POG has been sold down overnight, strange it always happens when the Northern hemisphere is awake. Apparently the Cyprus problem has been solved!! But their banks will remain closed for another 4 days. I read on the HC GOLD blog that Dutch ABN AMRO has now banned the physical dilivery of gold due to a shortage of the precious metal. Apparently their statement read something like "Dont worry we have your precious metal investment and all sales and purchases will be honoured."
What the %$*& !! Theyve got your gold alright!!
Personally I think this is the EU Zone in its death thro's and central banks and others are keeping the POG low so they can buy as much as possible. Spain,Greece,Portugal,Italy,Cyprus are all bankrupt and will never climb out, Slovinia is next and France is soon heading into negative growth, Germany is about the only EU country surviving.
Dont worry folks, theyve got your gold
BDR Price at posting:
94.5¢ Sentiment: None Disclosure: Held
