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After reading this article, I am surprised gold didnt drop more!!!!

BigEBigE Posts: 6,949 ✭✭✭
in Precious Metals
850 million dollars in gold contracts liquidated asap, shows how strong the buyers are to absorb this amount and only have it drop around 50 bucks




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I'm glad I am a Tree

Comments

  • derrybderryb Posts: 37,619 ✭✭✭✭✭
    Big difference in selling $850M in promises and selling $850M in actual bullion. A dump of $850M in bars would have made the market take real notice.

    Foreign central banks (particulalrly China and Russia) are net buyers, mostly through proxies, and will absorb all they can get their hands on. Their only concern is maintaining stealth to hold down what they have to pay.

    No Way Out: Stimulus and Money Printing Are the Only Path Left

  • johnny9434johnny9434 Posts: 29,180 ✭✭✭✭✭
    i wonder how many others snapped them up?
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