WHAT JUST HAPPENED WITH GOLD?

The Business Insider ^ | 2-4-2010 | Joe Weisenthal

[blam]

WHAT JUST HAPPENED WITH GOLD?

Joe Weisenthal
Feb. 4, 2010, 10:37 AM

Once again, gold proves to be no defense against chaos. Look what just happened:

[snip]

[US Navy Vet]

Gold, HA invest in Lead(Pb)!

[blam]

The DJIA is down 218 as I post. See here.

[DM1]

this morning i read that the dollar was up and the Euro took a dump
maybe this is some sort of side effect?

[tgusa]

Lead and blued steel.

[dennisw]

It’s a big day for deflation.
USD up too naturally

Oil down $4 today
Silver to gold ratio is increasing which is a deflation indicator

[reagan_fanatic]

You’ve got the wrong chart. That’s the one showing Obama’s popularity.

[The_Victor]

WHAT JUST HAPPENED WITH GOLD?

It dropped 3%?

[Jim Robinson]

I’m fully invested in lead. Much more bang per the buck.

[ChildOfThe60s]

24 hours does not a trend make. Nor is it the end of the game.

Wait & see what happens to gold and silver if the dollar tanks. Or when Moodys downgrades US debt if O’s “budget” goes through.

I hold silver as a hedge against catastrophe, not as a traditional investment.

[aMorePerfectUnion]

Gold reached its saturation point of commercials to available air time for sale versus radio host penetration.

Nothing grows to the sky...

[mountainlion]

$30 drop on over $1100 is hardly a drop. Sounds like a panic hit piece to make money for someone. Stocks are down so someone dumped a bunch of gold to buy stock and make millions. Not much truth coming out of the media now days.

[TADSLOS]

LOL!

[b4its2late]

Crude is almost down to it’s 52 week low.

[ATOMIC_PUNK]

Your about to go Twelve Billion dollars more in debt from the nancyboys in washington even the Repubs aree voting for the debt looks like to me ...Time to IMPEACH and RECALL all these scumbags and tell china to float a boat back home....

[Migraine]

Gold can only drop that precipitously if a huge holder of futures contracts, e.g., the Russians, the Saudis, etc., has heard that a huge holder of physical metal is about to sell a boatload of it in order to raise cash or to prop up a stock or a currency.

Those sorts of blips usually correct right away. It’s the slow, steady downtrend you need to be concerned about; and that has not materialized (and won’t).

[martin_fierro]

Silver is the new Gold.

[Dick Bachert]

Wonder if one of the governments dumped a load into the market? Or a single speculator (like Soros) shorted a ton of it on the COMEX? That’s generally how the big guys and the governments push the price lower.

[Renegade]

I try to invest in Pb and brass at least twice a month. Really hard to bring down a deer with a bar of gold .

[cranked]

Gold bubble about to burst...either soon or in the near future....this is simply an indicator.