Even Dennis Gartman openly suspects that the gold market is rigged

Section:

From The Gartman Letter
Suffolk, Virginia
Friday, October 30, 2015
https://www.thegartmanletter.com

As for the precious metals, the selling late Wednesday and all day yesterday was indeed severe, and even our positions in gold/euro and gold/yen have seen severe damage wrought upon them.

We find it hard to believe that the mere suggestion by the Federal Open Market Committee in its post-meeting communique on Friday that "liftoff" on the overnight Fed funds rate may take place at its December meeting can be responsible for this sort of egregious, serious, and now relentless selling, and we are almost of the mindset associated with the likes of the gold bugs and GATA that some malevolent "force" was behind the selling.

However, we are not going to travel down that road at the moment and sit tight with our positions, believing that the continued "experiments" with QE undertaken by the Bank of Japan and the European Central Bank shall work to the detriment of their currencies and to the support of gold. Nonetheless, the last 36 hours have been terribly dismaying. ...



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