Over and over again, and with increasing frequency, we’ve seen “”markets”” behave in ways that defy common sense but align perfectly with the goals of the central planners.
Stocks up. Bonds stable. Commodities down. And especially: Gold down — practically every month since the commencement of QE3, the largest money printing operation in world history.
Why does the Federal Reserve want commodity prices down? Because there was a lot of heat on them politically for the commodity spiking effects of QE 1 and QE 2. Food riots broken out around the world and political regimes upended as a result (Egypt, Tunisia, Libya just to name a few). Third world countries and developing nations were crying foul, as well they should have. The US gets in a bit of financial hot water, prints like mad, saves itself, but crushes the poor. It’s just bad optics.
Well, ever since QE3 was announced, it's been nothing but good optics since. I believe it represents coordinated actions by the big banks who have since come to dominate the electronic “"markets"" for all commodities in service to the policy aims of the central banks.
Moreover, ever since the Greek debacle hit high gear, gold’s price has been under additional continued assault. As if the prospect of a European domino effect coupled to the reality that European bank deposits are now subject to confiscation via bail-in procedures suddenly caused millions of European’s to sell their gold — so they can place those same funds into those same banks — makes any sort of sense at all.
On this past Sunday night (7/19/15) when all finely engineered price smackdowns (never price spikes, mind you) happen, at just around 9:30 EST, gold suddenly got body-slammed:
Now, sometimes investors sell and that’s just life. But the very definition of price manipulation is placing orders in such a way as to move a market to your benefit.
by davefairtex 
