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GOLD IS TANKING!!! -2% LOWEST PRICE SINCE AUGUST!!!
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[quote:Anonymous Coward 990186:MV8yMDg1OTUzXzM1MTMxOTAzXzZBNjgxNTZC] [quote:Luisport:MV8yMDg1OTUzXzM1MTIyNTYyXzZERkFGRDQx] Gold futures tanked today falling nearly 2% for a combination of reasons, according to a futures trader consulted by Business Insider. He pointed to rates rising at the higher end of the yield curve (the 10-Year and the 30-Year) noting that the higher yields are "indicative of the market pricing in a better global growth story." He noted that with better growth prospects, the Fed could potentially back off its Treasury purchases, which is dollar bullish. That in turn would be another reason why gold would be lower. He speculated that some hedge funds may be liquidating their positions. If you know more about this, we'd love to hear from you. Please send an email to jlaroche@businessinsider.com. Read more: http://www.businessinsider.com/trader-explains-why-gold-futures-tanked-2012-12#ixzz2FR24U3IE [/quote] These sorts of explanations are just so much hot air. In reality it is simply another "unexplained" drop that just so happens to enrich the JP'S and the Goldman's once again. These companies will be paying out their executive Christmas bonuses soon, so what better way to fill the payroll account than to soak the suckers on the other side of the precious metal transactions? [/quote]
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Business Insider‏@businessinsider
GOLD IS TANKING [
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