The 'Big Long' - Goldman Sachs And HSBC Buy 7.1 To
Post# of 9903
Posted On: 08/13/2015 5:25:48 PM
The 'Big Long' - Goldman Sachs And HSBC Buy 7.1 Tons Of Physical Gold
Aug. 10, 2015 3:40 AM ET
http://seekingalpha.com/article/3421396-the-b...gold?ifp=0
Quote:Summary
- On August 6, 2015, Goldman Sachs, which has issued very bearish forecasts on long-term gold prices, took delivery of a 3.2-ton purchase of physical gold.
- On August 6, 2015, HSBC which also claims to be bearish, took delivery of a 3.9-ton purchase of physical gold.
In both cases, the purchases are registered as being for the benefit of the bank's own house account, rather than the accounts of customers.
Investors should do as the banks do, not as they say.
Aug. 10, 2015 3:40 AM ET
http://seekingalpha.com/article/3421396-the-b...gold?ifp=0
Quote:Summary
- On August 6, 2015, Goldman Sachs, which has issued very bearish forecasts on long-term gold prices, took delivery of a 3.2-ton purchase of physical gold.
- On August 6, 2015, HSBC which also claims to be bearish, took delivery of a 3.9-ton purchase of physical gold.
In both cases, the purchases are registered as being for the benefit of the bank's own house account, rather than the accounts of customers.
Investors should do as the banks do, not as they say.
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