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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

click here to read article


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To: ILS21R
Wow!

Remember when beautiful women could be beautiful without having silicone-enhanced fake boobs?

21 posted on 11/28/2012 6:56:19 AM PST by ArrogantBustard (Western Civilization is Aborting, Buggering, and Contracepting itself out of existence.)
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To: albie

Nothing to see here. king Zeros prosperity machine is plugged in and we are all getting wealthier by the second. The TV told me so.


22 posted on 11/28/2012 6:56:44 AM PST by Gasshog
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To: traditional1
Gold Prices Sink On Improving U.S. Economy

NEW YORK (MarketWatch) — Gold prices on Wednesday fell sharply, extending losses into a third session, on thinking improving U.S. economic reports would lessen demand for the metal as a hedge. The gold futures contract for December delivery fell $27.70, or 1.6%, to $1,714.6 an ounce on the Comex in New York.

23 posted on 11/28/2012 6:57:17 AM PST by blam
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To: traditional1

Everything, in every market, is all being manipulated towards one central goal: Helping Obama to roll the Pubbies in fiscal cliff negotiations.


24 posted on 11/28/2012 6:57:35 AM PST by Buckeye McFrog
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To: blam

Okay, better go get a Powerball ticket, cuz I’ll need that money to buy bread.


25 posted on 11/28/2012 6:58:10 AM PST by Thorliveshere
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To: blam

Let me know when it gets to $234 - $286...Then I’m in trouble...


26 posted on 11/28/2012 6:58:20 AM PST by SuperLuminal (Where is another agitator for republicanism like Sam Adams when we need him?)
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To: blam

A 2% drop isn’t tanking.


27 posted on 11/28/2012 6:59:57 AM PST by mnehring
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To: Buckeye McFrog

Keep the balls in the air and the players in the casino for just a bit longer while we clear out the till...

then, lights out and you’re left with a pile of plastic chips.


28 posted on 11/28/2012 7:00:42 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: blam

Down 1% (even quickly) is now “tanking?”


29 posted on 11/28/2012 7:01:40 AM PST by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: blam

30 posted on 11/28/2012 7:02:12 AM PST by Errant
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To: Red Badger

Mr Ditter ask that question every time he hears a BUY GOLD NOW ad on the radio. If it is so valuable why don’t they keep it?


31 posted on 11/28/2012 7:02:49 AM PST by Ditter
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To: Travis McGee

Gold is going to 5000. Nothing has changed. It is amazing how many people panic every time there is a reaction. They are showing they understand nothing of what is happening in this economy.


32 posted on 11/28/2012 7:03:43 AM PST by GilGil
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To: GilGil
"This was completely predictable. Gold is about to take out 2000 and the bankers are creating a bit of drama."

Exactly. We've seen much larger market movements with one fat-finger trade, followed by program trades reacting, then confusion by the "professionals". If this is "tanking" then what are we going to call the next SHTF market sell-off?

33 posted on 11/28/2012 7:05:52 AM PST by uncommonsense (Conservatives believe what they see; Liberals see what they believe.)
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To: Travis McGee
When it gets below $1000, let me know - I might buy some.

Tank isn't the correct word here, “off a bit” might be more descriptive. All it probably means is that some country with bad credit (like ours) just sold a chunk of gold into the market in return for more fiat money.

Supply, demand, equilibrium.

34 posted on 11/28/2012 7:06:37 AM PST by meyer (Proud member of the 53%.)
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To: Ditter

Well, if I win that Powerball jackpot tonight I might buy some.....


35 posted on 11/28/2012 7:07:34 AM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: GilGil

Another way to look at it is that the dollar is going to go down to 1/5000 oz of gold.


36 posted on 11/28/2012 7:08:28 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: GilGil

True.


37 posted on 11/28/2012 7:08:47 AM PST by SC_Pete
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To: MrB

Gold is the only asset that when it goes up everything else does much worse. Gold going up signals the future is very grim.At 5000 tens of millions of people will be in very, very bad shape.


38 posted on 11/28/2012 7:10:16 AM PST by GilGil
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To: meyer

LONDON, Nov 27 (Reuters) - Gold eased on Tuesday after comments from a Federal Reserve policymaker on monetary stimulus and well-received U.S. data lifted the dollar, but prices held in a range as traders turned their attention to the December Comex options expiry.

The dollar extended gains against a currency basket after October durable goods orders came in unchanged, having earlier recovered from one-month lows after Fed policymaker Richard Fisher voiced concern over easing measures.

Spot gold was down 0.1 percent at $1,746.30 an ounce by 1445 GMT, having earlier touched a session high at $1,751.40. U.S. gold was down $3.40 at $1,746.20.

“A dollar rebound could well depress prices to the 10-day moving average (at $1,731) and then $1,720/$1,700, provided the November uptrend gives in,” VTB Capital analyst Andrey Kryuchenkov said. “Trade will remain very technical in relatively thin volumes and on macro headlines.”

http://news.yahoo.com/precious-gold-dips-u-data-151036241.html


39 posted on 11/28/2012 7:12:39 AM PST by EBH (0bama is guilty of willful neglect of duty.)
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To: GilGil

Exactly. If precious metals are going down, isn’t that supposed to mean the greenback is firming up? And as for dropping oil prices, never look a gift horse in the mouth.


40 posted on 11/28/2012 7:12:45 AM PST by teflon9 (Political campaigns should follow Johnny Mercer's advice--Accentuate the positive.)
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