Post by
arlene2 on Apr 10, 2013 1:01pm
PRICE OF GOLD
down today.........IMO for two reasons......1) Cyprus announced that they plan to sell over half a billion dollars of their gold reserves and 2) minutes of the last Fed meeting indicated that some members were CONSIDERING cutting back on QE..........The first is probably true as they desperately need the cash , but the second reason is ,in my strong opinion , strictly propaganda to protect value of U S Dollar......Cutting back on QE any time soon would likely result in a deep recession , which Bernanke is totally against.....
Comment by
arlene2 on Apr 10, 2013 1:18pm
Probably should have added a third reason----------Although I disagree with it , I do believe the Goldman lower forecast for gold in 2013 & 2014 contributed to todays price decline in gold.......Many sheeple listen and then act on what Goldman publicly states...