Why Was Gold Slammed And The Dow/SPX Pushed Higher?

Something ugly could be hitting the financial/economic system soon. To blatantly hit gold like this when no one is around is a sign of desperation. The FANGS had an brutal reversal today despite the squeeze higher in the broad indices. TSLA soared early on Elon Musk’s shameless puffery – which often borders on outright fraud – and reversed to the downside, while the SPX and Dow were being pushed higher by the Plunge Protection Team.  Both indices closed well of their higher.  Auto sales for June were once again well below expectations.  GM’s inventory soared despite a stated goal to reduce it inventory from over 110 days to 70.  A lot of workers will lose their jobs.  Household debt – mortgage, auto, credit card – will go unpaid…

The Trump Presidency is floating on the fumes of questionable sanity as an impeachment Bill is being sponsored in the House by 25 Reps. The case to be made that Trump is not mentally competent enough to have his index finger on the red button that launches nukes at Russia grows stronger by the day.

Doc and Eric Dubin invited me on to their weekly Money and Markets weekly market recap/analysis to discuss – today notwithstanding – very interesting trading action in the gold/silver paper “markets” in the west and the physical, real markets in the eastern hemisphere:

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4 thoughts on “Why Was Gold Slammed And The Dow/SPX Pushed Higher?

  1. I still believe strongly that Masters of Universe pushing gold down to buy more shares in gold mining companies. They know that is something coming !!!!

  2. I’m sorry guys, but I can’t share your optimism. I don’t see any end to the manipulation in sight, which is why I stopped buying gold and silver 4 years ago.

  3. Figured you’d enjoy this: Zerohedge just posted an article describing a “glitch” in the Nasdaq that crushed Amazon and others…while catapulting a few other stocks around the same time frame. The result was a “repricing” of these stocks to exactly $123.47 before being temporarily shut down. If that doesn’t scream “this market is FAKE” I don’t know what does.

  4. The PTB knew they were going to take the Dollar down a few notches to save the Oil price from plunging into the $30’s …. so, just hours before taking the Dollar to save oil, they pre-emptively tanked Gold … the “fat finger” trade was done to kill sentiment/momentum in the Gold that would have normally resulted from a tanking USD.

    They kill sentiment to keep money from leaking out of the regular stock markets into the Gold sector.

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