Big-scale investors together with central banks are reported to purchase gold heavily. They probably anticipate a new era in financial markets. The forthcoming events may seriously change the global financial system as we know it. Financial tycoons’ behavior (they are believed to be insiders) is currently viewed by others as the birth of a new trend.
George Soros is selling out his holdings of Citigroup, JP Morgan and Goldman Sachs, simultaneously increasing its holdings of SPDR Gold Trust. John Paulson, another famous investor and billionaire, has already invested 44% of his capital in gold assets (over $24bn).
The World Gold Council (WGC) reports that central banks from around the globe purchased 157.5 metric tons of gold in Q2 2012. This is a 62.9% increase as opposed to Q1 2012.
Forex.
The chart below, courtesy of , reflects the current state of affairs in the market of the US Dollar index.
The price is fluctuating within the 82,07-82,96 range created by wave A/B of level Daily. On breaking and consolidating above82,96, we will see a change of trend. The closest level of support are 82,26 and 82,07. A break below them will resume the downtrend.
