You are here
Sharps Pixley's Norman blames gold smashing on single seller 'out for effect'
8:25p Thursday, March 1, 2012
Dear Friend of GATA and Gold:
In his gold market commentary today Ross Norman, proprietor of the London bullion broker Sharps Pixley Ltd. and founder of TheBullionDesk.com, joins those who attribute gold's smashdown yesterday to a single source who was "out for effect." Norman writes:
"A reported 31-tonne sell order on the Chicago Mercantile Exchange rocked gold, which saw prices collapse from a high of $1,790 in London hours to $1,703 during New York trading, followed by a further dip to the low of $1,687 in out-of-hours electronic trading. ... Ordinarily if a seller wanted to get the best price for his metal he would seek to finesse the selling over time, hunting out liquidity (finding people who are the other side of his sell order) and thereby ensure he gets the best possible profit. This seller was clearly simply out for effect."
Norman's commentary is headlined "Gold Fall Creates a Fantastic Window of Opportunity for Potential Buyers" and it's posted at the Sharps Pixley Internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Free Month Subscription to Market Force Analysis for GATA Supporters
Market Force Analysis is a unique, patent-pending approach to commodity market analysis. An algorithm has been developed to extract supply and demand weightings from futures market data. The difference between supply and demand is the market imbalance that is called "market force," so named because it is what drives price. It brings clarity to past market action and predicts market trends. Because it is derived from accurate futures market data it is not subject to the errors inherent in macro-level estimates of supply and demand.
Learn more here:
Market Force Analysis focuses on short-term (15 days) and medium-term price predictions to help both short-term traders and long-term investors understand market moves and benefit from the generated prediction of prices. To read subscriber comments that show how much the service is appreciated, visit:
The MFA service has been pioneered by market analyst and Gold Anti-Trust Action board member and researcher Adrian Douglas.
The Market Force Analysis premium service provides:
-- A bi-weekly report.
-- Access to the MFA hot list of junior mining stocks derived from analysis of more than 800 mining stocks. The MFA hot list consistently outperforms well-known mining share indices like the HUI, GDX, and GDXJ.
-- E-mail alerts about actionable trades.
-- E-mail updates with important information.
To obtain your 1-month free trial subscription to the Market Force Analysis letter, e-mail firstname.lastname@example.org and put "MFA Free Trial" in the subject field.
Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
A Rare Opportunity with Collectible Gold Coins
Whose Premiums Are Far Below Normal
Sovereign debt problems in the United States as well as Europe will worsen this year. The mainstream financial media may never report about the likely inflationary consequences of bailouts and "quantitative easing," nor are they likely ever to recommend tangible assets for financial protection. But at Swiss America Trading Corp. we believe that it is no longer a luxury to own gold and silver coins but rather a necessity.
At the moment the public is showing little interest in Double Eagle U.S. $20 gold coins, so the price premiums above the intrinsic melt values (.9675 ounce of gold in each coin) are historically low. The ratio of price to bullion content for these coins has been 2:1 but today it is only about 1.25:1.
This is a real opportunity. So give us a call or e-mail and we will be glad to discuss the potential of these coins and how to use a ratio strategy to increase your gold ounces without money out of pocket.
In the January edition of his Early Warning Report, Richard Maybury writes: "As they are inherently in very limited supply, I believe that high-quality numismatics will become tulips, eventually rising a thousand percent or more in real terms, when money velocity goes into mid-second stage. In late stage, who knows -- 2,000 percent? 3,000?"
All inquiries will receive without charge (while supplies last) our latest book, "The Inflation Deception," as well as our newsletter "Real Money Perspectives."
-- Tim Murphy, email@example.com
-- Fred Goldstein, firstname.lastname@example.org