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Title: Gold Falls 4% As Futures Sold Aggressively While Buying of Coins and Bars Surges
Source: [None]
URL Source: https://news.goldcore.com/gold-fall ... ying-of-coins-and-bars-surges/
Published: Mar 13, 2020
Author: Tyler Durden
Post Date: 2020-03-13 11:44:38 by Horse
Keywords: None
Views: 3952
Comments: 73

Stock markets around the world collapsed yesterday as market panic led to massive sell offs of over 10% on U.S. markets, the worst crash since October 1987 and European stocks had the largest falls seen since 1940.

? Gold started the day well and only started falling at 1130 GMT and ended the day 4% lower; the sell off was once again solely a futures market phenomenon as government mints, refineries and gold bullion brokers around the world including GoldCore, saw very significant demand for coins and bars – and very little selling.

Poster Comment:

Good sign. End is nigh.

Post Comment   Private Reply   Ignore Thread  

Begin Trace Mode for Comment # 14.

#1. To: Horse (#0)

With the stock market crashing, shouldn't gold be going up? Ain't that the way it's supposed to work?

But the gold/silver ratio is up to 105. Never saw it that high before.

StraitGate  posted on  2020-03-13   14:20:28 ET  Reply   Untrace   Trace   Private Reply  

With the stock market crashing, shouldn't gold be going up?

Good question.

Corporations and investors are scrambing like mad for the strongest liquid currency to do business in. That makes for a strong dollar. When you price PM's in rising dollars, the price of PM's will tend to decrease.

Also investors have also been putting a lot of gold and silver on the market to cover their losses in shorts and other badly performing assets. It is quick er to cash out of PM's than to sell the ranch.

randge  posted on  2020-03-13   14:57:56 ET  Reply   Untrace   Trace   Private Reply  

Thanks, that makes sense.

StraitGate  posted on  2020-03-13   15:48:37 ET  Reply   Untrace   Trace   Private Reply  

Yer welcome, SG.

And that's not to say that the usual suspects ain't at work suppressing PM prices.

randge  posted on  2020-03-13   19:58:08 ET  Reply   Untrace   Trace   Private Reply  

#16. To: randge (#14)

the usual suspects

Yes, those Irishmen can be pretty tricky.

StraitGate  posted on  2020-03-13 20:45:09 ET  Reply   Untrace   Trace   Private Reply  

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