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 ...
Housing data and Fed Gov comments show economy in picking up. More “1%” cash will go back into real estate, and gold will probably drop much further until Dec 31st, and people will want to take cap gains profits before the coming Obama/Boehner tax hikes.
Housing data and Fed Gov comments show economy is picking up - hitting gold. More “1%” cash will go back into real estate, and gold will probably drop much further until Dec 31st, and people will want to take cap gains profits before the coming Obama/Boehner tax hikes.
I must be dreaming...
Why are they selling gold?
Because they invested in it, and now want to reap the profits and enjoy life now.
Because purchases are made with cash, not gold, in general society.
Because cash is a fine investment for the very short term.
Because gold is great for maintaining wealth thru a crisis, but not so much during or preparing for that crisis.
Because you can’t eat gold, drive gold, or heat your house with gold.
Because they’re not selling all of it, just what they need to live on in comfort.
Did the idiots on Gold Rush finally make a really big strike?
Or to be more precise, the USD is sliding down to where you'll need 5,000 of them to buy an ounce of gold. SGD or HKD, for example, probably won't slide so far.
Profit..........
.
Perhaps there’s a mixture of both going on.
1/5000, you got that right.
Gold never “goes” anywhere, its inert.
I was a trader at the CBOT for years. The conspiracy theories on this thread are silly and unworthy of FR. Sometimes markets just move.....that’s it. No real ryme or reason. Probably a couple of funds started taking profits and are squeezing out the weak longs. Nothing to see here. Now if gold was down $200.00....
Glad someone remembers. It’s not that the value of gold is going up, it’s that the value of the dollar is going down.
There is some “supply and demand” factor to it,
but, for the most part, it’s an indicator of the value of the dollar, in inverse terms.
$30 isn’t worth mentioning - about the “premium” or retail markup of one coin.
And this is just the flailing of a rigged futures markup. For that matter, it will go right back up for a week.
NOW IS THE TIME TO BUY, BUY, BUY!!!.. CARPE DIEM!!!!
It is not a big deal. Go to this website and read the message boards. http://www.kitco.com/charts/livegold.html is a great website. You can find a gold stock like KGC and put a little money from your IRA into it. When it goes up 5-10% sell it and wait for it to drop, repeat as desired. I made a nice chunk of money doing this the past few months with that particular stock and a USAA mutual fund geared to mining stocks. I cashed out and bought natural gas stocks. Timing is everything.
Kinda like a clairvoyant who never wins the Lottery.
Can anyone come up with “WHY”?
Or mining company stocks like AUY or AUMN are good.. Affordable.
nothing
until you can name ANYTHING being done that will strengthen the dollar, non-dilutable commodities will continue to increase in value
it’s that simple
any dips are temporary/manipulation
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