It is generally assumed that "the starting gates open" when the spot price moves above (and stays above) the 200 day moving average. Well that's getting close. (Click image for better detail.)

BTW Does anyone know if there is a place online where it is shown on a daily basis if gold is still in backwardation?

Thank you Mr. Putin! Gold in chf/Kg up over 2% today

I see that now the Swiss press (Finanz und Wirtschaft) is openly talking about the gold price being manipulated.


Der manipulierte Goldmarkt

PS: In the F&W poll 88% of readers agree.

It's funny that people only call the 'manipulation' card when it moves against them

it's not 'funny' at all — those who benefit from manipulation seldom do themselves any favors by drawing attention to it. They have no incentive to do so.

While I approve of the broadening consensus that manipulation has been taking place and is ethically questionable, it doesn't really 'move against' me — I like lower prices!

Manipulation is standard across all forms business, whether trading or gold buying. It's a game, choose to play, take the risks and good luck to all.

I am sure I will see gold fall to $400 in my lifetime, your going to be one very happy man

No chance.

Every chance you just need to be patient. It's not as it's intrinsic value is any higher.

Now 89%
Very interesting article - also revives the rumour about "is there really enough real gold in the US reserves?"
It is definitely a very strange business about the German gold repatriation and very strange that so many people keep so quiet about it; I assume most people involved have more to lose than to gain if the gold price exploded??
I mean 5 tons delivered from the US last year is laughable.

If there was any truth the insiders would have been buying like hell, which they may well have done a couple of years ago. That trade is now being undone slowly......at as much loss as they can afford to take.
With stories like that supporting the price I see $400 more likely & sooner. The question is if it goes to $400 how many years before it hits $500 10? 20? Or longer. When interest rates rise gold will look unattractive.

Insiders? The Chinese claim that China is the "Middle Kingdom" so at least in their mind's eye the are by definition 'the insiders'.
How many tons are they importing in 2014?
Correct me if I'm wrong but I seem to remember a figure of 30 tonnes per week being quoted somewhere. Also that gold only goes into China and, for the time being, never leaves.

I have to go back over the whole 40 pages of this thread, what is interesting over 4.5 years Gold in CHF terms costs the same as it did 4.5 years ago. In that time the SNB has printed a lot of money, the SMI is up over 30%.

If you really want to preserve your wealth over time the stock market will do just that & very likely better by a huge margin. The US stock market has out performed gold on any long term basis you choose to look at even if you ignore dividend payments received each year. Betting against the US economy has never been a winner at any time in history, why it it going to be different now?

What today is new and different to the last ten or more years is this...
Up till until very recently the mainstream media have consistently ONLY DENIED that the gold price is manipulated. The only other people who are gold manipulation deniers are central banks and govt. spokespersons.
Now about a week or so ago the Financial Times (I think it was) brought out an article online talking about gold manipulation as if it really did exist. A few hours later the paper took the article down. However, a Google crawler was able to put a copy of the article online - to the great embarrassment of the newspaper concerned.
Then, a few days later Bloomberg did a similar gold manipulation article. And now Switzerland does the same.
What does all this mean?
On the basis that a govt. rumour is only then proven true when they deny it we must ask ourselves what does it mean when official sources STOP denying something.
One conceivable possibility is that the central banks are finally running out of ammunition (physical gold) and soon will NOT be able to manipulate gold anymore.
Before this happens they want to allow their mainstream media to have reported manipulation which we all agree exists.
This could mean gold will soon reach a price that it would have attained if there had been no gold manipulation.
I wonder what that will be?

All governments own gold , so if the price is manipulated it's manipulated up......so expect huge falls when their support ends.

You just have to know how to hold your nerve.

I think Gordon Brown is the expert on that

It all depends how the money was invested afterwards, the Swiss were also selling gold at the same time iirc.

[QUOTE=Confloozed;2109815] Don't listen to the background noise, there is always a conspiracy theory about something. Funny thing is 90% of expert fund managers under perform the index they are paid to beat every one of their trades costs the fund money.......

What happens if Putin tells the West that in future they will have to pay for Russian oil and gas with gold?

Well, I suppose one of the first things will be that Angela Merkel will have an accident in her knickers.

(FMF's answer: The price of gold will go down LOL )