Posted on 10/08/2010 4:23:26 AM PDT by blam
Gold Is Sliding Again, And Has Lost Nearly $40 In The Last 24 Hours
Joe Weisenthal
Oct. 8, 2010, 6:50 AM
Hisssssssssss?
As seen by the green line and the red line (which is yesterday) gold has lost about $40/oz in a little more than 24 hours.
No doubt the gold bugs are praying for a weak jobs report that guarantees a monster QEII bazooka.
[snip]
(Excerpt) Read more at businessinsider.com ...
Goldfinger is behind it.
This reminds me of the Carter years without the inflation. I think anyone buying gold is pretty stupid....yes, it will probably go up, esp if there’s inflation...but how much higher?
I think now’s a good time to sell your coins...
Never buy anything when it's at an all-time high.
To me. You ain’t seen nothing yet. There will be hundred dollar swings in the gold price once this thing gets really moving. Not for the faint of heart. Lets chat again at $2,000.00. Thats what makes a market.
it’s because I bought some yesterday. Always happens. I should have warned you all I was buying so you would know to sell.
I think now’s a good time to sell your coins...
I agree with Gasden1st. Hold onto those coins folks.
Rampant Inflation In 2011? Commodity Prices Are Skyrocketing - Fed Wants To Print Lots More Money
Best case scenario, we muddle through this depression, with inflation at under 10%, employment under 10%, the Tea Party movement stays strong and in 2 years, 3 months we begin to see real change with major reductions in spending and taxes, and a booming economy.
Worst case is harder to figure out but inflation and unemployment and war or abject surrender to some hideous international position . . .
Best case scenario, we muddle through this depression, with inflation at under 10%, employment under 10%, the Tea Party movement stays strong and in 2 years, 3 months we begin to see real change with major reductions in spending and taxes, and a booming economy.
Worst case is harder to figure out but inflation and unemployment and war or abject surrender to some hideous international position . . .
For reference: Put moust at top right of chart, Click “options”, 10 - min looks real bad, 1- hour, worse..
1 - day, well that’s another story, 1 - week, I’ll take that chart any time. But TODAY could be the top. One day will be the TOP. I guess if one things TODAY, the world has seen the light, and we are on the road to fiscal responsibility, TODAY would be a good day to sell the coins.
http://www.livecharts.co.uk/MarketCharts/gold.php
Sounds like a sale to me!
It goes up it goes down but it keeps moving to $2000.00, watch it.
“Best case scenario, we muddle through this depression, with inflation at under 10%, employment under 10%, the Tea Party movement stays strong and in 2 years, 3 months we begin to see real change with major reductions in spending and taxes, and a booming economy.”
Best case is Tea Party candidates win and if there is a Republican congress, spend the next two years trying to roll back every Communist program that has infected this country over the last 40 years.
The subpoena everyone. Spend the next two years not giving the administration any room to breathe. For every Czar there is a special council... Heck, It’s Fitzmas time.
Get ready for $2,000, after the strong industrial nations and Corporations start hedging their assets with it. As a matter of fact, they already are.......
P.S. I was told that buying Gold at $700 was a “stupid move” and that it was on a bubble and that it would “likely” drop back to $300 “soon”. Well, thanks to Gold, I have fully recovered and gained everything I lost in 2008. The next 2 years will be “Commodities, Commodities, Commodities baby!” Thanks to our new Government.
That is why I buy silver in lieu of gold. If unemployment drops and economy starts to pick up, silver prices will rise because supply is tight and industrial demand for it will pick up. If unemployment increases or does not improve, then feds will panic and start more QE. Threat is inflation thus silver will also go up. On the other hand if economy and employment gets worst and feds decide to go for austerity, then silver will drop in price. Knowing politicians do not like to cause pain and lose elections, QE is the game. Get more physical silver and start stacking em.
The idea of soaring commodity prices just doesn't wash but it keeps getting repeated anyway. Back here we all had to face the fact that they've fallen over the past 1/2 year and overall commodity prices have grown at half the inflation rate.
I’ll give it to you in terms you understand; It’s called Government infused, mass injections of worthless cash, artificial economic manipulation. (The REAL bubble.)
Hyper inflation is building up right under your feet, you know, under the carpet of false security you are standing on.
$2000 seems very unlikely but I think I'll hold out for a while just the same.
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