The Market for Gold
Like most other markets today, also the gold market is completely dominated by what a small group of people decide. Here is an interesting summary of how this happened in the major gold market drop of lately:
“For example, when prices fell in mid April and again since last Thursday, the declines were attributable to massive quantities of gold and silver being sold in a short key time, a pattern that does not normally occur in a free market. Parties seeking to liquidate a large gold or silver position at the highest possible price will try to do so while attracting the least attention. Almost always, such sales are allocated among multiple brokers, none who know that they are only handling a small part of the total quantity being sold. Such sales also tend to be sold over the course of multiple days and even weeks and months so as to avoid attracting attention to any broker’s activity.”
So it happens when someone clearly not interested in making a financially sound moves enters the market.
Full read below:
Other News & Articles numismaster.com
Gold Drop: An Opportunity? “When are gold and silver prices going to go back up, if ever?” This question, or variations of it, is the most common inquiry made of coin dealers today. As of the COMEX closes Monday, the price of gold is down over 28…