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<p>[QUOTE=&quot;Owle, post: 1395545, member: 22004&quot;]This from &quot;Sovereign Society&quot; recently, clarifying a possible reason for the tumble in the gold price:</p><p><br /></p><p>&quot;And on the last day of February, just a week and a half ago, it happened again...</p><p><br /></p><p>&quot;The action in the precious metals markets again reeked of Washington and perhaps Brussels.</p><p><br /></p><p>&quot;The day began with gold and silver moving higher. </p><p><br /></p><p>&quot;Gold traded up to $1,792.30 an ounce, while silver traded up to $37.58 an ounce, running right through its $36 resistance level. At the same time, gold was fast approaching its key psychological level of $1,800. </p><p><br /></p><p>&quot;It just so happened that on the morning of February 29, Fed chairman Ben Bernanke was speaking before Congress. Meanwhile, the ECB was printing, injecting or simply giving $803 billion to more than 800 banks as part of its long-term financing operation amid the Greek debacle. </p><p><br /></p><p>&quot;Over the past few years, every time Uncle Ben has flapped his lips publically, the prices of precious metals have exploded higher. This time, as Bernanke spoke and the ECB printed euros, something different happened. [h=3]<b>A Huge Sell Order in Gold</b>[/h]&quot;Some close friends who trade gold in the futures pits on Wall Street told me that as Bernanke spoke a huge order came into the gold futures pit. </p><p><br /></p><p>&quot;That order, given by financial giant JP Morgan, was to sell 15,000 contracts of the yellow metal, that&#039;s 1.5 million ounces of gold. And at $1,790 an ounce, that is $2.7 billion worth of the precious metal. That is a huge order that took less than one minute to execute.</p><p><br /></p><p>&quot;Now I&#039;ve been trading precious metals for more than 30 years. I have executed some of the biggest orders in the gold and silver futures pits that the market has ever seen during that time. </p><p><br /></p><p>&quot;And, I have seen other market players execute huge orders. Finesse is often an important factor in executing a large order - and I can tell you there was not a hint of finesse used to execute that massive order on February 29.&quot;[/QUOTE]</p><p><br /></p>

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