In The News Today
Posted: Jul 02 2010 By: Jim Sinclair Post Edited: July 3, 2010 at 1:40 pm
Filed under: In The News
Thoughts For This Morning
Yesterday’s action in gold was started by a hedge fund that was experiencing a withdrawal of funds, as did most in the last quarter.
They attempted to take a profit and get money out of the market for redemptions by entering a sell for their gold in the cash and paper markets. This morning is margin call city in gold.
The .6 drop in those that have part time jobs in the Jobs Report means an additional 100,000 are out of work. That number was not added into the total.
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