April 10 - Goldman’s “short” call coincided with it slashing its short- and long-term forecasts for the yellow metal.
April 12 - Gold embarked on its worst two-day plunge since futures first started trading in New York.
April 16 - Gold intra day traded at USD1350/ounce
BUT
April 23 - Goldman Sachs has covered its gold short. (Stop Shorting!) Goldman was telling clients to take profits and move on, even as it expected prices to keep falling throughout the year.
May be it was due to CHINA DA MA??
The recent drop in gold has created a huge surge in Asian gold demand. The feverish buying has left many of Hong Kong’s banks, jewellers and even its gold exchange without enough yellow metal to meet demand. It is happening elsewhere in Asia.
Round 1: China DA MA vs Wall Street (中國大媽 vs 華爾街)
China DA MA Score. 1:0
What is your bet after Round 3? Gold UP or DOWN trend.
