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

Default fears boost gold prices

Posted on 09 October 2013

Gold generally thrives amid disruption and instability, as a safety play in times of uncertainty. Yet on October 1st, the first day of the U.S. government shutdown, gold investors awoke with the price of gold down nearly $40 in the overnight session. Why the surprise move down?
It was mostly a case of “buy the rumor and sell the news.” For nearly three weeks leading up to the government shutdown, gold had been climbing on the possibility of a closure. When it happened, the smart money decided to take some profits………………………………………..Full Article: Source


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VRS - who has written 37062 posts on Opalesque Commodities Briefing.


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