The gold market fell this week, closing today at $893.80 an ounce. The reason for this drop was that the International Monetary Fund (IMF) plans to sell 403 tons of gold in an effort to support the world’s poorest countries. A sale of this size will undoubtedly make an impact in the gold market, unless it is implemented gradually over time. Investors, seeing this as a possibility, sold their holdings to get out of the market before it drops. This in turn caused gold to fall this week.

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Tags: Gold Investing

This entry was posted on Friday, April 3rd, 2009 at 10:28 pm and is filed under Paper Trading Gold. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.