Traders report a big fund is liquidating a big gold position.
One wonders whether it is John Paulson, the guy who made billions by betting on the housing bubble. He had amassed a huge gold position but recently suffered a high-profile setback when an investment in Sino-Forest went sour.
Often times in the fund management game, winners are sold to make up for losers in other markets….
Pure speculation on my part…
Gold touched the 55 day moving average at $1515 before steadying.
