Precious Metals Taking a HIT Today!

Kitco ^ | May 08, 2012 | GeorgeWashingtonsGhost

[GeorgeWashingtonsGhost]

Hold on to your hats, folks.. Leading up to the election, could these numbers portend of things to come, or is this just a bump in the road?

[null and void]

The road to the election is more bumps than road.

[taildragger]

Is it Euro family big money getting out of Gold to go to T-Bills in a flight to safety as Europe Melts... Glenn predicted this....

[DeaconRed]

Wrong metals.
Lead, Brass & Copper is where I have my money.
I keep them real close. . . .

[In Maryland]

Or are Greece and/or France selling off gold reserves to raise cash for when the Eurozone cuts them off?

[DeaconRed]

UH OH
I think I hear a drone overhead. . . .

[LRoggy]

Don’t worry, there will be some Freepers who will come on ot this thread and tell us its all a conspiracy to drive down the price before the election to make inflation look tamer! Heaven forbid that the price fall might just be some people selling out . . .

[econjack]

The price of gold is puzzling, since it is usually a hedge against inflation (which is just around the corner) and a bailout place for cash when the market heads south. True, about 80% of gold's production ends up in industrial, rather than ornamental use, and the worldwide recession has kept its price down somewhat. Still, anyone want to bet that ETF’s like NUGT, or gold stocks in general, don't double within the next six months?

[Lancey Howard]

Sounds like the opposite of the “pump and dump” stock strategy in play here.
Could be a good time to stock up on more gold soon.

[Lancey Howard]

(( ping ))

[An American!]

http://silverprice.org/silver-price-history.html
SLIVER - LAST 34 YEARS

[sten]

it’s fairly simple.

gold has a value... that value doesn’t change much.

how that value relates to dollars is a different story. as they drop the value of the dollar, the number of dollars required for an ounce of gold goes up. if they strengthened the dollar, then the number of dollars per gold ounce would drop.

so the only question you really have to ask is...

have they done ANYTHING to strengthen the dollar?

if the answer is no, and gold is dropping in value... then either people need the actual dollars, or someone is dumping gold on the market

[An American!]

http://goldprice.org/gold-price-history.html
GOLD PRICE LAST 36 YEARS

[petro45acp]

“.. Glenn predicted this....”

probably.....never got the head wrapped around the cupcakes though...... :)

[Uncle Ike]

” The road to the election is more bumps than road. “

Those aren’t really ‘bumps’ - they’re all the cans that have been kicked down the road over the past few decades...

And this stretch of road marks the ‘as far as they can go’ point....

Somebody must have removed the “WARNING!! Bottomless Pit Ahead” sign.....

[green iguana]

I don’t think those metals are going to help unless you also have a bit of steel to, um, count them with.

[GraceG]

[ Hold on to your hats, folks.. Leading up to the election, could these numbers portend of things to come, or is this just a bump in the road? ]

Just the Market Shakes....

[GraceG]

[ Is it Euro family big money getting out of Gold to go to T-Bills in a flight to safety as Europe Melts... Glenn predicted this.... ]

Quick someone investigate GoldLine and Glenn Beck because if you bought Gold 4 years ago YOU ARE SO SCREWED!!!! /s

[GraceG]

[ “.. Glenn predicted this....”

probably.....never got the head wrapped around the cupcakes though...... :) ]

You are supposed to wrap duct tape ‘round your head so it don’t ‘splode!!!

Not Cupcakes!

[GeorgeWashingtonsGhost]

Are those the precious metals that go BOOM!?