Amazingly enough…or maybe it’s not so amazing, every time gold corrects we see the conspiracy theories flying thick and heavy. I’ve asked this question I don’t know how many times and I have yet to receive a logical answer. Now that I think about it I don’t believe I’ve ever received any answer.
If gold is being manipulated by the powers that be how in the world did it manage to rise from $250 to over $1200? I have to say if someone is manipulating the price of gold they are doing a damn poor job of it.
I have to ask when gold was rallying hard last November where was the manipulation then? I didn’t hear a peep from the conspiracy crowd all month.
When gold was rocketing higher in late 07 and early 08 where were the conspiracy buffs? Was there a conspiracy to raise the price of gold at that time?
How about the monster rally in 05 and 06? How could this possibly happen if gold is being suppressed?
Folks here’s the truth, virtually anything can be tampered with in the short term. It happens all the time. But no one and I mean no one can halt a secular bull or bear market. Case in point, Greenspan and Bernanke have printed literally trillions upon trillions of dollars in the vain attempt to halt the secular bear market and it has backfired every time. Just like it’s going to backfire this time too.
Let me show you three charts.