GATA has released a MUST READ 57 page expose on gold manipulation, price suppression, and algo trading by Paul Mylchreest in a report titled "Caught Red-Handed". If you don't have time for the entire analysis today, please bookmark the page, and take some time this weekend to digest it in it's entirety. -Doc
Full Report Documenting Gold & Silver Manipulation in Detail Below:
TRReport26
by Chris Powell, GATA.org:
Dear Friend of GATA and Gold:
Financial writer Paul Mylchreest’s latest Thunder Road Report, titled “Caught Red-Handed,” documents the last seven months of the gold price suppression scheme as a function of computer trading algorithms operating worldwide but most heavily in the London and New York markets. Mylchreest writes: “The gold price on Reuters/Bloomberg screens is not really the gold price since the ‘gold market’ is not a market for physical gold per se. Instead, the price on your screen is a hybrid price of some physical gold that is heavily diluted in the price-discovery process (deliberately) by a far larger amount of ‘paper’ gold in several forms, notably unallocated LBMA accounts, Comex futures and options, many exchange-traded funds (I would exclude Sprott and the Central Fund of Canada, both of which trade at premiums to net asset value), and billions of dollars of OTC gold derivatives.”
Mylchreest’s report draws heavily on and credits GATA’s work and is posted in PDF format at our Internet site here:
http://www.gata.org/files/ThunderRoadReport-03-28-2012.pdf
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