The Phaserl


Gold Manipulation? $1.3 BILLION PAPER GOLD DUMP [Not Counting Today] As ETF And Coin Demand Rise

from Gold Core:

… Massive concentrated selling on the futures market at times when there was no breaking news or market moving developments led to sharp price falls yesterday. Nearly $1.5 billion of gold futures contracts was dumped on the market in minutes at the open on the COMEX.

The selling was confined to the paper market as mints, refineries and dealers did not report any sudden bout of selling. Indeed, holdings in the largest gold exchange-traded product expanded to the highest level since April yesterday.

The assets rose 8.68 metric tons to 808.73 tons yesterday, the biggest tonnage gain since October 2012, data from the company’s website showed. Holdings in the SPDR Gold Trust have climbed this year.

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