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Brien Lundin: How manipulated is the gold market?
By Brien Lundin
Gold Newsletter, Metairie, Louisiana
Monday, January 25, 2021
Last week I wrote about an amazing development in the gold market: The price was smashed down at the beginning of New York trading, as usual, but it then rallied strongly as investors around the world rushed in to buy.
We were well on our way to a duplicate performance this morning, until the rally was smacked right back down.
Right now it's a hard-fought battle between the bulls and bears, with the gold price right about even for the day.
... Dispatch continues below ...
Asante Gold Announces Kubi 3D Model
Extends Gold Mineralizing System
Company Announcement via Globe Newswire
Thursday, July 2, 2020
VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE:ASE / Frankfurt:1A9 / U.S.OTC: ASGOF) has received the results of 3D magnetic modeling completed over its Kubi mining lease in the Ashanti Gold Belt in Ghana.
The results show that the Kubi Main Zone gold resource is intimately associated with and interfingers the western sheared contact of a magnetic high feature that plunges to more than 2 kilometers in depth. Here is the 3D model video:
In Ghana, Africa's largest gold producer, many big mines are located along northeast-trending regional shear systems that exceed 250 kilometers in length. Studies indicate that the hydrothermal gold mineralizing system that generated the Ashanti Gold Belt deposits was "gigantic and extended to at least 10 to 15 kilometers in depth" (Schmidt Mumm et al., 1996). The Ashanti shear zone hosts the largest single gold resource in Ghana, the 66-million-ounce Obuasi mine. This major shear zone cuts Kubi 15 kilometers southwest of Obuasi. ...
... For the remainder of the announcement:
But what I’m writing about today has to do with a comment I received after sending last week's issue. To set the stage, here's what I wrote last week about the uncanny pattern of early-morning gold selloffs:
"You know that I'm not a big conspiracy bug and I don't believe there's an official, organized cabal acting against gold on a daily basis. (My beliefs tend more toward unorganized cabals of convenience acting intermittently -- but that's a story for another day.)
"All this said, for gold to get repeatedly taken to the woodshed at virtually the same trading moment. ... As Joe Biden would say, 'C’mon, man!' At this point it's undeniable that 'they' are trying to keep gold down.”
My admission of a belief in some form of manipulation in gold wasn't enough for my good friends at GATA (the Gold Anti-Trust Action Committee), in particular Secretary-Treasurer Chris Powell, who has done more than anyone else in advocating for a free gold market since the group's founding in 1998. ...
... For the remainder of the analysis:
Toast to a free gold market
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