40 tons of paper gold dumped on June 8th on a "market order"
If you were selling 40 tons of gold, would you just hit the sell button on a market order and unload it in four minutes? The answer is an obvious NO. Nobody in their right mind would. But a bank who isn't dealing with their "own money" and is operating on instructions would. We have seen this time, and time again. As soon as gold gets to a critical support level, somebody with a fat finger comes in and unloads a bunch of paper gold. Someday we will see a report that banks are getting fined for manipulating the gold price (just like we saw on the Libor scandals). That someday cannot come soon enough.
Hii @davidp i saw you post and i enjoyed reading it, could you please have a look on my daily analysis for Gold and give me your opinion. https://steemit.com/gold/@ohamdache/6mwd5y-midday-update-of-gold-28-06-2017
I like it, upvoted and followed.
Thank you for you help.
"Market Sell" is my favorite button! it makes things so exciting! lol
Of course nobody would do it heh. But it's the way as it is.. it just can't be helped.
Gold traders? what they know about life
hahaha very good!
what's the status now?
1250 range......So they did their job. Drove the price back.
thank you so much for the info hope its not a major loss for all traders
I doubt banks will ever get fined. they are doing this with the blessings above. I guess, China needs gold and west agrees so it is all planned. Only once China finishes buying gold price should start rising significantly is my guess.
Wow that is one huge dump.
Absolutely ridiculous the constant drop.
Damn... crashing the market
@davidp: That's huge indeed. Thanks for sharing :)
What???? Banks are manipulating the gold price
haha yea I get it........It's like somebody selling 1MM bitcoins this morning.....
Oh I got it now Thanks @davidp :)