GOLD 0.51% $1,391.7 gold futures

g-7 getting set to manipulate gold?

  1. 24,765 Posts.
    "Noda: G-7 Will Take Any Action Necessary to Stabilize Markets

    Group of Seven nations sought to head off a collapse in global investor confidence after the U.S. sovereign-rating downgrade and a sell-off in Italian and Spanish debt intensified threats to the world economic recovery.

    The nations will take every action necessary to stabilize financial markets, the G-7 said in a joint statement released today."

    The full article is at http://www.bloomberg.com/news/2011-08-07/g-7-vows-to-take-all-necessary-measures-to-stabilze-economies-markets.html

    My comment: Presumably a soaring gold price means a lack of "global investor confidence" so expect heavy G-7 manipulation of gold to "head off a collapse in global investor confidence."
 
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