More Paper Metals Bullsh#t: Gold & Silver Slammed After ECB/Basel Committee Comments

[Ed. Note: “Panic selling in the precious metals”… what a load of crap. WHO has the power to “panic” and to sell millions of ounces of silver and gold in a matter of seconds, the retail investor – or the big banks? And again, not a single ounce of any of this “panic selling” is ever physical metal – it’s always PAPER!]

from Zero Hedge:

A combination of ECB minutes showing some members looking for more stimulus and Basel Committee publishing final risk rules which will mean stiffer capital demands from banks has sparked weakness in EUR (sending the USD higher) and sparking and instant slam-down in gold and silver.

o this:

• *ECB ACCOUNTS SHOW SOME MEMBERS ARGUED FOR MORE STIMULUS IN DEC.

Yay – some is better than none! Vague hope.

And this:

• *BASEL COMMITTEE PUBLISHES FINAL BANK MARKET-RISK CAPITAL RULES

Not good news so we are sure it’s implementation will be delayed.

Has sent EURUSD reeling…

Which has sparked panic selling in PMs…

Read More @ ZeroHedge.com