Club Mulgoa

Saturday, November 03, 2012

POG plunged

Big fall in the POG in New York on Friday.  That usually means a central bank has sold a large amount of gold.  Usually, it springs back as there is still a huge demand in China for the yellow metal.  But who knows?!

For the price to plunge, it isn't a matter of supply-demand balance; it is due to a desperate big seller or lots of speculators acting under one umbrella.

I am not selling...

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