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Ed Steer: Gold manipulation -- the 'London bias,' 1970-2024
10:10a ET Monday, November 4, 2024
Dear Friend of GATA and Gold:
GATA board member Ed Steer, publisher of Ed Steer's Gold and Silver Digest, today updates some gold market charting he first did nine years ago and confirms that gold price manipulation has been following the same pattern since then.
That is, the gold price is almost always held down in Western trading and almost always allowed to rise in Asian trading.
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Steer writes: "There is nothing free-market about anything you see on the above charts from January 2, 1975, onward, except maybe what happens between the 6 p.m. Globex open in New York and until gold's high ticks are set in Shanghai the following day. The rest is pure price management to the downside."
Your secretary/treasurer will add that such market manipulation can endure only because mainstream financial news organizations are too scared to examine it -- that is, because they understand that it is the operation of the government and its agents among the major investment banks.
Steer's report is headlined "Gold Manipulation: The 'London Bias': 1970-2024" and it's posted at GoldSeek here:
https://goldseek.com/article/gold-manipulation-london-bias-1970-2024
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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