“…bonafide sellers of gold wish to maximize their dollar profits when they sell their gold. They do not ‘unload’ their gold on the market all at once…”
Dear Friend of GATA and Gold:
Hugo Salinas Price of the Mexican Civic Association for Silver shows today how “not for profit” selling of gold in the futures market happens constantly and is meant to suppress the monetary metal’s price and thereby defend government currencies.
Salinas Price writes: “Tell-tale signs of official intervention in the gold market are the swift collapses in the price of gold that take place frequently.
“Unofficial, bonafide sellers of gold wish to maximize their dollar profits when they sell their gold. They do not ‘unload’ their gold on the market all at once.
“The official sellers of gold do not care about maximizing their dollar profit. They are interested in only one thing: to bring down the price of gold as fast as possible, to scare away potential investors and flush out weak hands. Thus the tell-tale signs of intervention appear in the daily graphs of the price of gold as nearly vertical falls in the price.”
Salinas Price’s analysis is headlined “No Free Market in Gold: Constant State Intervention” and it’s posted as the association’s internet site, Plata.com.mx, here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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