The Phaserl


Gold set to shine again in recovery from worst quarterly drop in 113 years

Could there be a ray of light in sight for the goldbugs? Those with a bullish view on the metal have certainly had that faith challenged in recent months.

by Garry White and Emma Rowley, The Telegraph:

Gold posted its worst quarterly performance in more than a century for the three months to the end of July, analysts at Macquarie calculate. Specifically, the metal ended the second quarter of 2013 at $1,192 (£782) an ounce, its lowest since August 2010 and representing a fall of more than 25pc below its level at the start of the quarter.

The slide came as investors increasingly turned to equities, lured by the prospect of a yield and reassured by improving economic data to move away from the “safe haven” metal.

The price move downwards then accelerated as Ben Bernanke, the Federal Reserve chairman, last month set out a timetable for unwinding the US central bank’s vast quantitative-easing (QE) programme — making gold less attractive as an inflation hedge.

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3 comments to Gold set to shine again in recovery from worst quarterly drop in 113 years

  • Frank Zak

    China takes delivery of 170 tonnes of gold a month.

    They are sucking the physical out of the market.

    Why ?

    This will collaspe the over the counter paper market
    and bankrupt the central banks whom are leveraged
    50 to 1.

    Then …. they win the game !!!!!

  • Frank Zak

    Think about it. Most central banks such as
    U.K. and Swiss sold off their gold reserves
    at golds bottom.

    But, gold has skyrocketed since then.

    How can this be ????????

    Who owns this gold now ?

    The Chinese and Russians. And, whom do Chinese
    officials call for advice on gold ?

    GATA !!!!!!!!!!!!!!

  • Frank Zak

    To the CIA operatives at Bank America
    building in San Francisco who read
    this club.

    Please tell Washington and the politicians
    to buy our gold back, before it is to late.

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