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Gold falls as futures are sold aggressively while buying of coins and bars surges
By Mark O'Byrne
Friday, March 13, 2020
Gold started yesterday well and started falling only at 11:30 GMT, ending the day 4 percent lower. The selloff was once again solely a futures market phenomenon as government mints, refineries, and gold bullion brokers around the world, including GoldCore, saw significant demand for coins and bars -- and very little selling.
Margin call selling is being blamed for this latest gold futures selloff, but given the evidence and convictions regarding gold manipulation by banks in recent years, it would be naive to rule out the possibility of banks attempting to push gold lower either for profit motives or on behalf of officialdom in order to calm markets.
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If gold had been allowed to surge 10 percent on the day in a free market, it would likely have unleashed a gold rush the like of which the modern world has never seen.
Gold remains up nearly 5 percent year to date and more than 23 percent over a 12-month period, while most stock markets are now down more than 20 percent in lees than a month. Bitcoin collapsed nearly 50 percent yesterday, underlining that it is a highly volatile, risky, and speculative crypto asset rather than a safe-haven asset. ...
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Toast to a free gold market
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