Quote:
Originally Posted by Bill8
The market dropped 6%, so people are taking profit from their gold. The money to cover the bets has to come from somewhere.
There's a saying - "when you can't sell what you want to sell, you sell what you can".
What will be interesting to see is what happens soon, in the next few months.
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That's dumb man. The gold drop has been just in the last couple weeks with most of it in the last couple days. When the market to the huge plunge and dropped from 12,800 down to 11,000 a couple months back, gold shot up from about $1500 to $1800 during the same time. The market has been bouncing between 10,800 - 11,500 consistently the last several weeks. The market going down usually makes gold go up, not people selling gold to make up for market loses.
Even if your logic was true, the stats the last couple months don't support it.