"Great conspiracy" behind the collapse of the international gold markets

[yota691]

"Great conspiracy" behind the collapse of the international gold markets

The yellow metal alloy disappear from Dubai because Iqbal Indians on purchase

Sunday 10 Jumada II 1434 - 21 April 2013

Alloy of gold

 

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Arabic. Forums -

Gold prices are currently shaken is the heaviest in years, having to shave at all-time highs to 1924 dollars per ounce in September / September 2011 he found himself at the borders of 1333 dollars last week, which is equivalent to a decline of 30 per cent from the peak.

For his part, the World Gold Council said in a statement published by the Saudi economic newspaper, to the existence of a conspiracy behind the collapse of prices.

Chief Executive of the Council Aram Shishmanian in the statement, "It has become clear over the past week that the fall in gold prices was making speculators in the futures markets, Venzerthm short-term profit-taking varies with the long-term outlook for investors in gold."

He pointed out that it appeared clearly through the massive wave of buying physical gold, which was launched over the weekend and has accelerated in the wake of its further decline on Monday.

"The increase in gold buying seen in markets stretching from India to China to the United States, Japan and Europe, buyers see it as an opportunity to buy gold at prices not seen in the last couple of years."

The director of a gold shop in Dubai yesterday: "ran out of our gold bullion and gold coins that have survived have is a class of eight grams, the Indian consumers in particular scrambling in the stores to buy any quantity they receive."

The World Gold Council that follow closely the reactions of the market has already seen a shortage of bullion and coins in Dubai, while reached Moreover prices to $ 26 per ounce in Mumbai and six dollars in Shanghai, which indicates that buyers are willing to pay higher prices than the spot price for precious metal.

He described the dealers in Dubai last week that the worst of the alloy in three decades, as gold prices lost more than 10 per cent in a single day and more than $ 200 an ounce in two days.

And trades observers more than one reason for this rapid collapse of gold prices, which do one of the banks to sell tally of gold of 125 tons, and the prospect of Cyprus to sell her gold, which hit the largest investment banks panic and try to get rid which has a metal yellow with successive descent prices.

Said Gerhard Schubert, head of precious metals at Emirates NBD in Dubai in his weekly "It seems that the selling pressure big last Friday swelled order the sale of four million ounces" 124.4 tons of gold, "performs at the opening of the Comex, and it was clear that this demand was greater which bear an empty market, and thus resulted in the first waves of pressure sales, which in turn attracted more selling, and so on. "

In the aftermath of the crash in gold prices during the first days of last week in Dubai traders expected higher demand for gold as a result of the arrival of prices to attractive levels, especially by the Indians the biggest consumers of gold in the world.

However, the prices quickly rebounded to and above $ 1,400 an ounce until Thursday, the last trading day in the UAE market before the weekend, but by nine o'clock at night fell spot price of gold below $ 1,400, to be trading at 1393 dollars per ounce.

 

[jeepguy]

i`m waiting for gold to get back to  150  an ounce --- then i will buy      {  folks will say ---- never going to happen ,, like they said gasoline would never go back to 150 a gallon , which it did for about 1 week , and they said the dinar will never hit big which it ,,, well still waiting on this one too   }