[1]Gold just lost the $1600 handle for the first time since January 5th and is suffering its biggest one-day loss in over two months as Europe's meltdown is driving broad liquidations. Are hungry Chinese central bankers more than happy [4] to soak up the precious metal at a discount from levered longs liquidating into the European fiasco?
[5]
Chart: Bloomberg
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Links:
[1] http://www.zerohedge.com/users/tyler-durden
[2] http://www.zerohedge.com/taxonomy_vtn/term/139
[3] http://www.zerohedge.com/taxonomy_vtn/term/10338
[4] http://www.zerohedge.com/news/uncivilized-china-quietly-building-gold-reserves-gold-imports-hk-soar-587-first-quarter
[5] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2012/05/20120509_gold.png