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José Luis Cava, impartial analyst The guidelines state that the penalty inflicted by gold these days in September is due to elemental elements. “I think the people behind these operations are the bullion banks. The value of gold and silver is manipulated by these bullion banks ”.
The gold chart reveals that the $ 1830 area is vital resistance and “whenever gold hits that point, investment banks promote it.” But what are bullion banks really? In the gold market, there are two main facilities: London and New York. “Although the largest is in London, it is between 6 and 8 times the New York market, the information is not very clear. Subsequently, although the New York market is smaller, the information is more reliable and we will then try to deduce what is happening there for the whole market as a whole ”.
The Bullion Banks now have a problem with the entry into pressure of the Basel III regulation, which forces them to adapt to liquidity ratios that could make it impossible to manage their current currency ranges. “Then more than likely they could close those tables. The regulation entered into force in Europe this summer, but in the United Kingdom, where these bullion banks reside, the authorities have asked to postpone it until January 1, 2022 to offer these banks the alternative of getting out of the crisis. ‘they have. ve with minor potential financial harm ”.
Bullion banks are currently fast in the gold and silver market and need to write them off. Every time gold and silver go up, they buy. “And so they have to lower their positions fast. Nevertheless, they are determined because they cannot reduce the fast positions ”.
In accordance with the knowledge of COMEX, on September 7, the swaps numbered 183,000 contracts for short positions in gold. In the long positions were the fund managers (with fewer long positions than the rest of the traders) and different traders. “Everyone buys gold. On that day, fund managers canceled longs for 7,000 contracts, offered and additionally opened quick positions: they offered 14,000 contracts. And who bought? Of these 14,000 contracts, 4,000 were bought by investment banks and the rest were bought by different traders.
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“Investment banks wanted those who had gold ETFs to promote, but the game didn’t go well for them. They caused the gold to drop sharply, but people didn’t come down and buy. Fund managers are determined because they are unable to reduce their positions in gold fast on the web, and until January they may attempt to slow down every rise in gold in an attempt to provoke a sellout. and thus undo their quick positions ”.
At a technical stage, going above 1830 {dollars} will be a warning that gold could start a bullish trend and for the more dangerous “every time there is a robust boost you can make small purchases that , when January 1st comes, let’s see the actual pattern in gold. “
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