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Down Week For Gold

Curtis108 Wrote: Dec 03, 2012 6:25 PM
Ok, so, based on this manipulation of the gold market, why should I ever invest in gold at all? If the market is not fair and open, then it is just a rigged as the equity markets. Additionally, I am rather taken aback that 0.6% is a big tumble.

Gold took two big tumbles the last week of November, pushing prices down for the week and to even on the month.  The trigger for price drop for gold on Wednesday has been traced to 7,500 futures contracts that were dumped right at the opening bell, triggering a wide swath of stop-loss orders.  Prices recovered on Thursday, then the selling resumed on Friday, the last trading day of November.

When the dust settled Friday gold was down $11.00 to $1,714.60 and silver was off $0.77 to $33.40, with the silver/gold ratio ending the week at 51.3.  The sudden...

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