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$1,391.7 gold futures

I did notice one other poster said a 50ton sale from a single...

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Dazedandconfused

7,375 Posts.

2000

02/11/14

00:36

Post #: 14222783
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Originally posted by timber1956 ↑

Hi there Dazed

I agree that the PoG response to the BoJ announcement wasn't logical.

My assessment is that the PoG should not have responded at all. QE is not inflationary, and it has limited stimulus value. It is an economic lever of questionable value, except for bolstering commercial bank reserve deposits.

So why a sell off?

I think the blame falls on nervous Comex traders. They are long gold futures and very unhappy. At the moment if someone said "BOO" very loudly their first instinct would be to sell. If it hadn't been the BoJ, any other surprise news would have provoked the same reaction.

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I did notice one other poster said a 50ton sale from a single seller went through shortly after the BoJ ann. .... the only reference I can see for that anywhere is KingWorld news. So far I have not found any corroborating reports.

http://kingworldnews.com/kingworldn..._Todays_Massive_Selloff_In_Gold_&_Silver.html

[Although this might be an accurate report of the event I am just so weary of the 'drumbeat' tone coming from these guys.]
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