via Kitco - 24hr Chart

The following chart shows that the sell off in gold was during London trading hours and concluded with the closing of the London markets.

These market interventions are the result of central bank gold leasing in the UK. This type of market action has characterized the London market for an extended period of time, since well before Operation Twist.

What also characterizes these price fixings are no lease rate rises, which should rise on the selling of physical gold. This just confirms that leases are being sold into the market, not physical gold.

This is not just a market manipulation, but a clear policy of price intervention. I would say this was a desperate move, as the UK Central Bank is probably running out of the ability to lease what it has left.

They may also be last ditch attempts to prop up the Pound, as short term yields on gilts have fallen below 0.5%

source: http://www.kitco.com/

-F6