Interesting how Gartman bought Gold for the first time last Friday morning on nothing more than a hunch after being bearish for weeks on the Yellow metal. Then out of the blue, the POG began to rise the very same morning alongside the Greenback & has also outperformed other key commodities (eg. Oil.) Does this guy really have such well-heeled clients that they can move markets or was he tipped off by insiders? The timing is certainly uncanny. If someone were to ask me what has changed the character of Gold lately I would refer them to the warning shot out of China last Thursday, first and foremost, as they not unlike us have also grown weary of CRIMEX shenanigans.

Central bank warns of risks in illegal gold futures speculation
www.chinaview.cn
2008-10-23 17:30:59

BEIJING, Oct. 23 (Xinhua) -- The People's Bank of China said on Thursday that "underground gold futures speculation" was "typical illegal trading on gold futures" and was not protected by law.

The central bank warned Chinese investors of the extremely high risks in illegal futures trading.

Illegal gold futures trading is reported to have cost Chinese investors at least 100 billion yuan (14.6 billion U.S. dollars).

The illegal gold futures trading operates in two main ways: local companies working as agents for domestic institutions and individuals to help them invest in overseas gold futures; companies providing services in gold trading and demanding investors deposit money in designated accounts in a variant of margin trading.

The central bank said Chinese investors could conduct real gold trading through domestic commercial banks, or invest in gold futures through the Shanghai Gold Futures Exchange.

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