Abney Associates Advise Clients on Gold Rally
Gold bullion’s rally continues with many analysts now hinting that it may continue well through December and into the New Year. Asian markets in particular have seen demand for gold bullion surge as investors scramble for the commodity. In the second quarter, this year China and India have led the rush with demand soaring 87 percent and 71 percent for both countries respectively. It has been a turbulent year for Gold as mostly American speculators rushed to offload ETPs on the commodity causing prices to drop nearly 19 percent in the first half. The largest of these selloffs by John Paulson & Co., reduced their stake in SPDR Gold trust by 11.6 million shares or just over 50 percent of their total holdings. This move seems more and more a rash decision by the Billionaire.
Published Thursday, September 05, 2013 by Rick Abney
2 pages