) Yesterday was mostly steady, and you could feel the down, hard routine coming a mile away. So what did it really take to pull this off?
There were 3 key times with a grand total of 7 trading minutes that totally determined today's MOPE. They were:
8:23 - 8:24 AM - 1,582 June gold volume
8:56 - 8:58 AM - 6,027 June gold volume
9:18 - 9:21 AM - 3,689 June gold volume
The first blast was the pre-Comex open. It obviously begs the question why not just wait 5 minutes and get better fills after the open? The next two blasts were for the benefit of the NYSE open, along with the approaching PM fix. Those 7 total minutes alone accounted for a whopping $16.40 of today's losses, and clearly demoralized any spec long aspirations. The 11,298 contracts that traded in those 7 minutes dwarfed the volume of the other minutes around them. Most of the non-cartel blast volume was only 80 -140 contracts per minute, as opposed to the 1,614 average per minute in the 7 minute cartel blasts. At Comex member margin rates and assuming the 7 minutes of blasts were fresh shorts it only took 64 million dollars to totally influence world perception of gold, and vis a vis the dollar. Assuming too they cover at least a portion of the shorts later on it in reality is a far more miniscule amount to totally disrupt the gold market.
The physical market can't separate fast enough from this paper con job for me. As of right now every manipulation in the cartel's dirty tri