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Gold is down $10 today after hitting a record high yesterday. Reuters is out with a report highlighting a drop in China gold and copper imports due to a potential tax change, citing four sources:
This isn’t a negative for the gold market as it’s more about refining and processing, though if there are local shortages in physical gold, it could create some kind of domestic premium that hurts buying until the supply chain is sorted out
This article was written by Adam Button at www.forexlive.com.
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