Dave Kranzler: Gold manipulation and conflict gold


By Dave Kranzler
Investment Research Dynamics, Denver, Colorado
Thursday, October 1, 2015

The king of high-frequency trading, Nanex's Eric Hunsader, has been on a crusade lately to expose the problematic and illegal manipulative side of high-frequency/algo-driven trading. Nowhere is the manipulation of any market more blatant and in-your-face illegal than in the paper gold market.

Yesterday morning Hunsader tweeted out this, after the gold was taken down hard in the paper gold market: "I am amazed at how blatant a price manipulation algo is in gold futures this morning. Really affecting prices."

Gold was smashed at exactly 8:20 a.m. ET when the gold pit at the Comex opened. The initial hit involved the dumping of 2,748 contracts, 274,800 ounces of paper gold, in the first minute of floor trading. The Comex is reporting only 162,221 ounces of "registered," deliverable gold. Hmmm. ... From 8-9 a.m. 29,136 contracts traded, representing 2.9 million ounces of gold traded, most of it in the first 40 minutes after the floor trade.

Without a doubt, the blatant nature of the manipulation reflects the desperation felt by the Fed and the bullion banks to keep a lid on gold given that the Fed is unable to raise interest rates without crashing the system. ...

... For the remainder of the commentary:



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