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GOLD'S DEATH GREATLY EXAGGERATED

3rd May 2013

By: Darlene Creamer

  

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News agency Reuters accidentally published an advance obituary for gold-shedder George Soros and some analysts were equally hasty in writing off gold itself. As it turns out, news of both of their deaths was greatly exaggerated. A spokesperson declared Soros “alive and well”, Reuters publicly regretted its “error”, and some analysts were forced to eat their words when gold's shorting fizzled out, physical demand for gold grew strongly, exchange-traded funds managed to withstand the price capitulation and shortages of physical gold became “a global phenomenon”.

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