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 ...
Wait, no.
Buy, buy, buy.
“China, my China...
Ooops. Bill Devane’s job just got a little harder.
LMAO
Stupid gold bugs. Money is the dollar and nothing else. It’s backed by the endless ability of the Federal Reserve to bullsh!t.
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.
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