With china as one of the biggest buyer of gold, the market plunged yesterday. In relation with the instability in the EU, how low is the low?
As an FXCM, I got this sent to me by e.mail today, which gives a flavour of market expectation around the significance of the Greece situation:
Hey Pipmehappy, thank you for sharing that news, its surely is something that FXCM warns you upon the greece situation. The other day, I found this article; describing the key risks events of the Greece case. Very great source of info for the upocoming events.
Timeline: Greece vs. Eurozone, what next? - AtoZ ForexAtoZ Forex
For what exactly? This could apply to a range of assets.
Back to the thread topic, @TheLastBear, I mentioned how low the gold prices would plunge after the Lunar New year celebration of the Chinese and other asian countries who celebrates it on that particular days. Lunar New Year Gold and Silver Free Fall | AtoZ
At the kick off it already fall down to 1,197, especially during that time the Greece’s case was high profile. However Gold crawled back to the 1,210 level. 