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17:22
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Originally posted by 1ForDaMoney
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The mini crash was caused by $8200 million dollars of trade in just over 15 minutes. Simple really. Someone or some entities decides to dump let's say $X of gold. Price starts dropping. Stops start releasing volume that gets bought up at lower prices. Happens all the time to stocks that have margin lending. The more leveraged an investment type the easier it is to drive into stops and release volume. The flip side is keep buying available volume to upside driving up the price up and giving you an above market average. They want the gold market to be domain of banks only. The gold stocks I hold are profitable below $1000 U.S. So if they want to drive the price sub 1000 for 6 months or a year that's fine by me. High cost producers will be driven out of the game and supply will drop similar to what's happening in iron ore. Fundamentals correct over time and the high quality stocks will surge again. Not sure if this is how it will play out but eventually if prices fall, supply has too as well. Patience is the key. I am sure the banksters want to crash the price to flood the market with cheap gold so they can go on a buying spree and reposition for next up leg. That crash was caused by a volume of around 10-15 % of total world production for a year. 2 days in a row , so really over a quarter of the worlds total production for a year traded in 1 hour.
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Yeah the games they play.
