Gold continues to not be able to trade freely
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Jaffa jihadistani arabs celebrating Gaza missile attacks on Israel:
https://www.youtube.com/watch?v=IV38RvqOvFw&feature=youtu.be
I blame the US for this. These jihadi enemy alien nationals should have been removed from the country long ago. I hope one day Israel gets the strength to tell the US/CIA mafia to go to hell.
Not that it makes any difference but this whole scenario begins with the British/French division of Arab lands with their victory of ww 1 and defeat of the Ottoman empire.
Lawrence of Arabia(yup, the movie guy) really tried to prevent the situation we are in today.
The British did the same thing in other parts of Africa and India, they do it to rape the resources from the people.
After ww 1 the Zionist influence increases, long story short, we have Isreal.
The Arab people have been repeatedly betrayed murdered etc for about 100 years by us “good guys”, this is the reason organisations like isis find support.
When Bush tells us “they hate us for our freedom” he is lieing.
I agree with Ron Paul, Liberty. But I bet you guys knew that already.
BB,
On ISIS, I believe its support is far from broad-based among Middle-Eastern Arabs.
The support it managed to gather so far relies on
1) Sunnis who want to get rid of Shia rulers (hence the group fighting in Iraq, Syria whose countries gvt are currently led by Shias/Alaouites)… and
2) former Saddam soldiers who basically find a way to get some sort of revenge and get more importance within their own country (in Iraq’s case).
What should be noted though, is that even within Sunnis, ISIS is not as popular as some might think. The self-proclaimed Califate is even considered as “illegal” by some scholars… So these are elements to keep in mind.
In a very disorganised country, a few well organized and motivated men can make impressive forays. It is the same as when markets liquidity is thin: a decent size order can move the price significantly, while in normal market condition (when liquidity is more abundant), that same order wouldn’t have such an incidence.
Best,
LPG
lpg, as far as I know your right about isis, but they have a lot of support, especially financial.
I was actually meaning the various groups, “organasations, like isis” maybe I should have said “for example isis”
Anyway, these groups sunni and or shia that oppose the west really have no difficulty finding support due to the west killing their children stealing their resources etc for 100 years now.
Also, we have supported Isreal who also target arab children etc, the americans give isreal millions for example.
I just think it rather obvious whose side we are on. If you look at what we do and have done its easy to see why the Iranians call us the great satan, a lot of Moslems agree with that sunni and shia.
Mohamed took the tribes to the “God of Abraham”, they believe in a devil, “satan”
so, as they see opposing us as opposing “satan”, not so hard for support.
Your right about just how confused things have gotten, all I can say is for myself I agree with Ron Paul.
bb, I believe your analysis is a little naive. You don’t seem to understand the difference between Sunni and Shiite. You might do better if you realize that the Whitehouse is occupied by a Sunni Muslim, because that totally explains who has received support and who has been attacked in the Middle East.
The problem I am still trying to understand is that with the US southern border open, just how is there going to be a large influx of Sunni Muslims. I don’t have the foggiest idea how that might be done at the moment.
‘ but it is something that might be anticipated.
CFS,
Not sure I understand what you refer to when you say “who has received support and who has been attacked in the Middle East.”
Can you elaborate maybe please ?
Thanks & Best,
LPG
cfs, I do think you may have a point concerning Docs possible drop in gold price.
As far as isis getting financial support due to Obamas religion, altho alliances can seem suspicious, I can only say I hope your wrong about that point.
Entirely possible tho.
BB,
Ron Paul is a very wise man indeed.
I’m glad many of us are keen to recognize/admit the responsibilities of our respective gvts in the mess created in many areas of the world, esp. (but not only) in the Middle-East.
Best,
LPG
ISIS/ISIL is a Sunni group that grew out of anti Assad Syrian rebels. As such they received financial aid and armaments from Obama.
Specifically, the Benghazi cover-up is because the US was sending aid to the Syrian rebels through Libya. That was also why Obama refused to help out the Iraqi army by bombing ISIS troops when they were easy targets for drone strikes.
That is why Obama has never spoken out about the atrocities perpetrated by ISIS.
The big Zero, I believe, places Sunnis over Shia and Islam over Christians.
I have to be careful, because such statements are close to sedition, but I trust you get what is being said.
The leader of ISIS was released from Guantanamo by Obama.
Its possible cfs, Qatar and Saudi Arabia were also supporting the overthrow of assad.
I have been convinced the overthrow of assad was for the movment of oil to Europe to reduce the Russian influence.
Possible that the religion is being used as a tool to get them to fight?
The people fighting maybe could care less about the oil compared to the creation of their own country more concerned with oil once they are selling it themslves.
Their leader released from guantonamo? I think I recall reading something about that now that you mention it.
hhmmmm, you just might have a point here cfs, there could be something going on they not telling anyone.
First time for everything I suppose.
ISIS is quite concerned about oil/gas. They have been careful not to destroy pipelines running through areas they control, even if to do so would hurt their enemies financially. Admittedly they have not yet taken the important oil locations, but that will be attempted when they have more strength. Right now they are well funded by virtue of taking out major Iraqi banks….$500 million reported taken.
Cfs, yes isis is concened about oil and gas, whenever a nation concers another wealth is always a concern.
My meaning was the Priority is the creation of their new nation, their caliphate(sp)
I am expecting boarders drawn along the line of the Mesopotamian boarders.
We have been hearing for some time now about morocco to Iraq including isreal.
We shall see I guess.
I think you, Big Al, and Doc are both wrong on different aspects.
I believe you are wrong, Big Al, in that I do not believe the hourly or daily price of gold is set by news flow. Doc is wrong, I believe, in expecting gold to drop to $1280 before heading upwards. I have a long explanation in terms of supply-demand economics, if you want it.
Yes it’s unlikely gold is going back to $1280 at this point. It looks like we are getting the stretched cycle scenario I covered in the report. The next resistance level that should turn gold back down into a daily cycle low would be at roughly 1360ish. But the correction from that point would probably not drop much below 1320ish.
Gary, did you exit today out of your full positions? Or will you keep riding it to about 1360 then exit?
What are you seeing gary? In your books do we go higher towards friday? Next week tuesday and then correct? I personally believe 1360 so however many days that takes. I’m thinking tomorrow I will exit trading positions.
Still holding. i may take some profits at 1360 but it’s not critical. One could ride out the first daily cycle low if they don’t want to trade. This intermediate cycle isn’t likely to top until Sept.
Thanks for the response Gary! I left a piece on Doc’s blog regarding your change of tune yesterday. I thought it would be nice if you could share what made you go suddenly back into full positions just hours after your morning piece with al and cory where your tone felt like better to be out then in. Something caused you to go back in very quick.
Why is gold rangebound? digesting the recent rally… consolidating. bullish support on any pullbacks has been surprisingly strong and commercials are defending the 1330 area with all their might.
Gary, I really don’t understand the need to cry manipulation every time the price pulls back, I’d rather just accept the nature of these computer driven markets than look for nefarious forces to blame when price does something other than what i expect.
I often enjoy/agree your analysis of this tough to trade market Gary but it seems like you think that you alone know when buyers will outnumber sellers… to say that the market should’ve done something, but for the manipulators is utterly facile and i think it a disservice to your TA.
I too was expecting a larger pullback, someone has been manipulating it higher when it should’ve gone lower! no one complains when the gold price has a melt up from hedge fund computers… I’d say its the nature of the beast, the markets are devious and leave it at that.
All the best
Max
Well Gary and others, I got the impulsive move up overnight that I was looking for.
Sold my trading positions as of 30 minutes ago. Did not like what I was seeing in the miners. I expect a pull back soon. On the sideline with good profits from the june 3rd low. Hope you all do well.
Long positions remain intact and did not sell.
Is it possible we might see manipulation to the upside?