On 275 of the last 310 trading days gold has been slammed at exactly 2.15am American Eastern standard time. Lately it has been every day.
I sit here in Australia and watch gold rise most days in Asian trade, only to be slam-dunked overnight in American trade. When gold is slammed lower 90% of all trading days we are in a wickedly rigged market And the big boys are deathly afraid of gold rising to its intrinsic value, which I read today is somewhere around $1600 dollars (Gary Christenson).
I read recently that one of the most profitable day trades on the planet is to buy gold futures in Asia and sell them just before 2.15 am US time. In fact if you had done the opposite and bought gold just after 2.15am every day and hoped to make money you would be sitting on massive losses. Those losses, if subtracted from the current gold price would leave you with about $250 an ounce.
One day this joke will come to an end and when it does all hell will break loose.