The 1st one is from analysts at JP Morgan suggesting Greeks will be selling their gold to pay for their debts. The second is from The Australian which suggests that the Greeks are becoming like the Germans in their new passion for gold coins.
Methinks the guys at JP Morgan are trying to talk down the POG given their short positions, taking the line that gold will be sold down to pay for debts. I don't think Americans fully realise the hording mentality of Europeans... there is no way I would stand infront of a horde of Europeans hording physical gold. At some point the paper gold market is going to come unstuck. I think Faber and Rogers are right in their concerns over the paper gold market and that it could get very ugly.
I'm expecting POG to test $1,100USD/oz short term on cash liquidity issues (mkt manipulation??), but over the next 1-2 years the physical demand out of Europe is going to be relentless... unless it is made illegal to hold that is....
