Did this article answer that question?
Posted on 09/25/2011 9:12:15 PM PDT by blam
Did this article answer that question?
I don’t play at that level, but I have often wondered how many people who are involved in the buying and selling of gold actually have their hands on the metal involved.
Not too many if this story is any indication.
So what do you get when you buy gold? A fancy piece of paper that says you have gold reserved in your name somewhere in a vault in other state or country?
Riiiiiight!
Not exactly rocket science to think that trading in paper like that, given the perilous state of the economy the world over, is a very dumb idea.
This can’t be right, G Gordon Liddy and Glen Beck are still pushing hard.
Look what happened in late 2008 when markets in general were tanking. Gold went down for the same reasons it is going down now. However, afterwards the fundamentals took over and fiat currencies continued their long term slide against a real store of value: gold.
5 year history of gold prices:
http://www.kitco.com/charts/popup/au1825nyb.html
F&A will be the best investment if the economy completely fails. Food & Ammo
Call me a skeptic, but if I did own gold I would like to have the genuine article in a safe place. And that is the problem...where would that be!
I am most concerned by copper and the base metals. This shows a big component is pessimism over the economy for the short term. Gold amd silver will not bounse back easily from this one.
During 18 of the last 22 years, gold has rallied between US Labor Day and Christmas. Will the pattern this year follow the historical pattern? We will analyze the fundamentals, look at some charts and try to draw a conclusion. The charts in this report are courtesy Stockcharts.com unless indicated.
A real QE3 is around the corner. Then, Gold will take off.
You remember when we started talking about this. I think Gold was at about 450. Let any real-estate weasel in the world come in on this.
I’ll take reason #5, Alex.
There was lots of panic-buying and it drove up the price. The price is falling now only because people are erroneously questioning their panic. The sky hasn’t fallen. Yet.
Buy, buy, buy.
Ping
Lancey, I don’t know ya but you seem to be good guy. I think it is getting high and a turn is looking us square in the face. Unless it drops below 350 I am OK. For all of you speculators, be careful.
On the bright side, if it keeps this up, we won’t have to worry about confiscation! ;)
What Are Copper And Oil Signaling?
Copper and oil both appear to be warning the markets that a global slowdown is underway. Equities are also signaling this as the Dow (NYSE:DIA) just finished 6.4% down this week, its worst week since October 2008. Furthermore, copper and oil are signaling that investors have lost confidence in the Federal Reserve’s ability to stimulate the economy through Operation Twist.
Whew! I wasn't looking forward to that blood-bath.
Agreed. And whether it’s gold or anything else, never go “all in”. Personally, I find guns and rifles to be excellent investments that hold their value. And always, a patch of fertile land makes sense.
You are not allowed to pull the curtain, the great wizard will see you when he feels it necessary.
Gold is still in a bull market. If you study the price and volume action of gold from a technical analysis standpoint, this short term correction was very predictable.
The speculators have been flushed out and gold will resume it’s rise. Nothing goes straight up.
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