MattFC Posted June 23, 2008 Report Share Posted June 23, 2008 Talk of forced liquidation in gold helping the dollar Dealers note talk that forced liquidation is underway in the gold market with a hedge fund supposedly being sold out on a margin call. The metal is down $22.50 at $881. Oil has turned down in sympathy. EUR/USD fell into the mid 1.5470s but so far is hanging onto important support around 1.5460/65. Large stops are rumored below that level. Update: Sources attribute rising margin requirements in energy futures are responsible for the sell-off in gold. They are selling gold to meet fresh requirements in oil, in all likelihood. Link to comment Share on other sites More sharing options...
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