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Gold Is Having Its Worst Day Since The Day Of The Taper
BI ^ | 4-15-2014 | Joe Weisenthal

Posted on 04/15/2014 5:48:07 AM PDT by blam

Gold Is Having Its Worst Day Since The Day Of The Taper

Joe Weisenthal
April 15, 2014, 8:30 AM

Gold is getting smoked today. Worst day since December, when the taper was first announced.


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


TOPICS: News/Current Events
KEYWORDS: copper; gold; investing; silver; silvercommodities
(FYI)Today is the first anniversary of the Boston Marathon bombing.
1 posted on 04/15/2014 5:48:07 AM PDT by blam
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To: Jet Jaguar; Diana in Wisconsin

2 posted on 04/15/2014 5:49:37 AM PDT by blam
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To: blam

Wish gold would drop below $1K/oz. I’m definitely interested, but not at those prices.


3 posted on 04/15/2014 5:51:32 AM PDT by rarestia (It's time to water the Tree of Liberty.)
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To: blam
Dr Copper


4 posted on 04/15/2014 5:52:57 AM PDT by blam
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To: blam

Not to worry, no FReeper has never lost money speculating in precious metals...........just ask them.


5 posted on 04/15/2014 5:53:21 AM PDT by Graybeard58 (God is not the author of confusion. 1 Cor 13: 33)
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To: Graybeard58

never - I meant ever.


6 posted on 04/15/2014 5:54:31 AM PDT by Graybeard58 (God is not the author of confusion. 1 Cor 13: 33)
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To: rarestia

Never try to catch a falling knife.


7 posted on 04/15/2014 5:54:48 AM PDT by Mouton (The insurrection laws perpetuate what we have for a government now.)
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To: blam

Last year about this time was pretty bad for metals too as was the year before that if I remember right. what’s the saying, “sell in May and walk away”. Looks like May is coming early this year.


8 posted on 04/15/2014 5:56:57 AM PDT by RC one (Militarized law enforcement is just a nice way of saying martial law enforcement.)
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To: Graybeard58

You don’t officially ‘lose’ unless you actually divest yourself of it at a price lower than you paid for it. So there is always the ever optimist out there saying it’s a good deal. Buy it now, or then, or when it’s at it’s highest because ‘analysts’ say it’s gonna hit $3000/oz.

Frankly, I’ve invested my cash in other things. Steel, copper, lead brass, etc. Under some circumstances this could be worth much more than gold.


9 posted on 04/15/2014 5:58:31 AM PDT by Gaffer (Comprehensive Immigration Reform is just another name for Comprehensive Capitulation)
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To: rarestia

What I find interesting is the history ratio of value between gold and silver.

You can use present ratios to determine whether one or the other is the best buy at any time.

IIRC, silver has been the best buy for quite some time.

Now, factor platinum into the mix, and you’ll see that gold is way overvalued.


10 posted on 04/15/2014 5:58:41 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: Graybeard58
Not to worry, no FReeper has never lost money speculating in precious metals...........just ask them.

Don't know what time it is in the Congo.

But you are pouring a little curdled cream into some morning coffees over here.

lol

11 posted on 04/15/2014 6:00:37 AM PDT by Fightin Whitey
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To: blam
CORE INFLATION UNEXPECTEDLY RISES
12 posted on 04/15/2014 6:00:37 AM PDT by blam
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To: Graybeard58

Speculation is one of the chancier games a human being can engage in, outside of Russian Roulette, and for the same reason - eventually you WILL hit the live cartridge in the revolving chamber.

Actually speculation with the expectation of coming out ahead is more like playing Russian Roulette with a Glock .45ACP. With a full clip.

If you buy, buy to hold, and keep in mind, it is for doomsday purposes only. An ounce of gold or a handful of diamonds will barter for a lot, and it is absolutely fungible.

Otherwise, gold is just ornamentation.


13 posted on 04/15/2014 6:05:14 AM PDT by alloysteel (Selective and willful ignorance spells doom, to both victim and perpetrator - mostly the perp.)
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To: Graybeard58

Not to worry, no FReeper has never lost money speculating in precious metals...........just ask them.


I haven’t, but it is because I’ve never actually sold any. ;-)


14 posted on 04/15/2014 6:13:01 AM PDT by cuban leaf
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To: blam

Gold, like the temperature, goes up and it goes down. Attempts to explain why have proven futile in the past, and will continue to do so in the future.


15 posted on 04/15/2014 6:13:17 AM PDT by I want the USA back (Media: completely irresponsible traitors. Complicit in the destruction of our country.)
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To: Gaffer
The only “costly” metal I ever bought was silver, not for it's intrinsic value but as an amateur numismatist. 30 or 40 years ago, I couldn't afford gold coins anyway but I have a good size collection of silver and copper coins, I quit tracking their value a long time ago as I will never sell them, eventually they will go to my kids and they can sell or keep them.
16 posted on 04/15/2014 6:14:11 AM PDT by Graybeard58 (God is not the author of confusion. 1 Cor 13: 33)
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To: MrB

PM for me is junk silver. Always has been. I don’t mess with gold, especially with the gold plated tungsten out there. And in a SHTF scenario, the silver is in lower value pieces.


17 posted on 04/15/2014 6:14:37 AM PDT by cuban leaf
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To: alloysteel

If you buy, buy to hold, and keep in mind, it is for doomsday purposes only.


Exactly. It’s my take on it. Any other reason is basically “gambling”.

I don’t gamble.


18 posted on 04/15/2014 6:15:48 AM PDT by cuban leaf
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To: Graybeard58

I took the tack that tells me there is a good potential where a single 22LR round will spend like a quarter, half-dollar, dollar depending on the situation.


19 posted on 04/15/2014 6:16:59 AM PDT by Gaffer (Comprehensive Immigration Reform is just another name for Comprehensive Capitulation)
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To: Graybeard58

You are right although I think you were trying to be facetious. Gold is “real” money. An ounce of gold is always worth an ounce of gold. The same can not be said for the Federal Reserve Note.(And I own no precious metals by the way.)


20 posted on 04/15/2014 6:17:31 AM PDT by cdpap
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To: Fightin Whitey

Drop in AU price = 2.27%.

Some Doomsday indicator.


21 posted on 04/15/2014 6:17:43 AM PDT by GladesGuru (Islam Delenda Est - because of what Islam is and because of what Muslims do.)
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To: GladesGuru

Well, that’s a good point.

See the same thing in the stock markets where I have nothing at stake.

Dow drops one or (WOW!) two percent and it’s portrayed as Atlas’s last shrug.

Me, I’m thinking a good thirty percent “adjustment” would bring at least a whiff of reality to the floor.


22 posted on 04/15/2014 6:32:51 AM PDT by Fightin Whitey
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To: blam

A mere flesh wound! :)


23 posted on 04/15/2014 6:33:12 AM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: cdpap

“Alas Babylon” author Pat Frank wrote a post-nuclear war survival manual in 1962. He saw boxes & bricks of .22 lr ammo becoming barter currency but he also wrote,

“The day may come when a pound of tobacco is worth more than a pound of gold.”

I agree with whoever posted that right now is a good time to acquire junk silver. But it just occurred to me that when Pat Frank wrote his survival book, most U.S. coinage was still solid 900 silver and a silver dollar was worth exactly one dollar and most greenbacks were silver certificates.

That 1962 book is expensive & scarcer than hens’ teeth since there was only one edition. Anyone out there know if Pat Frank favored hoarding silver coinage?

Silver is only nineteen bucks & some change right now, BTW.


24 posted on 04/15/2014 6:35:39 AM PDT by elcid1970
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To: blam

Thanks to the BIS for the price dip. I will look at buying another 0.5 Kg of silver later today.

Real money just got cheaper. So not complaining.


25 posted on 04/15/2014 6:47:43 AM PDT by agere_contra (I once saw a movie where only the police and military had guns. It was called 'Schindler's List'.)
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To: Gaffer
You don’t officially ‘lose’ unless you actually divest yourself of it at a price lower than you paid for it.

Implicit to this statement (because you use the word "price") is that you are using some currency (almost certainly the dollar) as your frame of reference for assessing value.

However, dollars can be (and are being) printed arbitrarily. It's the value of the dollar that varies, an oz of gold, however, it always an oz of gold.

I'm not being critical of your thought process here (I had that same thought process for 95% of my own life), I'm just pointing out that there is another perspective that can make a lot of sense if you ponder it a bit.

26 posted on 04/15/2014 6:47:49 AM PDT by The Duke ("Forgiveness is between them and God, it's my job to arrange the meeting.")
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To: The Duke

I realize all that. But owning and holding gold is pointless unless you are prepared to defend it. Even if you divest of it in times not strife ridden, your government will find a way to screw you out of the value added you have gained. This is implicit to the new PPACA ancillary laws and regulations - Reporting Gold sales, specifically.

If you want to speculate on it, there are plenty of fools out there willing to buy it thinking it will be a better investment that other intrinsically valuable things. I’m not saying it isn’t a good scheme if you know how to work it and don’t depend on it as a SHTF option.


27 posted on 04/15/2014 6:57:52 AM PDT by Gaffer (Comprehensive Immigration Reform is just another name for Comprehensive Capitulation)
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To: cuban leaf

Here’s a BWH article on “junk” silver:
http://www.backwoodshome.com/articles2/silveira131.html

I was looking for the more recent one about counterfeit junk silver coins but couldn’t find it.

Be on the lookout.


28 posted on 04/15/2014 7:01:17 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: Diana in Wisconsin
"A mere flesh wound! :)"

LOL. I love that attitude!

29 posted on 04/15/2014 10:37:15 AM PDT by blam
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To: blam

Love to pick up a little gold right now. I can afford zinc.


30 posted on 04/15/2014 10:39:47 AM PDT by Billthedrill
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To: cuban leaf; Kartographer; Diana in Wisconsin
Spanish-Style Riots Coming To A Country Near You
31 posted on 04/15/2014 10:40:24 AM PDT by blam
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To: Graybeard58
Not to worry, no FReeper has never lost money speculating in precious metals....just ask them.

I took a $20K annuity, cashed it out and bought gold when it was $1600/oz. The taxes on the annuity, the income kicked me into a higher tax bracket, and the loss of value in gold made this trick a costly one. At least I have some gold to look at....cost a lot just to have it.

32 posted on 04/15/2014 10:54:47 AM PDT by vetvetdoug
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To: blam; All

If I freaked out at every dip in gold and silver over the past 14 years that I’ve been in this game...I shouldn’t be IN this game!

I’ve been buying/selling Commodities since I was a teenager; back in the day when you had to use a newspaper and a telephone (that was attached to the kitchen wall!) to place your orders.

Commodities are not for the faint of heart. :)


33 posted on 04/15/2014 11:29:06 AM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: Gaffer

I’m not familiar with the PPACA ancillary laws ... this sounds nasty. Got any reference links?


34 posted on 04/15/2014 3:01:39 PM PDT by The Duke ("Forgiveness is between them and God, it's my job to arrange the meeting.")
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To: The Duke

They’re all buried in that couple thousand pages nobody read. Property transfer fees, reporting gold sales, medical device taxes. Etc. I guess I should have said hidden vs ancillary. Sorry.


35 posted on 04/15/2014 3:27:20 PM PDT by Gaffer (Comprehensive Immigration Reform is just another name for Comprehensive Capitulation)
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To: blam; jiggyboy; PA Engineer; TigerLikesRooster; Cheap_Hessian; CJinVA; Jet Jaguar; ...

Goldbug ping.


36 posted on 04/15/2014 6:33:37 PM PDT by Jet Jaguar (Resist in place.)
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To: Gaffer

Well, I guess the only way to get ahead in this world is to run for Congress then. They may rue the day they flushed me out of the business world!


37 posted on 04/15/2014 8:27:44 PM PDT by The Duke ("Forgiveness is between them and God, it's my job to arrange the meeting.")
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