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Monday, 13 February 2012

Gold price spike

The gold price spiked up momentarily by more than $30, before returning to pre-existing levels, shortly after 23:00 GMT = 10:00am AEDT (Sydney), Monday morning.  See Kitco's chart below.

I acknowledge Kitco.com for their chart.
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3 comments:

  1. Skydda BråbygdenMon Feb 13, 04:48:00 pm GMT+8

    Why? Anybody has a clue?

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    Replies
    1. Nils MarchantTue Feb 14, 11:35:00 am GMT+8

      We would need to identify the buyers and the sellers, and their motives, which I can not do.

      Delete
  2. Nils MarchantWed Feb 15, 03:36:00 pm GMT+8

    Dear Skydda,

    Jim Sinclair might have your answer.

    Jim argues that central banks are acting to prevent gold from rising violently. So maybe strong buying sent the price up on Monday after the Greek vote, and central banks reacted with strong selling within half an hour.

    See KingWorldNews at

    http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/2/14_Jim_Sinclair_-_CBs_Trying_to_Keep_Gold_from_Rising_Violently.html

    and the associated recordding of the broadcast, but be careful: I can not open the recording; it crashes my browser.

    with kind regards,
    Nils.

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