Gold and Silver prices experienced another waterfall decline in Hong Kong and Sydney trading this morning after a positive start to the session. Rumours abound of managed money selling out client positions without regard to price. Of course this selling is all paper based, either ETFs or future contracts, there has been no sign of physical selling of gold and silver. As we near the end of Asian trading hours the price has stabilised and increased slightly. All eyes now are watching for the open in London and especially New York to determine the direction prices will take over the next 24 hours.
ABC Bullion has had very busy trading day with almost all clients seeing today as a spectacular buying opportunity. Of the dozens of clients I served today not one was selling, all where loading up on physical gold and silver bars.
