Cesato

Did the ECB Save COMEX from Gold Default?

Nobody saved anything, it is how the markets works. As soon as you understand market cycles you will be buying at the right time, selling timely and buying back near bottoms. Big players (real winners, not losers like already broken investment Banks) in Gold are diversified in their portfolios and constantly keeping a balance between those assets. It's been more than a year since the manipulation theory (inexistent by the way) has been discussed in order to justify losses from uneducated investors who don't realize that following the trend and identifying the corrections associated with other assets' moves makes you a winner. I really got tired of that manipulation discussion, buy low sell high and add to breakouts either if you are long or short, it does not get any simpler that that. If you were making money you would not waste your time digging into theories but explaining why the market does what it does without taking you off-guard. Remember that physical Gold can be bought and sold for a profit as well, you don't have to keep it under the mattress just for pride, it is a way to make money and still have physical on your net worth long term, playing paper Gold as a hedge is another means to make some money short-term if you are in love with the physical stuff. For now the trend in Gold continues and will continue down for a while.