Fundamentals always win eventually -- but who will define eventually?
Market analyst John Rubino remarks tonight on the futility of technical analysis in a manipulated market like gold.
Rubino writes: "When big players with regulatory immunity can move an asset's price -- and can see resistance/support levels and moving averages just as clearly as anyone else -- smaller traders don't stand a chance."
"Fundamentals always win eventually," he adds, and maybe they do, but the question lately on the minds of gold investors may be whether fundamentals always win within the course of a normal human lifespan. As long as many gold investors -- including some very big ones -- buy paper gold, which can be created to infinity, instead of real metal; as long as the gold mining industry is so oblivious to the rigging of the price of its product and does nothing to defend itself; and as long as mainstream financial news organizations have no interest in committing actual journalism, central banks won't have to worry about any threat to their totalitarian power.
Those are the variables on which GATA continues to work.
Rubino's commentary is headlined "Golden Bullseye" and it's posted at 24hGold here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.