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Robert Fitzwilson: Central bank intervention may explain gold's drop
6:30p ET Sunday, November 2, 2014
Dear Friend of GATA and Gold:
Official economic data is mainly "fairy tales," fund manager Robert Fitzwilson tells King World News today, adding, in regard to recent market action:
"None of what happened in the metals and energy markets makes any sense. You should not have plunging prices when demand is surging and supply is tenuous or evaporating. It is probably a combination of official policy as well as the momentum-driven investment world in which we find ourselves. Central banks can trigger these smashes and backstop their proxies against loss. But a potent part of the cascading declines in these markets has to do with the impact of the algorithms, the machines, and the mechanics of stop-loss orders."
Fitzwilson's commentary is posted at the KWN blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/11/3_Fi...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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