EVN chart, page-2408

and my final post on these issues

im a research fellow by trade so I like to get peoples opinions on here but also read widely

you say that the Fed manipulated the gold price and is now capping it

However, research into manipulation of the gold market indicates that when it does occur it largely occurs in the gold futures and in the London Bullion market.

Importantly manipulation is no where near as pervasive as some imagine, for example the IMF determined that 40-50% of the variability in gold price comes purely from the value of the US dollar (not that there’s not some manipulation there as well but that’s another story). So another explanation of the “capping”:

inflation/negative real interest rates is driving people into gold But the US$ is having a rally so this makes it more expensive for other countries to purchase gold as a commodity. Of course these things (inflation, interest rates, exchange rates) are very inter-related but the point is it’s a story that’s a lot more complex than the “Fed is manipulating price up and is capping now”.