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Gold/Mining/Energy : Gold Price Monitor
GDXJ 121.93+0.8%Jan 9 4:00 PM EST
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From: Alex4/13/2013 8:49:46 PM
   of 116845
 
"While the gold sale by Cyprus is itself small, heavily indebted euro-zone nations such as Italy and Portugal could also find themselves under increasing pressure to put their bullion reserves to work.

"If Cyprus can break the gold market, then [there are] many reasons to be worried, with Slovenia, Hungary, Portugal, Spain and Italy in line," Milko Markov, an investment analyst at SK Hart Management, said. "It is a make-or-break moment for gold ... if the market can't handle the reallocation and Cyprus, then there is really a need for a bear market."

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