Dan Norcini writes:
"... selling of this magnitude is done with one purpose and one purpose only - to take down a market.
"Some of the usual skeptics will no doubt instantly dismiss such talk of manipulated price again. Attempting to convince such is a fruitless endeavor. Someone could piss down their backs and they would still believe it is raining. Truth be told it matters not whom the culprit/culprits are; their footprints are unmistakeable.
"Gold will need buying on the physical markets to absorb the speculative long liquidation and fresh shorting that is now occuring as a result of this technical breakdown of the paper markets. That means Asian buying and Central Bank buying." click over for the full post and chart.