Comments on Zero Hedge are cheap entertainment — then occasionally someone hits the nail on the head:
Lets not forget who has been loading up on gold recently – the hedge funds. As they come off a horrible May and probably continue to bleed – getting blown out on all kinds of credit, equity and currency trades – they will have to liquidate – including gold. Then GLD will be forced to sell sell sell its huge hoard of gold cheap – to somebody ( China?).
So US happy – no more Euro – king of the hill. China gets a bit of action too – gets to buy gold cheap . Everybody happy.