RE:Gold PriceThis last drastic drop in gold price was triggered Monday by a 5 ton dump of gold in the China and US markets at the time of day when there was no liquidity. Don't think demand from retail investors can counteract this move.
conspiracy theorist may argue this is a deliberate manipulation to force further drop in price, allowing for more gold purchases from China. who is to believe the latest announcement on gold purchases from Bank of China, anyway. They can say whatever they want, no agency is going to audit them.
read that this drop is a speculative play in case the Fed does not raise interest rate in September. Imagine the gains if this were to happen and the $200+ margin gold would escalate to get back to the highs of gold price this year. This is not a far fetched one! Seems very plausible and reasonable risk to play with huge upside reward.