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Precious Metals: Massive Paper Selling Begets Unprecedented Physical Buying
Sunday, April 21, 2013 22:34
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Massive selling of leveraged long futures positions in gold and silver markets on Monday sent prices tumbling after the first wave of selling on the Friday before as precious metals saw their steepest two-day decline in more than three decades. Over just these two trading days, the gold price fell more than 15 percent, while silver tumbled nearly 20 percent amid more talk of market manipulation as ETF investors continued to exit positions.
