Quote:
Originally Posted by speculator84
The forex news feeds are trying to pitch that the IMF gold sales are price negative tonight....it's funny the guys who were trading gold in the 70s and 80s say that it only allows big players to enter the market @ a fixed price and puts floor under price!!
1000$ floor?!!! Thanks IMF!
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speculator84, yeah I think that's mainly hype on news feeds. Much of their sales are usually done "off exchange" and will sell to someone that is a huge buyer.
But these sales rarely hold down the price because of this. However, the initial news of it almost always jolts it for a bit. Then the trend resumes.
We'll know shortly how it acts this time around.
Thanks for commenting, speculator.
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