That's what is happening, 18% of volume was short yesterday and the bots push it down with high frequency trading, then of course they buy back in. This practice seems to be pervasive, DCN has been particularly badly hit. I don't know if this is an orchestrated campaign by a some entity or various entities jumping on the bandwagon with a tactic that is obviously working. I wouldn't be surprised if it is the former as the Swiss national bank is known to have sold all its gold reserves and has accumulated an enormous share portfolio. To my way of thinking the only way the central banks can mantain some control over the various gold markets while still selling bullion, is by buying vast numbers of shares in the companies that own the gold in the ground. If I'm write this is the last tactic of the central banks. You can't call it a strategy as they always react to events in the gold market, they aren't the drivers of the gold price they are merely reacting to the insatiable demand for gold.
SAR Price at posting:
$2.37 Sentiment: Buy Disclosure: Held
