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Gold Just Tanked, Silver Tanked, And Oil Is Sliding
TBI ^ | 11-28-2012 | Joe Weisenthal

Posted on 11/28/2012 6:39:45 AM PST by blam

UPDATE: Gold Just Tanked, Silver Tanked, And Oil Is Sliding

Joe Weisenthal
November 28, 2012

It's unclear what just happened, but as US trading cranks to life, commodities have dumped.

Gold just dropped about $15/oz in a couple of seconds.

Kitco

And here's Silver:

And oil is fading.


(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events
KEYWORDS: bho44; commodities; globaleconomy; gold; markets; silver
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People posing holding onto aircraft propellers. Makes my skin crawl.


41 posted on 11/28/2012 7:13:47 AM PST by pabianice (washington, dc ..)
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To: blam
The rich ones are adjusting their wealth because they don't see what they want about Obamas financial cliff.
42 posted on 11/28/2012 7:13:55 AM PST by mountainlion (Live well for those that did not make it back.)
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To: Red Badger

Oh my gosh! Thanks for the reminder that is part of the stuff on my To Do List today. (buy winning lotto buy winning lotto buy winning lotto! :)


43 posted on 11/28/2012 7:14:46 AM PST by Ditter
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To: blam

PRECIOUS-Gold down for week on recession, fiscal crisis fears
http://www.reuters.com/article/2012/11/16/markets-precious-idUSL5E8MGBEA20121116

Looks like this has been brewing for awhile....


44 posted on 11/28/2012 7:15:11 AM PST by EBH (0bama is guilty of willful neglect of duty.)
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To: blam

And so it begins.


45 posted on 11/28/2012 7:16:19 AM PST by NeoCaveman (SMOD 2012)
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To: blam

Why would our budget talks cause gold to drop?

Gold fell more than 2 per cent, its largest decline in three weeks, on the back of a strengthening dollar and amid worries about the US budget talks.http://www.ft.com/cms/s/0/35f5d62e-3962-11e2-8881-00144feabdc0.html#axzz2DWwmy3l3

Insider’s deal already struck?


46 posted on 11/28/2012 7:18:01 AM PST by EBH (0bama is guilty of willful neglect of duty.)
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To: teflon9

First off this is not really gold going down. This is an anticipated reaction in an uptrend and totally predictable. Oil going down is quite another matter. It should not be going down with the dollar going down as well. It implies that the consumption of gasoline is going down with the dollar going down which signal a major, major slow down in the economy. Disaster dead ahead.


47 posted on 11/28/2012 7:19:04 AM PST by GilGil
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To: blam

Something (financially) blew up?


48 posted on 11/28/2012 7:19:20 AM PST by PghBaldy (Pete Hoekstra RE: Petraeus scandal - "There's more here than meets the eye.")
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To: traditional1
Soros.....

Beat me to it.

49 posted on 11/28/2012 7:22:57 AM PST by bgill (We've passed the point of no return. Welcome to Al Amerika.)
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To: ILS21R

Ahhh....Pussy Galore....truly.


50 posted on 11/28/2012 7:31:51 AM PST by Lee'sGhost (Johnny Rico picked the wrong girl!)
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To: pabianice

Yup, first thing that came to mind was that fashion model who recently walked into the prop of a small plane.


51 posted on 11/28/2012 7:32:08 AM PST by Bobalu (It is not obama we are fighting, it is the media.)
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To: driftdiver
so what's that mean?

Recession with deflation on the way???

Some big holders needed to cash in all at once???

52 posted on 11/28/2012 7:36:22 AM PST by xzins (Retired Army Chaplain and Proud of It! True supporters of our troops pray for their victory!)
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To: blam

Stronger dollar, for some reason?


53 posted on 11/28/2012 7:40:34 AM PST by Theo (May Christ be exalted above all.)
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To: blam

Didn’t BP just lose all US contracts (suspended) due to the overreaching EPA slapping the shackles on them? Heard it on the news just now.


54 posted on 11/28/2012 7:43:55 AM PST by AbolishCSEU (Percentage of Income in CS is inversely proportionate to Mother's parenting of children)
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To: blam

All these commodities are ridiculously overpriced. By at least 30%.


55 posted on 11/28/2012 7:44:15 AM PST by montag813
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To: blam

Stock markets being manipulated?


56 posted on 11/28/2012 7:44:17 AM PST by Darksheare (Try my coffee, first one's free.....)
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To: driftdiver

Argentina downgraded and defaulting ??


57 posted on 11/28/2012 7:47:12 AM PST by edcoil (It is not over until I win.)
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To: Darksheare
No, buyers were manipulated. Right here on FR.

By pump-and-dumpers like this:

Kerry Lutz and David Banister--Gold and Silver are Screaming Buys!

58 posted on 11/28/2012 7:49:22 AM PST by Larry Lucido
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To: Red Badger; SierraWasp; stephenjohnbanker

“I’ve always wondered, “If GOLD is such a great investment, why are they trying to sell me some for paper money?”.............”

Two years ago, we were visiting our grandkids, and they let me watch Fox Business, during the hour after closing. There were tv ads after ad pushing gold as our $ was so worthless.

Our 11 year old, going on 31 grand daughter asked, “Papa, how do you pay for Gold if our dollar is so weak and bad?”

I told her that the gold sellers sold their gold for $’s.

Her reply, “That makes no sense?”

Then, she added, “Why would they sell their valuable gold for worthless dollars?”

I told her I didn’t know. Later at, our home, I put a stop loss of 5% on our GLD etfs. That was a good move.


59 posted on 11/28/2012 7:50:31 AM PST by Grampa Dave (Tagline space for rent to pay for some of my extra taxes the next 4 years!)
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To: blam

Dingy Harry Reid must have popped off again, as he did yesterday. The man is a walking financial collapse.
Thanks, you voting cretins in NV.


60 posted on 11/28/2012 7:51:38 AM PST by txrefugee
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