"South African miners on strike, forecasts of mine closures and lower production."
My comments:
Why is that relevant? Why shouldn't that mean the gold price falls?
I mean, the gold price quickly fell hundreds of dollars after ABN Amro defaulted earlier this year on physical deliveries to its clients.
After all, physical gold has been replaced 100 times over with "paper gold" backed by no physical gold. This paper sets the price.
