Posted on 10/17/2010 7:05:08 PM PDT by blam
Gold And Silver Are Getting Crushed
Joe Weisenthal
Oct. 17, 2010, 8:46 PM
A rough start to the week for precious metal bulls. Both gold and silver are off pretty sharply -- silver especially, which is not surprising, because it's surge has been even more meteoric than gold's.
Below is a look at silver futures going back a few days.
The interesting thing is that both metals had a sharp knee-jerk up-move on Friday when Bernanke spoke, and then sold off instantly, and have been trending down post-speech. Obviously it's early, but... when precious metals sink after a Bernanke speech (and the dollar rallies) it's worth watching things closely, because that's not normal.
Add in the bond selloff to the mix, and you get the sense that for the moment the landscape is changing -- or at least has the potential to.
[snip]
(Excerpt) Read more at businessinsider.com ...
landscape changing to what?
It had to happen sooner or later.
What about aluminum? I don’t see anything about aluminum. How’s aluminum doing?
ping-a-ding-a-ling-ling for later
5% off an all-time high.
When it gets to 10%, remind me to buy (more).
(Gold isn’t off this much).
All the more reason to buy.
It’s all gonna end sometime folks, and if the sign of the beast doesnt look like an RFID chip, good luck to you all in your implantation!
Gold and silver are due a correction after a tremendous run up in the last few weeks, but the last two “corrections” lasted less than 24 hours. I would not be surprised for this dip to be bought heavily, and for gold and silver to close up tomorrow.
Corrections are both normal and healthy.
Nikkei Rises 0.2 % On Short-Covering; Mazda Falls
TOKYO | Sun Oct 17, 2010 8:15pm EDT
TOKYO Oct 18 (Reuters) - Japan's Nikkei average rose 0.2 percent on Monday on short-covering after losing nearly 1 percent the previous session.
[snip]
Hyperbole.com
OMG! I guess my 322.00 an ounce is totally screwed. What a bummer.
"This is the end game of our system. Our system is basically exhausted."
To put it another way:
Oh No! We’re back at all time highs set late last week!
I’ve been wondering about all these firms buying gold, “gold parties”, junk jewelry buyers- where is all the metal actually going? The trivial solution is “China”, but does anyone actually know?
Gold prices are indeed a bubble, but where in all this does Soros come in?
Just more sell off of the gold from ft Knox.
That’s how they are keeping gold down, by dumping volume on the market every couple of weeks. They’ve been doing this for about a year.
The last 5 years or so, a lot has been going into vaults. The two big gold ETFs (GLD and IAU) have bought huge quantities of the stuff so that they can create more shares.
That's easy. From all the posts about him, I gather that Soros is responsible for everything that has ever happened.
Silver & Gold - Burl Ives circa 1964 CBS Rudolph the Reindeer.
http://www.youtube.com/watch?v=oMlqn_Hjyi8
When the networks were not filled with Christian haters and Muslim shareholders at ALL the TV networks.
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