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James McShirley: The curious case of the PM fix vs. the AM fix
4:47p ET Friday, March 14, 2014
Dear Friend of GATA and Gold:
Market analyst and GATA consultant James McShirley today notes the long anomalous behavior of the London gold fixing, where for years the afternoon fix was almost always lower than the morning fix, changing only on the eve of investigations of gold market rigging. McShirley writes that his research was inspired by that of GATA consultant Dimitri Speck, author of the gold price suppression expose "The Gold Cartel" --
http://us.macmillan.com/thegoldcartel/DimitriSpeck
-- and the late GATA board member Adrian Douglas, whose study of the London fix four years ago concluded that the fix was the reincarnation of the official gold price suppression mechanism of the 1960s, the London Gold Pool:
McShirley writes: "The argument that gold isn't manipulated because if it were traders would step in and arbitrage the London fixes is easily refuted. In a nut, they do."
His analysis is headlined "The Curious Case of the PM Fix vs. the AM Fix" and it's posted at GoldSeek here:
http://news.goldseek.com/GoldSeek/1394826567.php
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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