Short term yes. Long term no as I suspect the action was orchastrated for the bullion banks to cover their short positions. Seen this so many times before now. Price of Gold drops $150 in a couple of weeks. Silver follows. The shorts cover then we are back to the races.
Things are only getting more interesting.
ABN Amro Morgans telling clients that they will have to take a cash payment on their gold because they are unable to deliver the physical.
Germany wanting all their gold back and told that it will take seven years.
And amongst all of this IVR Announcing their maiden JORC in the latter half of this year along with hopefully successful drilling in the satellite deposits of Peterlumbo.
Ann: Paris Update , page-17
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