This from The Business [ABC1]
Gold is now in pressure territory for many gold miners. Kingsgate Consolidated is banking on its Chatree mine in Thailand to carry it through and it's talking up gold and silver finds in South America.
Ross Smyth-Kirk, chairman of Kingsgate Consolidated speaks to Ticky.
http://www.abc.net.au/news/2014-11-05/extended-interview-with-ross-smyth-kirk/5870060
Hi timber
The concentrated selling is not how anybody would conduct their business if it was simply a matter of "
banks who have hedged the price risk by selling futures". The recent action is clearly aimed at driving the price down.
There is obviously somebody with very deep pockets plying some kind of paired trade .... possibly, selling gold and buying $US