Gold has fallen sharply during the past few days. Nobody wants to keep gold now. It used to be the asset that "cannot lose". This story shows how difficult it is to speculate in the market.
http://www.cnbc.com//id/45684174
http://www.cnbc.com//id/45684174
There is speculation the Indian Central Bank is selling gold to prop up the ailing rupee, they dun have much foreign exchange as compared to China, so only gold could be used.
ReplyDeleteAlso China has changed tack in their economic policy, so demand for hard commodities like metals are in sharp decline, though gold is used as jewellery and store of wealth.
Perhaps it's high time to listen to Marc Faber and sell gold, looks like the short and medium term, this metal has reversed trend.