by David Kranzler
Investment Research Dynamics
The bullion banks/Central Banks seem to be having a problem pushing gold lower here. Nearly every evening (U.S. time zone) they take a sledge hammer to the price by dumping payloads of paper gold electronic contracts in the Globex trading system. But gold snaps-back typically after the London a.m. fix. They also try to hammer it about 25 minutes before the Comex floor trading opens, to no avail:
[…] This graph on the left shows the spike up in gold that occurred at 9:05 EST today (the x-axis is MST). The banks tried to hit gold about 15 mins after the stock market open but failed.