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Jonathan Kosares: Hedging HAL
1:46p ET Tuesday, November 3, 2015
Dear Friend of GATA and Gold:
Jonathan Kosares of USAGold in Centennial, Colorado, shows today how programmed, algorithmic trading is controlling gold futures prices at 8:45 a.m. ET every day, making all other trading worldwide irrelevant.
Kosares writes: "I'm becoming increasingly convinced that algorithmic trading is the single most influential force pushing markets in a 'supportive direction' of a 'credible' Fed. Would any reasonable person really be leveraging positions in long dollar, short yen, short gold, and short euro just because the Fed said they are 'once again' going to look at raising rates a paltry 0.25 percent in December? It doesn't amount to anything. Yet the price action over the past week would suggest the Fed is on the cusp of a 'lunar landing' of monetary policy."
The only way to escape this market rigging, Kosares writes, is to buy real metal, not paper. His commentary is headlined "Hedging HAL" and is posted at USAGold's Internet site here:
http://www.usagold.com/cpmforum/2015/11/03/hedging-hal/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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