As expected, the massive global rout is shifting to the best performing asset: gold, which courtesy of pervasive repo desk margin calls (which are merely trying to preserve capital for their TBTF holding companies) is seeing liquidations to satisfy collateral margin requirements. It will be interesting if the only real dip worth buying will see buyers come out of the woodwork or if gold will proceed to plunge alongside everything else.
Read the full article at ZeroHedge, here:
http://www.zerohedge.com/news/margin-calls-force-start-gold-liquidation
