HSBC Reasons For Drop in Gold Price Now that the dust has settled and people have had a chance to figuire out why the price of gold fell over the two previous trading dates, the main stream media is reporting that fear of weaker European countries - Greece, Italy, Spain, Portugal - would have a forces sell off of gold just like Cyprus triggered the sell off.
None of the other reasons given invalidate the fundemental reasons for gold continuing to be a safe haven and today we see gold is starting to recover. Report have been coming in of people in India and China taking advantage of this drop in price to buy. Also, today we see good volume buying shares in Orvana.
Here is a Marketwatch article on HSBC reasons for the drop in gold price.
https://blogs.marketwatch.com/thetell/2013/04/16/6-reasons-for-golds-massive-selloff-hsbc/