09.10.2013 - Default fears boost gold prices
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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