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Gold and silver smashdown: More to come?

Posted on 16 July 2014

Well, hardly had our article yesterday on a potential smashdown in gold and silver been published on site for a couple of hours than, hey presto, it seems to have happened. Or at least started. According to reports a massive $1.37 billion sale of gold futures hit the market at New York open.
This initially drove the gold price down by around $20 before it recovered a little maintaining a level just above $1300 an ounce where it stayed overnight and in choppy morning trade in Europe. This morning has seen some strength on a rebound, though, taking the yellow metal back up above $1310 at the time of writing suggesting greater resilience than yesterday’s heavy seller(s) may have contemplated. Silver has been following gold’s lead as it is wont to do. ……………………………………….Full Article: Source


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


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