from Dan Norcini:
AS those of you who regularly read this blog know, I have minced no words in mocking those whose constantly sing “Gold is being “FLASH CRASHED” by nefarious forces ( usually references to the bullion banks). I have no doubt that there have been large orders that have taken prices down, sometimes during the thin trading conditions in early morning European/N America hours – what I take strong objection to is that these orders were the work of the big bullion banks. My view is that those orders were from hedge funds.
I think I have provided enough documentation to make my point so I am not going to waste any more of the reader’s time in rehashing this once again other than to say that my view is that the bullion banks have been buying gold on the way down; not selling it.
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