Ted Kempf Quotations

There is no doubt that the market moved based on this rumor. The whole market is talking about this.

If it was a huge one, we would have seen it - they would have had to buy it through several houses. If you're going to sell a large position of gold, people would see you coming and that can hurt you.

The weakness in Asian currencies is dampening demand for gold in the region that is traditionally the biggest consumer of gold. Equities may need to fall much further before investors in the developed world start diversifying into gold.

There was no real news out there. This was mainly technical selling.