Why gold hit bellow $280, Here is my opinion,
1. There are economic turmoil in ASIA.
2. People in Asia is forgetting a while for gold, look there are panic buying of food, so gold will be a third choice for people in Asia after food and consumer good.
3. Worst than that, now people in Asia is giving their Gold for their Country to support their economic, so they could get more USA dollar by sellling their Gold.
4. This situation will take a long time, so don't expect the POG will rebounce in a short time.
5. This situation will affect the USA Market, because now, we are in a global market era/open market system, and actually we are in a close loop system, something happened on the other side of the world, sooner or later will have impact to the whole world.
6. Of course these conditions will bring a bad situation for BCMD, this is a real fact not a negative hype. So All be more realistic from now.
All above is just MHO
Abi |
