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If 'hardly anyone' cares about gold, why are central banks all over its market?

IMG Auteur
Publié le 10 septembre 2016
448 mots - Temps de lecture : 1 - 1 minutes
( 2 votes, 5/5 ) , 1 commentaire
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In commentary posted today at 24hGold  and GoldSeek headlined "Explaining the Moves in the Gold Price" –

http://www.24hgold.com/english/contributor.as...179940076H11690

http://news.goldseek.com/SpeculativeInvest.../1473429960.php

-- financial letter writer and technical analyst Steve Saville again cites some charts to claim that gold is performing just as expected in relation to other markets without regard to any "whims/abilities of evil manipulators."

There are only two explanations for this correlation, Saville writes. "One is that the currency and bond markets, both of which are orders of magnitude bigger than the gold market, are being manipulated in a way that is designed to conceal the manipulation of a market that hardly anyone cares about. The other is that the gold price generally does what it should do given the performances of other financial markets. Only one of these explanations makes sense."


Actually, there's a third possible explanation for the seeming consistency of Saville's charts: that governments are meddling in all these markets because they are connected and because a disparity in one might expose and upset the manipulation of the others.

As for Saville's assertion that gold is "a market that hardly anyone cares about," it can be questioned in many ways. For example:

Why has the Bank for International Settlements just returned to the gold swap business?

target="_blank"

http://www.gata.org/node/16704

Why has the director of market operations of the Banque de France admitted that his bank is trading gold for its own account and the accounts of other central banks "nearly on a daily basis," that central banks lately are managing their gold reserves "more actively," and that they won't explain their activity in the gold market?

target="_blank"

http://www.gata.org/node/13373

target="_blank"

http://www.gata.org/node/14716

target="_blank"

http://www.gata.org/node/14954

Why is the International Monetary Fund refusing to disclose its gold records, citing their "sensitivity"?

target="_blank"

http://www.gata.org/node/16722

Why did former Secretary of State Hillary Clinton's close adviser Sidney Blumenthal tell her by e-mail her that NATO overthrew the regime of Muammar Gaddafi in Libya to prevent him from starting a North African currency backed by gold?

target="_blank"

http://www.gata.org/node/16074

Why at a public forum in Virginia in March did the president of the Federal Reserve Bank of New York, William Dudley, clumsily refuse to answer a question about the Fed's own gold swaps?

target="_blank"

http://www.gata.org/node/16341

This largely surreptitious involvement of governments with gold goes on and on, if largely unreported by the mainstream financial news media and supposed savants like Saville:

target="_blank"

http://www.gata.org/node/14839

Is such involvement really consistent with "a market that hardly anyone cares about"? Or is it consistent with a market that central banks care very much about and that Saville and other technical analysts know very little about and want to know very little about, lest it undermine their technical analysis business?

 

Données et statistiques pour les pays mentionnés : France | Tous
Cours de l'or et de l'argent pour les pays mentionnés : France | Tous
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