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Gold prices plunge to five-year low
cnn money ^ | 7-20-2015

Posted on 07/20/2015 8:08:32 AM PDT by Citizen Zed

Gold plunged to its lowest level in five years on Monday, triggered by heavy selling overnight and signs Chinese demand may be weaker than expected.

Prices plunged by as much as $40 an ounce in minutes when Asian markets began trading around 9.30 pm ET on Sunday, before stabilizing in European trade.

By 9.15 am ET, the metal was down about 2% at $1,110, having dived below $1,100 -- a level not seen since 2010.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Chit/Chat
KEYWORDS: china; europeanunion; fiatpreciousmetals; gold; goldbugs; goldprice; iran; israel; lebanon; waronterror; wrongagain
Sell, sell, sell.

Wait, no.

Buy, buy, buy.

1 posted on 07/20/2015 8:08:32 AM PDT by Citizen Zed
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To: Citizen Zed

“China, my China...


2 posted on 07/20/2015 8:16:02 AM PDT by proxy_user
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To: Citizen Zed

Ooops. Bill Devane’s job just got a little harder.


3 posted on 07/20/2015 8:20:07 AM PDT by ozzymandus
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To: Citizen Zed

LMAO


4 posted on 07/20/2015 8:30:45 AM PDT by Lib-Lickers 2
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To: Citizen Zed

Stupid gold bugs. Money is the dollar and nothing else. It’s backed by the endless ability of the Federal Reserve to bullsh!t.


5 posted on 07/20/2015 8:33:21 AM PDT by Stentor ("The best lack all conviction, while the worst are full of passionate intensity.")
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To: Citizen Zed

Waiting for the panic selling to begin and than when gold dips below $800 on its way to $700 time to start buying. Been waiting for this for 7 years. Gold price does not match petrodollar, silver, or other commodities and was way over valued. Euro is crashing and now that the Chinese market is in free fall the world will turn to the Dollar driving it’s value up and the market will push up to even higher levels and gold will plummet.


6 posted on 07/20/2015 8:42:54 AM PDT by Mat_Helm
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; cardinal4; ColdOne; ...

Thanks Citizen Zed, fiatcommodities ping. From the FRchives:
7 posted on 07/20/2015 9:12:44 AM PDT by SunkenCiv (What do we want? REGIME CHANGE! When do we want it? NOW)
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To: Mat_Helm
Waiting for the panic selling to begin and than when gold dips below $800 on its way to $700 time to start buying. Been waiting for this for 7 years. Gold price does not match petrodollar, silver, or other commodities and was way over valued. Euro is crashing and now that the Chinese market is in free fall the world will turn to the Dollar driving it’s value up and the market will push up to even higher levels and gold will plummet.

This is the most sound advice that can be given. I agree 110%. Gold has been arbitrarily pushed through the roof in the form of panic as well. Gold is good to have but not at these inflated prices, silver is better in my opinion for you SHTF crowd. I have always noticed, Dollar Up = Metals Down and vice versa.

8 posted on 07/20/2015 10:41:04 AM PDT by BA63
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