Gold – Gone in 60 Seconds
First the good news; the gold price bounced on Thursday morning as the US$ weakened slightly. Now the bad – it still leaves the metal just off five-year lows and still smarting from its largest percentage sell off of 4% in the space of a minute early on Monday, July 20th when bullion to the value of $500 million was sold in a flash during Asian trading hours. Large sections of the market are piling on the pressure and forecasting/guessing/hoping that the price this year will fall below $1,000 an ounce at some point during 2015. (On Thursday evening in London, gold was trading at $1,093.5 an ounce).…