WHAT JUST HAPPENED WITH GOLD?

The Business Insider ^ | 2-4-2010 | Joe Weisenthal

[blam]

WHAT JUST HAPPENED WITH GOLD?

Joe Weisenthal
Feb. 4, 2010, 10:37 AM

Once again, gold proves to be no defense against chaos. Look what just happened:

[snip]

[dfwgator]

“...no, no blue chips,
either...I was thinking about Zinc! (pause) Yeah, Zinc! What’s it goin for
these days? ...Thirty seven and a half cents-—a POUND?? ...Yeah, well, I might be willin’ to spring for a coupla TONS!”

[RobRoy]

My take as well. I just keep buying it at the latest price. And right now looks like an exceedingly good time to buy. Lowest price in quite a while.

[Nobamamama]

I like silver....better denominations, and hubby can melt coins down to slay vampires and werewolves if the occasion presents itself.

[DM1]

yes i just read something similar over at yahoo finance
thanks

[pgkdan]

bump

[Steamburg]

Good Call, unless somebody has found out that the w0n is planning a FDR repeat and will try to seize all the gold at reduced prices. I, of course have not seen or heard anyhing to indicate that, except past behavior of American Dictators.

[Dixie Yooper]

Someone big dumped their position.

Glenn Beck? G. Gordon Liddy? Mark Levin?

[paulycy]

hubby can melt coins down

It looks like the market is going to melt it down for you.

[dennisw]

On weakness in Spain and the rest of the weaker EU countries. Also Greece, which is trying to tackle its deficit with an EU approved austerity plan, is facing a wave of strikes from its unions as a result.

I forgot about those deflationary factors! Plus that Euro turmoil weakens the Euro helping the USD to strengthen. All in all a flight to safety and confidence in the USD today and away from commodities which are less necessary in a deflationary recession

[bolobaby]

Looks like a buying opportunity to me on the silver side of the house...

[Dead Corpse]

Wake me up when it gets back down around $300-400 again. Then I’ll buy some more. ;-)

[13Sisters76]

What is the story here? What good is gold? If they decide to TAKE it, they will. FDR did, Obama might too. What good is it? If you buy it as a certificate, they can seize it anyway. If you buy it as metal and keep it in your house, in the event of collapse, you better HOPE no one knows you have it. You won’t have anywhere to cash it in and the government is still likely to find out you have it.

So I don’t get the fervor.

[dennisw]

That’s exactly how it is today, this week, this month (the last 30 days). Next month and the month after I don’t know

[vox_freedom]

Wake me up when it gets back down around $300-400 again. Then I’ll buy some more. ;-)

Me too.

[Durus]

Not to mention copper and brass.

[Mr. K]

I think a good indicator of when to SELL gold is whenever all those commercials appear on the radio telling you to buy gold now!

[LibLieSlayer]

Me too... and one can feed ones-self with lead’s help. Works good against ooglie rooglies too!

LLS

[Osage Orange]

Unless you are a day trader....one day isn’t a trend.

[tgusa]

Plus, reloading is SUCH a relaxing hobby.

[mountainlion]

Last time I bought silver I paid around $18. Now down to $15. Must...buy...more...silver. NOW!

Last time I bought Gold I paid around $445. Note to self

Sell gold.