$3 BILLION Fraud?
A Second MAJOR System Breakdown RED FLAG Just Occurred in the Gold Market:
After trading as high as $18.60 and $1298 early in the week, gold and silver pulled back Wednesday.
Gold is down $15 to $1278, and silver is down 50 cents since Monday to a low of $18.10.
Weakness in the metals is being driven by a rally in the dollar off of recent lows. Unsurprisingly, today’s dollar rally found resistance at 99.9.
Keep an eye on the USDX in the days ahead for clues to the direction gold and silver is headed over the short term as the 100 level has now become resistance.
Perhaps more notably, gold witnessed another highly suspicious event during yesterday’s London fix.
$3 billion notional was dumped onto the paper gold market moments before Tuesday’s London fix, resulting in an $8 haircut on the price of gold…which promptly gapped up $15 above the rigged fix price once the London fix was completed:
As we referenced in last week’s Metals and Markets, this is a huge red flag that could potentially be signalling a Mega Move in gold.