Ah, the intrigue – what could I possibly mean by “820?”
And the answer – quite simply – is 8:20 AM EST, the opening of the New York COMEX futures market, i.e. the CRIMEX.
As a veteran of the gold wars – ten years this month – I have learned a lot about myself, human nature, and the world around me. Every aspect of my life has been affected by Precious Metals – some good, some bad, but in sum total, worth every second spent.
Over this period, the most invaluable knowledge I have learned is the difference between REAL fundamentals in the PHYSICAL PM markets, and the FAKE prices of the PAPER arena. From 2002 through 2009, GATA empowered my search for the truth. Finally – circa 2010 – I mastered “the Force” of Precious Metals analysis, the “holy grail” of knowledge. In other words, how the Cartel works, and how to beat it – the latter answer to shun PAPER PM investments in favor of PHYSICAL bullion.
In the PM bull’s first phase -the early 2000s – the Cartel had not yet finely tuned its craft. Yes, attacks were omnipresent, but less organized and consistent. The global economy was still in reasonable shape – and PM prices low – so there was little need to control the PM market as comprehensively as today. Thus – for instance – gold prices could have significant moves at various times throughout the night.
It is both a blessing and curse that gold trades 24 hours/day, as it is hard to avoid checking at all hours of the evening – and even night, if awake that late. Stock investors don’t have to deal with late night futures markets, but PM investors – and traders – certainly do. Thus, over the years I have checked the price countless times in the evening, euphoric when they’re up and dejected when they’re down. And lately – per the all-encompassing CONTROL the Cartel has taken over PMs – they’re nearly always down in the U.S. evening. Another brilliant “psy ops” operation, which over time can cumulatively drive one mad.
That said, the main point of this RANT is a key piece of knowledge it took years to ingrain into my consciousness, and it is thus…
The price of gold is MEANINGLESS from the time the NYSE closes at 4:00 PM EST until 8:20 AM EST the following morning, when the COMEX opens.
From the NYSE close at 4:00 PM EST until the Hong Kong market opens at 10:15 PM EST, you will learn NOTHING from gold’s price changes, as this is the thinnest time of the global day, when NOTHING material ever happens. Usually, the Cartel makes sure gold prices are weaker than the 4:00 PM NYSE close – lately, roughly 95% of the time – but such activity has ZERO impact on the following day’s trading.
Similarly, gold gently rises from 10:15 AM EST through 2:15 AM EST – the “Asian trading hours” – as it has for the past 12 years, before the London “pre-market” opens, yielding consistent suppressions, typically are initiated 45 minutes later at the KEY ATTACK TIME of 3:00 AM EST.
Even if you awaken early – at 4:00 AM EST, for example – and see gold sharply down, have no fear, as it, too, is MEANINGLESS. The reason, of course, is that 90% of ALL gold’s material increases occur between the 8:20 AM EST COMEX open and the PM Fix at 10:00 AM EST. Not that major smashes do not occur at 8:20 AM EST – which as you know is a KEY ATTACK TIME – but on just as many instances, gold has its biggest move of the day at this time, until it is inevitably typically stopped by the “CARTEL HERALD” – especially if it rises 1% – at either 10:00 AM EST or 12:00 PM EST, the “cap of last resort.”
Once you understand this universal PM truism, you will sleep more soundly – especially if holding PHYSICAL gold and silver, which the Cartel would have to pry from your cold, dead hands.
You see, I am not only trying to protect your ASSETS, but your SANITY!