8t of Gold purchased on the night gold plunged, and gold falling again last night as the US markets fall and news on a revision of 1st GDP to a possible -.6 tonight. I am not into conspiracies but rather that the markets have got this wrong. And some buyers of Gold know it. Yes now that the trend is broken down it may fall lower but some are already seeing it as a false break down, in others words people are paying more attention to the charts than the fundamentals.
"Holdings in the ETF climbed by more than 8 metric tons — to 785.28 on Tuesday from 776.89 metric tons on Friday.
“This was a large purchase and it did not affect the price in the U.S. immediately, when normally purchases or sales over 4 tonnes impact heavily,” said Julian Phillips, founder of and contributor to GoldForecaster.com. “We were so surprised that we checked our figures and historic data to see if we had the figures wrong, but no, the purchase was heavy and real. So we wait to see market reactions to this price and to this buying.”"
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