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Apr 15, 2013
Commodities Brief: Gold & Silver resume the pounding
Following past Wednesday's Goldman Sachs sell call for Gold when was around the $1590 mark and Reuters reporting via IMF sources Cyprus was to sell $400M worth of Gold reserves, later on denied by Cyprus central bank, the precious metal is now a generous $100+ lower, last at $1451 fresh lows, lowest in 2 years. Friday alone, Gold closed down -5% in New York, single day worst decline since Sept 2011. As these lines are written, the precious metal is down -2.2% so far for the session.
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