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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

What the fundamentals say about gold prices!

Posted on 10 July 2013

After all the fall in the gold price was hard and fast due entirely to the bear raid in the U.S. This started in mid-April after the sales from the SPDR gold ETF had begun more than a month ahead of that. The signal for the bear raid was given when Goldman Sachs issued a recommendation to their clients to go ‘short’ of gold.
The fall was very dramatic and shook the gold world to its roots. The volumes of physical gold that were sold were enormous. Even the Central Bank Gold Agreement limitations on gold sales (when they occurred, pre-2009) were held at 4 – 500 tonnes a year. These sales took place over three months, with the 500 tonne bear raid happening in one week………………………………………..Full Article: Source


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This post was written by:

VRS - who has written 38163 posts on Opalesque Commodities Briefing.


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