[CivilWarBrewing]

Thoughts?

[mountainlion]

Profit taking. Raising cash to rip someone else off.

[samadams2000]

Could be seeing a realization that we will go into recession with the implementation of Obamacare. That would deny inflation its day and metals could be headed lower.

[samadams2000]

Could be seeing a realization that we will go into recession with the implementation of Obamacare. That would deny inflation its day and metals could be headed lower.

[MrB]

-2.5% is “tanking”?

[MHGinTN]

Precious metals are the backbone of the electronic revolution ... like the Fedzilla buying a five year supply of ammo for immediate delivery, this is a harbinger of collapse, when electronic gear not only will not be bought off the shelves but will not be produced for sale until the planet makes corrections.

[circlecity]

Maybe the big players are manipulating things so they can buy gold cheap becuase they know a crash in the market is in the offing in the not so distant future.

[Jonty30]

Anything that falls in price is being sold off. Odds are, some of it is smart money that recognizes that commodities are over priced.

I’ve heard that China’s economy is expected to suffer a slow down.

[SeaHawkFan]

This is easy. The value of precious metals over the long run is some premium over the cost of getting new product to the market; and no more than that.

To a large extent, the value of gold is perceived and not really based on actual worth. Don’t be surprised if it goes down another 15-20%.

[Zuben Elgenubi]

Thoughts?

According to Bernacke, inflation is cooling to 1% from 2% a month ago.

Another way to look at it is deflation is rearing its handsome head. Prices fall in a deflationary period, even precious metals.

[1rudeboy]

Markets can “tank” for a variety of reasons, but the two primary ones are fear, and greed.

[mrsmith]

QE slow down would do this and send treasury yields up..

Looks like they expect that, at least temporarily.

[ExSES]

One answer..., Treasury interest rates are climbing in anticipation of Fed tapering!(if you believe they can gracefully eliminate their huge book of CRAP assets being accumulated).

Gold doesn't earn interest, it is a "store" of value, therefore the higher the interest rates (to a point) gold is sold in favor of higher paying investments. When inflation truly kicks in..., and paper assets become confetti, gold again becomes desirable!

Gold is not an "investment", it is an "insurance policy" of last resort! Always has been and always will be!

[discostu]

Because they’ve been grossly over valued for a really long time. Eventually enough traders were going to realize that.

[Yo-Yo]

Everyone is selling their gold holdings so they can buy BitCoins.

[Chad_the_Impaler]

Minutes of Fed meeting released at 2pm ... look at the chart.

[dfwgator]

Let me put it in the words of Billy Ray Valentine, Capricorn......

"Okay, precious metal prices have been dropping all morning, which means that everybody is waiting for it to hit rock bottom, so they can buy low. Which means that the people who own the precious metal contracts are saying, "Hey, we're losing all our damn money, and Christmas is around the corner, and I ain't gonna have no money to buy my son the G.I. Joe with the Kung-Fu Grip! And my wife ain't gonna make love to me if I got no money!" So they're panicking right now, they're screaming "SELL! SELL!" to get out before the price keeps dropping. They're panicking out there right now, I can feel it."

[ScottfromNJ]

The phony metals paper trading market is what’s moving down today. The real valuable physical stuff is sitting in people’s vaults and safes.

[Rockingham]

Newly released Fed minutes show that the end of their program of monetary stimulus is approaching. Interest rates will then rise, which will drive down precious metal prices as commodities speculation becomes more expensive in terms of carrying costs and less attractive than the more secure profits that will soon be available from lending. The current sell off is a way for metals speculators to secure profits in anticipation of the price decline that will ensue because of the Fed pull back.

[faithhopecharity]

my thought is that I think silver is a tremendously attractive buying opportunity! gold also attractive but not quite as much as silver, which looks like a real steal !!
(for long term investors, of course, as ... these sort of things can and do go up AND down in short term trading )

but anyway since you asked for our thoughts, there’s one for you.

worth about what you paid for it, incidentally, you puts up your money and you takes your chances

good luck!

[sten]

sell offs are usually due to someone with substantial holdings being in need of cash... unless the unit of measure, the dollar, is getting stronger.

is the dollar getting stronger? by itself... no. in comparison to other currencies... it’s a toss up.

and of course there is outright manipulation