Posted on 10/11/2013 5:07:56 PM PDT by whitedog57
Today was a bad day for precious metal investors. Both gold and silver dropped 2% today.
commod101113
As global equity markets rallied.
gem13
The gold sentiment index fell.
goldent
Comex gold holdings dropped.
comexgoildinv
At least the gold forward curve is modestly upward sloping (orange line).
goldfexo
Too bad the USA went off the gold standard. While some blame President Richard Nixon for taking the USA off the gold standard, the truth is that the USA had been dumping its gold holdings since 1957.
goldike
Whatever its point it’s unreadable.
I think Obama has put the US back on the Golf Standard. I think he uses Ping clubs and Titleist balls.
In simple terms...We call this a “BUYING OPPITUNITY”
we’re gong to cave on the debt ceiling, sequester, 0bamacare... basically all the desires of big govt progressives
which will push our debt thru the roof... and with 0bamacare costing more then $3 trillion/yr... the debt is set to explode
Q: how can this make the dollar stronger?
A: it cannot
therefore, expect gold to continue to rise.
as extra incentive... yellen is for printing more money and she’s in favor of ‘a little’ inflation is it helps unemployment. considering our actual unemployment is around 17%... I expect lots of inflation
which will push gold higher
please tell me what would drop the price
Lower energy costs might.
Lower energy costs might.
Gold and Silver off between 2 or less than 3% each.
Not an earth shaking event. Stock Market is recovering, and the next time the USA borrows a few hundred Billion, metals will recover...that would be next month.
Markets will notice that Lucy has predictably yanked the football from our Charlie Brown, once again, and metals prices will rise on Monday.
There is no near or mid-term economic mechanism to continue avoid inflation.
Hold your positions.
Oddly, the price of GAS at the pump has gone way down ever since Obama shutdown the government.
Locally, it is down to 2.99
Unlike his myriad critics, Nixon was no fool about the real world in which he lived.
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