Here's a good example of why gold is not trading freely in today's markets.
In the last week there's been the fear of the Greek default and the chaos of global banking.
Bitcoin has reflected the surge in interest in safe haven status.
Yet gold has not been allowed the same freedom.
We've seen this before between these two metrics when global financial markets are weak and under attack.
From being a constant watcher of gold's movements tick by tick (with live intraday screens of gold running 24/6 next to me) it's obvious that gold's price action is being contained.
Every time there's a surge in price under volume you see the counter move quickly processed whereby the price is pushed back again.
Normal price structure is being controlled surupticiously on the side by deep pockets.
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Nick Laird Chartist / Member of the Goldbroker.com Editorial Team
I opened Sharelynx.com up in 1998 and have spent the last 16 years making charts and collating data. I have been saving, storing and collecting all facets on gold for the last 3 decades and have built up a huge collection. I'm a one man show doing all the hosting webpage design and installation plus chart creation and databasing. I also supply charts and datafeeds to a number of other gold themed websites. In the late 1990's I was very active on the Kitco Gold Forum and then later on the LongWave forums. Since mid 2005 I have pulled away from any public interaction with forums and now spend all my time collecting and collating data and making charts and new webpages.