What happened to the price on Friday?

Posted | 14/10/2013 / Views | 1811
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Unfortunately we saw yet another example of ‘unnatural’ market forces at work on Friday with an unnamed single participant (read JP Morgan et al) dumping 2m ounces of gold in one trade, actually causing a shut down of the CME system for 10 seconds and a drop of around $15 in the gold SPOT price.  Again, ask yourself who sells 2m oz in one hit if they don’t actually WANT the price to plummet??  Natural forces must prevail ultimately.  Just as JPM etc have been held to account on the LIBOR scandal, so one day they must over this blatant market manipulation.  For the time being it just seems an ideal buying situation for us ‘normal’ people.