roger's reasoning may be what the market players believe and if enough believe, then market reacts the way it does, drops
but the reasoning, when dissected, may be suspect, because
(i) india hiking tax on gold import would simply encourage smuggling that would offset demand downward pressure
(ii) cyprus 10 tonnes would be over in a matter of minutes
although folks may be fearful of italian / spanish sales, even as each oz sold has at least one obvious buyer w/i greater china (mainland, hkg, macao and taiwan)
(iii) chart analysis - selling begets selling - could be, but if so, irrational, as ag, pt and pd gets thrown out w/ bath water
(iv) bit coin - how big was that bubble and exactly how much was exchanged at the needling peak? how many folks were actually wounded? cannot be that many.
so, no, i fear something else is at action, and that something else shall be evident soon enough.
am holding off my re-entry into silver arena, but may switch to platinum targeting instead, that which is more sure than silver and more useful than gold. |
