"Bank of Japan’s monetary blitz explains the Fed action to suppress the gold price this weekAlthough some here claim I'm a gold bug, I think of myself as preserving my purchasing power through the various types of bullion that I own.Having said that, I really don't buy into the Fed manipulating gold or any other precious metal pricing. I will agree that the "oversight" bodies are definitely not very enthusiastic about enforcing short selling rules (i.e. requiring that the item being shorted actually being borrowed first).I think the selling this week was Cyprus living up to the ECB, et al demand that they sell their gold as part of the bail-out-in-whatever agreement. Since Cyprus likely didn't own much gold, their impact was just a matter of days in duration. I've thought privately that it would be funny (in a not funny way) if Germany was the buyer of the gold they required to be sold.Poz
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