On Wednesday, a post sourced from the LeMetropoleCafe detailed 3 Comex short sales conducted during 3 minutes on Tuesday. During these times, 20 tonnes of gold were dumped in order to smash the gold price.
Last night, the same source issued the following about Thursday's attack:
"The cartel knows that September is historically the best month for gold. They are beginning the month by attempting to quell ANY spec long excitement. As has been the pattern lately their focus is on 3 - 4 key moments in the day, and then unleashing flash sell bombs. Today's strategic bombings were nearly identical to yesterdays in timing.
1:33 AM: 1,125 contracts sold
8:31 AM: 1,307 contracts sold
9:02 AM: 860 contracts sold
10:01 AM: 2,631 contracts sold
10:09 AM: 1,988 contracts sold
10:33 AM: 1,783 contracts sold
These 6 minutes, with volume of 9,694 contracts accounted for $21.10 of gold's losses. Three of those sell bombs were to the exact minute from the previous day."
These contracts represent 30 tonnes of gold, bringing the two day total to 50 tonnes.
It has been widely speculated that India has been pressured into leasing out the 200 tonnes of gold which they purchased from the IMF a couple of years ago and that this is the gold being thrown around on the Comex.
Tick, tick, tick.
About 15,000 oz were delivered out of the Comex warehouse on Friday, leaving gold available for delivery at the lowest level since 2003, which was in the earliest stage of the current gold bull market.
What happened with Syria's gold? I think that is what helped to knock gold down, back last summer? Here is some of the article.......
LONDON(BullionStreet): Just like Muammar Gaddafi during his last day's, Syria's Bashar Assad is trying to sell country's gold reserves at far below market rate to escape from the tightening scanctions, reports said.
Syria is believed to have around 30 tons of gold reserves while sanctions have halved it's foreign exchange reserves from about $17billion.
Assad is trying to sell gold far below market prices to attract potential buyers after sanctions targeting Syria's central bank and oil exports begin to bite, diplomats and traders said.
Reports said the desperate Assad regime is making offers at about 15% below the market price.
Syria was banned by the West including the European Union from any official gold and other precious metal deals.
Unconfirmed reports said Damascus was selling small volumes of around 20-30kg which were easier to offload, with offers being made through private accounts set up with free e-mail providers.
Reports said Syria was looking to offload everything it could to raise cash, including currency reserves.
Diplomatic sources estimated the sanctions had cut Syria's oil output by 30%, costing Assad's government $400m a month in revenue, or $2bn since November. Prior to EU sanctions, Damascus sold 90% of its oil to Europe.
Any one can find it, by googling ...
"Desperate Assad to sell Syria's Gold 15% below market rate"