A cascading crash in commodities beginning with silver a week ago spread to oil and copper as exchanges took steps to rein in speculation, economic data pointed to a global selloff and big name investors took profits.
Business Insider published an interesting story today revealing an even more interesting tidbit: George Soros’s hedge fund is dumping gold and silver:
SINGAPORE – Silver and gold were within sight of historic highs on Friday and could resume an uptrend as the U.S. dollar held near three-year lows against a basket of currencies on hopes U.S. monetary policy would stay ultra loose, keeping inflationary price pressures high.
By Frank Tang NEW YORK | Mon Apr 25, 2011 4:58pm EDT (Reuters) – Silver surged as much as 8 percent on Monday before pulling back sharply when a failure to pierce the all time high from 1980 unleashed a wave of technical selling amid record volume in U.S. futures. After briefly dipping into negative [...]
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