Free Fall
Gold drops like a rock when the commodities crooks figured they had brought enough suckers into the market. But of course there is the excuse that the Assistant Deputy Clerk in the subdivision of the Interior Ministry's daughter sold her Gold Panda. Obviously in today's market that is the reason to sell off billions in gold. To do anything that is based on the commodities market is like taking your home title and putting it on Double Zero.
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Replies to This Discussion
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Permalink Reply by Lureuin on -
Nothing wrong with a little correction. I believe $1,150 is the new bottom (as stated in another thread), and we're still well above it. You'd think the Fed just burned 1 trillion pieces of paper last night by the strengthening of the dollar today.
Don't be surprised if a few countries jump in and buy the gold they've been wanting. Let the dust settle and the ride will get back under way.
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Permalink Reply by Lee Grant on -
Lureuin: You are more comforting than my psycho-therapist. I do recall your $1150 comment, even though Gold was playing around $1200 at that time.
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Permalink Reply by Zyll on -
Just curious, did the gold bull succeed in bucking off anyone here? Panic sell in a fit of emotion?
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Permalink Reply by Lureuin on
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There are a lot of folks selling today. They will come to regret it later next year. At least the unfaithful are getting out of the mix. This might happen again tomorrow. How easily people are fooled by information given out by the same people who got us into this mess baffles me. Nothing has changed, only that jobs losses are less than expected. We only LOST another 11,000 jobs in November. That's a real good reason to believe all is now better. LMAO All of the problems are still in place and can only go away with inflation. A few countries will have discussions tonight about buying in tomorrow morning now that the price has dropped a little.
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Permalink Reply by Lee Grant on
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2:51 p.m. We could lose the $1150 floor. Essentially a $ 70. drop in one day. Never saw this in Gold. Platinum yes, gold no.
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Permalink Reply by Gary on -
i still think after the dust settles Gold will be around the low $900......
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Permalink Reply by Zyll on
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Still less than a 5% drop. The jury is still out.
Lee Grant said:2:51 p.m. We could lose the $1150 floor. Essentially a $ 70. drop in one day. Never saw this in Gold. Platinum yes, gold no.
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Permalink Reply by Ike on -
I canceled my mint order for the gold coins today. I have a few days to re-order @ the same price. I will watch the prices & re-order if gold turns around (goes higher). If not, I hope to buy them @ a lower price.
Zyll said:Just curious, did the gold bull succeed in bucking off anyone here? Panic sell in a fit of emotion?
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Permalink Reply by Indentured Servant on -
Lureuin said:Nothing has changed, only that jobs losses are less than expected. We only LOST another 11,000 jobs in November. That's a real good reason to believe all is now better. LMAO All of the problems are still in place and can only go away with inflation. A few countries will have discussions tonight about buying in tomorrow morning now that the price has dropped a little.
Yep, its like telling a man who's drowning with 20 feet of water over his head that now there's only 4 feet of water over his head.
Bill
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Permalink Reply by Zyll on
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You called it! The price skipped right off your bottom. Good call Lureuin!
Lureuin said:Nothing wrong with a little correction. I believe $1,150 is the new bottom (as stated in another thread), and we're still well above it. You'd think the Fed just burned 1 trillion pieces of paper last night by the strengthening of the dollar today.
Don't be surprised if a few countries jump in and buy the gold they've been wanting. Let the dust settle and the ride will get back under way.
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Permalink Reply by Steve W on -
I get the feeling that gold prices had been on a wild ride for the last few weeks. Perhaps this is a correction to that quick run-up? I would be willing to bet that somebody big did some healthy profit taking. At any rate, I think one would be well advised to hang on and wait for a week or two. Players might want to suspend buying or selling. Somehow I see this as temporary and I am not a "Gold Bug"!
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Permalink Reply by george palmer on
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they look for gold at 1200 dollars they look for it at 1000 and they will look for it at 900 but we all know that people will always look for gold silver and other things that is not a note from big dad because when there is people making money like ice cubes some times you think that a bag is worth 10 bucks but then you think about it and say it is just water and why does it cost so much so too you who want to sell it is a good time because it is high but when you buy agin it might be less or maybe not so much who says that things go up up up then down down down we will see 2010 is only 25 days away like (ARISTOTLE SAYS) quality is not an act it is a habit
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