by David Schectman, MilesFranklin.com:
What do the Chinese (and Indians and Russians) do? Do they sit on the sidelines while gold is artificially locked into a trading range around $1200?
If you believe that the information we are given on gold and the economy is manipulated, slanted, or deliberately not reported, how can you be certain of anything?
Why do most people only become interested in gold when the price is rising? The “need” for gold does not change whether the price is moving up or down. The issue is not how much it costs, it’s where is the dollar headed? The physical demand is not (yet) controlling the price. It’s all in the hands (for now) of the short-term, algo-dominated hedge funds and a bullion bank or two.
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