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North American Energy Partners Inc. Message Board

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  • chemaes44 chemaes44 Sep 14, 2011 10:42 AM Flag

    currency war's

    Goldman Sachs' head gold trader Zak Dhabalia reportedly commented on what happened to gold after swiss announcement:

    The immediate aftermath was in complete contradiction to prior recent episodes of intervention and what anyone would have expected. Instead of spurring a further gold price rally on the basis that it was one of the few remaining safe haven "currencies" we saw a 50 usd collapse in minutes. The source of this flow seems hard to pin down with some speculating over whether "authorities" were concerned about the signals of an accelerating gold price and its impact on other fragile markets.

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