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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Why are the gold, silver prices rising?

Posted on 26 July 2013

Gold and silver recently hit their lows –$1,180 for gold and $18.50 for silver—after being hit by tremendous persistent selling from the SPDR gold ETF and then a major, well-engineered bear raid from Goldman Sachs, J.P. Morgan Chase alongside several hedge funds.
This entailed the selling of over 1,000 tonnes of physical gold in less than three months. The bear-raid in mid-April involved around 500 tonnes of this. In a market where the net supply is just over 10 tonnes a day, this wave of selling overwhelmed demand, initially and caused the precipitous fall in gold and silver prices………………………………………..Full Article: Source


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VRS - who has written 38538 posts on Opalesque Commodities Briefing.


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