a Puppet spoke
Bernanke is now 3 for 3 --- No coincidence seeing the 3 largest drops for Gold this year, come as Bernanke speaking on a TV Broadcast. Next time you may want to consider grabbing a handful of GLL
[ Short Gold x2 ] Calls, just for the day.
Here is the list:
Gold Settles Under $1712 After Bernanke Speaks
Published: Wednesday, 29 Feb 2012 | 4:07 PM ET
Gold fell 3 percent on Wednesday for its biggest one-day drop in 2-1/2 months, as a dollar rally following U.S. Federal Reserve Chairman Ben Bernanke's comment on an encouraging job recovery prompted funds to heavily unwind bullish bets.
Bernanke Speaks Gold Drops
March 14, 2012 19:45 (GMT)
The last time Fed head Bernanke spoke gold plunged close to $75.00 in minutes. When the FOMC released their minutes and statement, telling the markets they were going to hold rates close to zero until 2014 gold dropped like a lead balloon
During a dramatic couple of hours in the New York yesterday gold tumbled to the lowest level in more than a month. The 100+ dollar drop was the biggest since 2008 and it was kicked off by a speech from the U.S. Federal Reserve Chairman Bernanke.
www.zerohedge.com/.../gold-plunges-bernanke-speaks-
1 hour ago – Gold Plunges As Bernanke Speaks:
The biggest beneficiary of the Bernanke soliloquy so far is China, which has managed to get a new cheaper entry point on Bernanke's latest attempt to talk down Gold while keeping stocks up (because rising input costs courtesy of oil apparently only impact the gold bottom line). After importing 100 tons in physical gold (not GLD) in April, the country will be even happier to buy far more at lower, not higher prices.
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~also ! Q1 reports in
1 day ago – Soros Fund Managementmore than tripled its investment in the largest exchange-traded fund (GLD) backed by bullion to 319550 shares,
In the hedge fund business, Soros Fund Management more than tripled its investment in GLD, the gold ETF, in the first quarter to 319,550 shares now valued at $50.2 million, Bloomberg reported.
John Paulson held on to the biggest stake
Paulson & Co. still holds 17.3 million shares in SPDR Gold Shares, now valued at $2.72 billion, according to the report, which cited an SEC filing.