GOLD IS GETTING SMOKED ($1150 Oz)

BI ^ | 11-30-2014 | Myles Udland

[MaxMax]

Buy oil below $40. That is the opportunity coming.

[blam]

"Buy oil below $40. That is the opportunity coming."

Ahem

OIL GIANT WARNS: Crude Could Crash To $30

[Alberta's Child]

I suspect it is dollar strength, since we’re seeing similar declines in the prices of almost every commodity.

[Jack Hydrazine]

It’ll fall until mid-December.

[grumpygresh]

If we had a free market we would have a gold/PM standard.
But we have monopolies and crony capitalism so we have fiat currency based on the use of government force.

[Travis McGee]

[familyop]

Maybe, if the trend continues. China is certainly stocking up.

[grumpygresh]

Very few gold contracts are being forfilled on COMEX when the actual commodity is demanded. When a contract is not forfilled, the recipient gets dollars.
Some of the trading is shifting to Shanghai where the rules are stricter. The seller must actually have the stuff physically. If not, the seller goes to jail.
There is way too much paper in the market; leasing of gold, naked short selling and lack of central bank audits.
If there’s a war, the central banks will want their money (gold) back.

[RegulatorCountry]

They’re already cranked.

[RegulatorCountry]

I don’t really know, but suspect it’s a combination of newfound US oil might plus the European Union and China slipping into recession. India won’t be far behind.

It’s not all dollar strength behind the drop in gold pricing in US dollars, though. Went looking around and it’s falling in every currency I checked. Not as pronounced as when denominated in dollars but still falling, even in Indian Rupees, which is a strong market for gold.

http://goldprice.org/gold-price-india.html

[lexington minuteman 1775]

Thank You!
Freegards
LEX

[STJPII]

Great, great book

[hinckley buzzard]

Gold is down almost 40 dollars today, about a buck and a half due to the dollar, the rest to "normal trading," per Kitco.com.

[traumer]

[CPT Clay]

Great book!!!

[familyop]

"Buy oil below $40. That is the opportunity coming."

It sure looks that way. With some of the supply shutting down for a while between now and then, it would seem that buyers might need to be quick, too.

[familyop]

Interesting, that you brought that up. Enormous quantities of oil are used in a single military pursuit (pursuit as a tactical term, for example, the pursuit between the coast of France and Germany in WWII). Aircraft use even more fuel than ground vehicles. Many have said that there won’t be any more high intensity conflicts, but that’s wishful thinking. Such a conflict in this day and age might deplete all reserves very quickly, unless nukes are exchanged.

[familyop]

Scratch that “unless” in my last comment. Even if nukes were exchanged, large movements by huge numbers of vehicles would continue quickly afterward.

[Eagles6]

Buy bullets and beans. Just sayin’.

[GraceG]

I store my wealth via buckets of liquid mercury. I make change with an eyedropper.