Stop thief!
They want your gold and silver, and they use every psychological trick to get you to hand them over!
The sell-off in gold and silver continued this week, doubtless with the establishment’s paper shorts eying up the 4,121 tons held in gold ETFs: shake the trees and some is bound to come out.
The point is that bullion banks and market makers understand how to manipulate investor psychology — after all, that’s their business. It’s what makes people buy high and sell low.
Their success is illustrated in the World Gold Council’s chart above. Record investor demand for ETFs was in January, when gold peaked, followed by a massive North American liquidation (the black bars) when the price fell by $1,400 from the all-time high on 29th January to $4,100 on 23rd March. Liquidation of North American ETFs in March took out all the bulls of the two previous months combined.
This leaves the prices of gold and silver down on the year so far.
This week, at $4166 gold is down $50 from last Friday’s close in generally light trade on Comex, while silver at $65.10 was down $2.80 on the week in reasonable turnover. Stand-for-deliveries continue at pace this month with buyers for the expired June gold contract evident, presumably with a view to taking delivery. So far this year, 437 tonnes of gold have been stood for delivery, and 5,899 tonnes of silver.
