Q: Do you think gold's fall on friday has anything to do with Cyprus saying they want to sell some of their 14 tonnes of gold?
If so, what do you think would happen to the price of gold if other countries with high sovereign debt decide to follow in Cyprus' footsteps and sell some of their gold reserves, like Portugal (382 tonnes) or Italy (2451 tonnes). Is this a viable option for these countries?
If so, what do you think would happen to the price of gold if other countries with high sovereign debt decide to follow in Cyprus' footsteps and sell some of their gold reserves, like Portugal (382 tonnes) or Italy (2451 tonnes). Is this a viable option for these countries?