Gold Daily Video, 09 May, 2016

[Sive Morten]

Good morning,

Last week CFTC numbers were extremely bullish and this significantly increases probability of reversal. Now is a major question could gold complete 1330 target or not:





The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[AFX.Advisors]

Very useful video
Thank you

 

[IrwanI]

Thanks Sive

 

[leo4fx]

Found an article about open interest numbers on the Comex.
This number is being played by the central banks to manipulate the price.
The banks can do this until the Shanghai gold exchange starts real pricing : From https://www.sprottmoney.com/blog/comex-gold-open-interest-craig-hemke.html
"Now that the Chinese have pricing power in gold, they quite literally have the ability to completely screw and hammer the Comex and London Banks. They can raise the Shanghai Fix and enable the immediate arbitrage. They could use this tool to drain whatever gold is left and utterly crush every big, western Bank."

 

[IrwanI]

Found an article about open interest numbers on the Comex.
This number is being played by the central banks to manipulate the price.
The banks can do this until the Shanghai gold exchange starts real pricing : From https://www.sprottmoney.com/blog/comex-gold-open-interest-craig-hemke.html
"Now that the Chinese have pricing power in gold, they quite literally have the ability to completely screw and hammer the Comex and London Banks. They can raise the Shanghai Fix and enable the immediate arbitrage. They could use this tool to drain whatever gold is left and utterly crush every big, western Bank."

Yes,AIIB