GOooooooooLD!!!!!

ChesusRice said:
THE price of gold is slumping below $US1,200 an ounce, the lowest in more than three years, after the US Federal Reserve pulled back on its stimulus program. Gold plunged $US41.40, or 3.4 per cent, to $US1,193.60 an ounce on Thursday.
It hadn't closed below $US1,200 an ounce since August 2010.
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I'd blame it on Obama too.
Just print more meaningless money to piss away.
 
What piece of currency should we put Obama ' s face on?

Should we haul a 500 ton lump of coal to mt. Rushmore and put his face on it?
 
FYI: gold dropping is good. Means investors feel more secure. Gold is a 'terror' purchase in my books. Late '70's saw gold near $900.
Also, every developed country has been printing$/devaluing their currency. Currency wars always occur when trade slumps. It's no holds barred out there in int'l trade/exports. My .02

NaN: obama will go down as a much better prez in history than Bush2 (a disaster who never financed 2 foreign wars and left the US with a massive debt). His skin colour is irrelevant (or should be). Personally, I find him very likeable though i disagree with drones,etc. Clinton is, without a doubt, one of the smartest people I've ever heard speak. His knowledge and insight is simply stunning. Reagan: crafty but vacous. GB1: put in his time in govt but had no ideas. GB2: retard son (a puppet). Nixon: very shrewd but no morals. i could go on but you"ll probably feel inferior NaN (as you should).
 
killemsoftly said:
FYI: gold dropping is good. Means investors feel more secure. Gold is a 'terror' purchase in my books. Late '70's saw gold near $900.
Also, every developed country has been printing$/devaluing their currency. Currency wars always occur when trade slumps. It's no holds barred out there in int'l trade/exports. My .02

NaN: obama will go down as a much better prez in history than Bush2 (a disaster who never financed 2 foreign wars and left the US with a massive debt). His skin colour is irrelevant (or should be). Personally, I find him very likeable though i disagree with drones,etc. Clinton is, without a doubt, one of the smartest people I've ever heard speak. His knowledge and insight is simply stunning. Reagan: crafty but vacous. GB1: put in his time in govt but had no ideas. GB2: retard son (a puppet). Nixon: very shrewd but no morals. i could go on but you"ll probably feel inferior NaN (as you should).
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I like when gold drops cos it means I can sell short and buy physical.

Plus, it'll only dip/go sideways until the shit hits the fan again.
 
Harrekin said:
I like when gold drops cos it means I can sell short and buy physical.

Plus, it'll only dip/go sideways until the shit hits the fan again.
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Quite right. When Wall street fucks america again (they will as Dodd-Frank has no teeth), gold will spike again. Buying gold over the next 5-10 years would be a very wise choice (only when it dips of course).
 
The funniest aspect of this hard drop in price can be related directly to the Chinese stock market being propped up by their government.

Have you followed the Chinese market at all? They recently had a crash in stock prices which resulted in the government making it illegal to sell large amounts of stock.

The result is the Chinese dumping commodities like Gold contracts. The dip this morning was right at the open of the Chinese market.

Gold may go lower than it is now, but if it does their will be shortages in physical Gold. Which kinda throws everyone for a loop cause these paper contracts control the market price, but have no influence on the amount of physical gold for investment.
 
Balzac89 said:
The funniest aspect of this hard drop in price can be related directly to the Chinese stock market being propped up by their government.

Have you followed the Chinese market at all? They recently had a crash in stock prices which resulted in the government making it illegal to sell large amounts of stock.

The result is the Chinese dumping commodities like Gold contracts. The dip this morning was right at the open of the Chinese market.
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While the Zhong Guo connection is without doubt, I wouldn't be too concerned about supplies. I suspect you're being over-optimistic about response to physical versus paper. People who "trade" it don't give a shit about holding it in their hands.
Right now I'm watching that stellar collapse of JNUG and thinking about timing a bounce trade. ;-)
 
I know that the "real" investors never take physical delivery. I'm talking Chinese physical investors will be eating up supply with the price drops.
 
Balzac89 said:
I know that the "real" investors never take physical delivery. I'm talking Chinese physical investors will be eating up supply with the price drops.
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That is rather optimistic. I see no evidence to suggest that, however. Especially with the Politburo stepping in as the A-shares Plunge Protection Team 2015 :mrgreen: Have you seen the recent stats on who the average Chinese investor is? I was quite surprised to find some 3/4ths of the newest entrants into the world of equity trading don't even have a high school education!
These are the people you think are going to snap-up all that "surplus"? No...I'm quite certain that won't be the case.
 
heckler73 said:
That is rather optimistic. I see no evidence to suggest that, however. Especially with the Politburo stepping in as the A-shares Plunge Protection Team 2015 :mrgreen: Have you seen the recent stats on who the average Chinese investor is? I was quite surprised to find some 3/4ths of the newest entrants into the world of equity trading don't even have a high school education!
These are the people you think are going to snap-up all that "surplus"? No...I'm quite certain that won't be the case.
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You are correct, the trading of equities is a world apart from taking physical possession of purchased gold.
And so it goes...
 
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