If you’ve been paying attention to the precious metals markets then the idea of price manipulation should come as no surprise. However, after getting the most recent exposé from independent London metals trader and analyst Andrew Maguire, I regret to inform my faithful readers that they’ve reached a new level of malfeasance.
To call this a conspiracy would be the understatement of the year.
The story starts back in 2009, the pre-Libor days and a time when few if any of the so-called “experts” believed in precious metals market manipulation. Of course, we now know that it wouldn’t be long before market manipulation would become common knowledge – at least for those of us who don’t rely on the mainstream media for our “information.”
Along came Maguire, who literally cracked the code of gold and silver manipulation. He provided over 80 examples in which he predicted exactly where the prices of gold and silver would be in 24 hours; Maguire recorded these predictions and provided his information to the CFTC (Commodity Futures Trading Commission). With 100% consistency, the price levels would finish at Maguire’s predicted levels the very next day.
Did this get the attention of the regulators? You bet it did, but the CFTC refused to take any meaningful action. Even when Bill Murphy of GATA, the Gold Anti-Trust Action Committee, presented Maguire’s irrefutable evidence to the CFTC in 2010, regulators did little to curb the ongoing corruption and price manipulation. Maguire soon also brought his evidence to the U.S. Department of Justice in 2011 with his attorneys, to no avail.
And it’s not as if the trail of evidence is lacking: Maguire’s got time-stamped e-mails with the CFTC, containing uncannily accurate next-day price predictions, all of which have been published.
Maguire’s efforts to prompt the CFTC to meaningful action continue to this day, and there was a minor victory early this year when the CFTC conceded that there was spoofing going on in the markets. Yet, as we might expect, regulators continue to balk at the very mention of collusion in the gold and silver markets.
Sadly, the manipulation has been “hiding in plain sight” for years, especially post-2008. Outsized candlesticks like this cannot be attributed to the normal ups and downs of the futures market:
Courtesy of Investment Research Dynamics
If you’re looking for a “catalyst” for this kind of price action, you won’t find anything that withstands scrutiny except simple, stark manipulation.
If you need more evidence, how about the time in 2017 when Maguire accurately and publicly predicted a massive gold price surge? Or what about the silver “flash crash” of that same year – does this price action look “natural” or “normal” to you?
Courtesy of GoldPrice and TradingView
While you’re at it, feast your eyes on this seemingly unprompted, high-volume gold crash in 2015:
Courtesy of GoldSilverWorlds
I am glad to report that Maguire continues to blow the whistle and report on big bank and governmental collusion on all fronts. Still, traders and investors might reasonably ask whether it is possible to capitalize on the knowledge of large-scale manipulation of precious metals prices.
Maguire has himself suggested that there will come a time when we won’t have the luxury of using this data to our advantage in the way it has been done in recent years. The powers that be certainly don’t like the fact that someone has cracked the gold code, and the window of opportunity for retail investors won’t likely last much longer.
This isn’t to discredit the idea of holding physical precious metals as a hedge or as a store of value. In fact, despite the clear evidence of massive price manipulation, gold, silver, and other precious metals can still be an excellent addition to any portfolio.
However, this must be done in the right way, and with the right analysis; otherwise, you’ll just be another victim of the games that central banks play, day after day.
I’ve published my free, exclusive report on how to play the precious metals markets for maximum profits at http://www.portfoliowealthglobal.com/goldplaybook/, which you can easily download today for the latest information and research on this.