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Gold Tags Last Friday's High and Low In 45 Minutes

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Fri, 09 Sep 11 5:39 PM | 33 view(s)
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Submitted by Tyler Durden on 09/09/2011 - 06:55 European Central Bank Greece

Gold managed to get back to unchanged from last Friday's close and has now last over $50 in the last 45 minutes. Interestingly dropping like a stone to exactly the levels pre-spike on that day. Few rumors of margin calls out of Europe but nothing specific to drive this other than the levels and the opportunity for the QE3-hopers to cover their weak longs from Friday? Or perhaps the rumor that the ECB did not rule out using gold-backing for EuroBonds is off the table now that Greece looks unlikely to meet its necessary debt exchange participation rates?

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http://www.zerohedge.com/news/gold-tags-last-fridays-high-and-low-45-minutes




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