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Ronan Manly: Gold price smash in paper but physical demand is on fire
11:03a ET Tuesday, August 10, 2021
Dear Friend of GATA and Gold:
Bullion Star's Ronan Manly today details Sunday night's attack on gold futues prices, an intervention to create panic in the gold market and mislead other markets around the world.
Manly writes that "the sellers of these gold futures contracts had only one motive, and that was to bomb the gold futures price and trigger stops and further selling by other contract holders, simultaneously torpedoing the international spot price and achieving the desired effect of negative gold headlines around the world, but above all else attempting to disarm the gold price as the barometer of inflation expectations, and strangle the gold price as the ‘canary in the coal mine.'"
Nevertheless, Manly adds, demand for physical gold remains "on fire."
His analysis is headlined "Gold Price Smash in Paper -- But Physical Demand on Fire " and it's posted at Bullion Star here:
https://www.bullionstar.com/blogs/ronan-manly/gold-price-smash-in-paper-but-physical-demand-on-fire/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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