◆ Gold price falls to a three-month low as concentrated selling of COMEX gold futures contracts equal to over 3 million ounces are sold in 30 minutes
◆ 33,596 contracts were aggressively sold in the 30 minutes between 10:00 and 10:30 a.m. New York time which is more than triple the 100-day average for that time of day
◆ This pushed the most active gold contract to as low as $1,448.90 an ounce, the lowest since August 5 as reported by Bloomberg (see chart below)
◆ It is all very predictable and has been going on for many years now. It is another exaggerated and manipulated “correction” either for profit purposes or official intervention to depress gold prices
◆ Gold closes just 0.4% lower on the day which was encouraging and support is at $1,450/oz level and then at the $1,400/oz level
◆ The price weakness provides another gift to gold and silver bullion coin and bar buyers focused on long term wealth preservation and growth
NEWS and COMMENTARY
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GOLD PRICES (LBMA – USD, GBP & EUR – AM/ PM Fix)
11-Nov-19 1465.50 1458.70, 1144.41 1132.39 & 1328.33 1321.87
08-Nov-19 1466.85 1464.15, 1144.58 1142.62 & 1328.09 1328.13
07-Nov-19 1484.10 1484.25, 1153.44 1156.82 & 1339.40 1341.76
06-Nov-19 1488.55 1486.05, 1155.26 1154.51 & 1342.23 1341.31
05-Nov-19 1504.60 1488.95, 1166.37 1156.17 & 1352.18 1344.67
04-Nov-19 1509.20 1509.45, 1168.57 1169.52 & 1352.39 1353.98
01-Nov-19 1509.85 1508.80, 1165.76 1164.49 & 1354.79 1351.28
31-Oct-19 1506.40 1510.95, 1163.09 1168.57 & 1348.53 1356.53
30-Oct-19 1490.15 1492.10, 1156.65 1159.81 & 1340.39 1342.74
29-Oct-19 1492.75 1486.75, 1164.79 1155.20 & 1347.80 1338.37
