FSN: Goldman Sachs Reverses Its Gold Position Yet Again and Cyprus Sells Its 13.9 Ton Reserves

(Before It's News)

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

by Peter Cooper
Arabian Money

Spot the conspiracy by the global leaders of the financial community to get behind the Bank of Japan’s QE initiative and keep the gold price in check, while delivering cheaper gold to the central banks who still want to buy it.

After all the news of Cyprus selling 13.9 tons of gold rather pales into insignificance alongside the record 540 tons total in purchases by global central banks last year.

Goldman’s warning

Goldman analysts wrote yesterday: ‘Despite resurgence in euro-area risk aversion and disappointing US economic data, gold prices are unchanged over the past month, highlighting how conviction in holding gold is quickly waning. While higher inflation may be the catalyst for the next gold cycle, this is likely several years away.’

Continue Reading at ArabianMoney.net…

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