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Craig Hemke's options price balancing successfully predicts Comex gold price
4:43p ICT Thursday, April 27, 2023
Dear Friend of GATA and Gold:
Comex gold futures options levels seem to have predicted the closing price of the June Comex gold contract just as the TF Metals Report's Craig Hemke said it would, "near or just below $1,990," more evidence of market manipulation by the bullion banks that buy and sell the options.
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But Hemke counsels against despair for gold investors, writing:
"Even though there have now been criminal convictions for precious metals price manipulation, the bullion bank trading desks continue to attempt to manage price on a daily basis. Knowing this will allow you to better time your purchases of physical metal going forward.
"Additionally, you must understand that, even though the manipulation continues, prices can and will go higher regardless. Recall that Comex gold was $300 in 2003 and $1,100 in 2015. It's now near $2,000 and the average annual gain in dollar terms this century is 9.3%."
Hemke's analysis is headlined "Comex Gold Options Update" and it's posted at Sprott Money here:
https://www.sprottmoney.com/blog/COMEX-gold-options-update-april-26-2023
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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