Andreas Maag is Head of Swiss Precious Metals Distribution at UBS Investment Bank, Based on his 30 years of experience in trading gold, he infers why the gold price has retreated below the 1600 level, its possible price formation in the context of the Euro crisis and the geo-political and economic global backdrop...
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Does "sell in May and go away" now also apply to gold (after a 4 month equity bull run are people "indiscriminately" taking profit across the board)?
Is this a good time, and price level to start buying gold again?
What are the factors that have contributed to gold’s price retrenchment below the 1600 level?
Is this of technical significance?
With all the uncertainty shrouding Greece and the Euro, the Euro zone, Iran-Israel led geo-political tensions, why is gold no longer behaving as a "flight to safety" asset class? Is it instead being implemented as a "liquidity provider"?
How do you see its price formation developing over the short terms - scenarios /price targets?
Would you say this is the new normal as far as gold trading is concerned?