Gold Tumbles Again: Is the Era of Gold Over?

http://finance.yahoo.com/blogs/daily-ticker/gold-loses-another-6-monday-era-gold-over-123319133.html

Bob itry to buy gold and silver and they won't sell it to me at the current spot value plus a normal mark up. There is very little physical left to buy anyway. This is just a paper gold distraction nothing more. I expected this a few days before a stock market crash which I predict will be down to 8000 or worse so I will stay in gold and lead

T,

You may be right, but corporate profits are at an all time high, agricultural output is at an all time high, energy production is at an all time high, our balance of trade is improving, and there is a real down side to gold pricing which has been clearly shown in historical charts. Simply said.......we are not crashing, what we are experiencing is the improved productivity of this last recession has not had a recovery which involved jobs. We have been outsourced. However, with all our flaws, most middle class and upper middle class folks around the world still find the dollar to be the last safe harbor in a crisis.....not gold, and when that realization hits......Katie bar the door.

Countries are setting up new mediums of exchange including gold to cut out the dollar. This is a trend which we gently discourage by bombing the hell out of them but we are going to run out of bombs someday and that's it folks. Ever heard of SDRs ?

It's not just gold now (although it has received a special kind of beating). Remember in 2008 when they started selling everything?

SDRs represented less than 4% of global foreign exchange reserve assets

Ron Paul almost got that many votes......

If you've ever wondered what effect the term "Margin Call" has on the market. You are seeing many margin calls on gold positions right now (in addition to panic selling); the margin call desks are busy and huge positions are being liquidated.

TEOTWAWKI wrote:I will stay in... lead

Be careful. Because once the current hoopla over lead subsides, lead will again be worth the same as a "plugged nickel". lol

Gold down $150 today. Hard to believe.

Gold down $150 today. Hard to believe.

Margin,
What are the historical patterns when gold drops like this. Do interest rates begin to creep up? Is it tied to a recovery in the dollar? Is it tied to corporate profits? Or is there no pattern when it corrects?

The stock market will look like that tomorrow if it turns out Americans are going to be afraid to walk passed trash cans, after the incident in Boston.

2seaoat wrote:Gold down $150 today. Hard to believe.

Margin,
What are the historical patterns when gold drops like this. Do interest rates begin to creep up? Is it tied to a recovery in the dollar? Is it tied to corporate profits? Or is there no pattern when it corrects?

The previous two times gold corrected this much, the stock market had large corrections: 2008 (Lehman), 2011 (Europe)......2013 (????). When commodities fall like, its should be a sign of coming deflation. I had the absolute answer, I'd tell ya and we'd all get rich.

Naturally, in times of panic, US Treasuries become THE safe haven, driving the price up (rate down). That has been happening recently even as the market was making new highs.

am watching the market closing results and all precious metals have dropped precipitously . . . . . . gold, silver, platinum , , , even copper.

TEOTWAWKI wrote:Bob itry to buy gold and silver and they won't sell it to me at the current spot value plus a normal mark up. There is very little physical left to buy anyway. This is just a paper gold distraction nothing more. I expected this a few days before a stock market crash which I predict will be down to 8000 or worse so I will stay in gold and lead

Apmex physical premium to spot silver rises from $2.99 to $4.99 for 2013 Canadian Maples in 24 hours.

Wow!!! Gold futures down another $30 bucks this evening. DO NOT TRY TO CATCH THE FALLING KNIFE!!!!!!!

An AUtrocity, eh.

it just occurred to me the best way to steal the countries money.

prop up falsely any thing really, houses, gold you pick. and when you think you've about got as many fish in the tank as are gonna swim in, you pull the plug and drain the water and wha la dinner at tiffany's.

Chrissy wrote:it just occurred to me the best way to steal the countries money.

prop up falsely any thing really, houses, gold you pick. and when you think you've about got as many fish in the tank as are gonna swim in, you pull the plug and drain the water and wha la dinner at tiffany's.

Do you ever shut up?

Margin Call wrote:

Chrissy wrote:it just occurred to me the best way to steal the countries money.

prop up falsely any thing really, houses, gold you pick. and when you think you've about got as many fish in the tank as are gonna swim in, you pull the plug and drain the water and wha la dinner at tiffany's.

Do you ever shut up?

no

au contraire

au gratin on my bottom line......and I mean bottom......

AU yeaaah! Nice, seaoat!

au jus......they got to be behind this drop in gold.......

Au, that's cute.

Au sure wish I sold my class ring.....might be able to buy a big mac next week.....