Gary Noffke

Law of Supply & Demand Is Dead for Gold & Silver

Great article that was well researched. I have more than suspected manipulation of gold prices for the past few years. First I considered it to be speculation, but with the banks folding, gas going to $4.50, grains up, etc., it became apparent more was driving the market up and down than supply and demand. Rumors and short selling seem to be the culprit. I was trying to find hourly and daily volume charts for gold futures yesterday, but no luck. Find those and study them and you'll find this article more than credible. Buying futures without any intention of taking physical possession has turned Wall Street into a casino. Just find out who's buying and selling billions of dollars in commodities on a daily or weekly basis, jail them and put their funds in the US Treasury. Kim is right that this manipulation is going on and it's being done by the same individuals or groups over and over and over and over... Of course there's nothing wrong with it, it's just fraud.

Gold Futures' Dirty Secret (Part II)

I work in gold and have been buying small quantities since 1964. Except for the Hunt episode the price was relatively stable, closely related to rate of inflation, until 2000-2001. Then supply and demand and inflation took a second seat to speculation and manipulation. A few billion dollars bought or sold in gold drives the market up or down considerably. I'd guess a serious investigation would show the same individuals or groups are both buying and selling billions in gold every month or two. Gold is underpriced right now, so watch for another run to $1000 per. When it gets there, watch a big sell-out and see the price drop back to $800. This has been going on for years. Look at the graphs and the spikes. When it goes up $50 in an hour someone bought a lot. Also note the price of gold dropped around $250 per ounce in the last 4 or 5 weeks. This sure as whatever isn't caused by the rising dollar.