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Gold Market Fluctuations Today – Bill Holter

by Bill Holter, JS Mineset:

I started my summer hours this week and rode early to beat the heat of the day. When I left at 7:00 am gold was up $1.20. When I returned I saw silver down .28 cents and gold off $4 so I figured some sort of shenanigans. The dollar was weak when I left and weaker upon return so it had nothing to do with the dollar. Then I read this…$3billion worth of gold sold …again for perspective, this is nearly 4% of global production or almost two weeks worth. And again, who would sell like this if they wanted the best price for their gold?

Fast forward 30 minutes and gold is now positive for the day. Over the last few weeks we have seen weakness early in gold and strength toward the close. This is a big change. A much BIGGER change will be if gold can hold positive for the day and maybe even close stronger. This would be if my memory serves correctly, the first time a massive amount of paper raided the market which then closed the day positive. Also keep in mind how many “new” contracts (fake supply) it has taken to keep gold’s rise in check.

As Jim and I have said, we are at major inflection points in many (all) markets, a strong gold close today followed by a breakout from here would be a very bad signal for paper markets. An out of control gold market will spell doom for paper markets and lead to the plug being pulled! Monitor this closely!

Standing watch,

Bill Holter

Holter-Sinclair collaboration

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4 comments to Gold Market Fluctuations Today – Bill Holter

  • mac

    ha ha ha…oh ya, gonna take on the Money Printers!

    Brokerage firms on knees to the money printers. Look, no currency comes to buy USD equities! Pay premium up to 80%? Nope.

  • Bob

    Three billion dollars of paper gold conjured from thin air and dumped on the market yesterday, but it didn’t work. Inflection point? Nope. Another three billion dollars of paper gold dumped on the market today, and this time gold didn’t bounce back. Wrong again, Bill and Jim. Guess what? They’ll never run out of dry powder, because they create it out of nothing with a keystroke. They’ll dump a hundred billion of paper gold onto the market if they feel they need to, and who’s going to stop them? It’s the GD government doing it!

    • Ed_B

      I don’t think that the US Gov is doing this but they are orchestrating it and not holding those responsible for it under charges of violating US securities laws… which they SHOULD but aren’t because they NEED to support the US$ and this is their preferred way of doing it.

  • Ed_B

    “And again, who would sell like this if they wanted the best price for their gold?And again, who would sell like this if they wanted the best price for their gold?”

    No one. There is exactly one and only one thing that such moves accomplish… price suppression. As Andy Hoffman has pointed out, such moves occur regularly like clockwork and are FAR too common to be any chance of random activity.

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