by Chris Powell
GATA.org
Dear Friend of GATA and Gold:
In commentary posted today at GoldSeek headlined “Explaining the Moves in the Gold Price” —
http://news.goldseek.com/SpeculativeInvestor/1473429960.php
— financial letter writer and technical analyst Steve Saville again cites some charts to claim that gold is performing just as expected in relation to other markets without regard to any “whims/abilities of evil manipulators.”
There are only two explanations for this correlation, Saville writes. “One is that the currency and bond markets, both of which are orders of magnitude bigger than the gold market, are being manipulated in a way that is designed to conceal the manipulation of a market that hardly anyone cares about. The other is that the gold price generally does what it should do given the performances of other financial markets. Only one of these explanations makes sense.”