Last week everyone was cheering as gold and other commodity markets were making new highs. This week however, things have changed as everyone seemed to want to jump through the same door, at the same time, putting a great deal of downside pressure on many markets.
This phenomenon sometimes happens when people have multiple positions in multiple markets in the same direction. When they start to take profits, there is no one left to buy.Adam Hewison, commodities, gold, precious metal
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