Gold Tumbles Back To $1,825

TBI ^ | 8-23-1011 | Mamta Badkar

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Gold Tumbles Back To $1,825

Mamta Badkar
Aug. 23, 2011, 4:27 PM

Gold futures are down just over 3.22% ending a rally that saw gold prices soar to $1,900 an ounce. The drop was attributed in part to a bounce back in equities and profit-booking.

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Yesterday's posting:

GOLD $1900

[9YearLurker]

QE3 here we come!

[silverleaf]

chinese manipulation?
So they can load up

[WackySam]

Going back to 1650-1700 before hitting 2k by the end of the year.

[NormsRevenge]

It’s just a flesh wound, band-aid’ll do, ma’am. on to 2500 :-)

[Zakeet]

The drop was attributed in part to a bounce back in equities and profit-booking.

Precious Metal Margin Warfare Jumps The Pacific, As Shanghai Hikes Gold Margins For Second Time In A Month, Prepares To Crush Silver

Undoubtedly, this was also a contributing factor.

[omega4179]

Looking at this chart I would say it has plenty of support at 1600.

[knarf]

Didn't I read here that the gummint has halted all numismatic gold sales because the inflated price was lower than the trading value?

If so, that would account for this 'fall'

[Ernie Kaputnik]

Tumbles?! Seriously?!

It drops less than 4% due to market manipulation and they are saying it “tumbled”.

Typical propoganda from the asshats in the media.

My advice is to buy as much PM (gold, silver, platinum, etc.) as possible and hold onto it. Ignore the man behind the curtain. The powers that be are doing everything imaginable to prop up their fiat currencies. What a bunch of B.S.

[PMAS]

Normal pull back with some government help (raising margins), but the one thing that gold can count on is that Governments will continue to screw up.

[WackySam]

Tumbles?! Seriously?!

I don't think it's a "tumble", but gold is due for a (healthy) correction. I'm still long, and have been since the low hundreds.

[BooBoo1000]

Don't get your shorts all knotted up. If you are smart you will run to your local coin store or get on the Internet and load up on Gold and Silver, the Problems that caused the run ups are still out there. Europe ready to collapse, dollar sinking, no leadership, all of the problems are still with us, so back the truck up and load it with Gold and Silver, you will sleep well at night.

[WackySam]

I’m loaded up on physical, and that’s not going anywhere. I did sell most of my paper today though to lock in profits. I’ll start buying in again around 1,700.

[Atlas Sneezed]

Oh dear! It’s down to the record high set three days ago!

It might be months before it breaks 2000 at this rate!

[PiperShade]

Gold needs to go way higher to equal its record during the Carter years’ hangover. At least to 2.5K/oz to account for inflation.

Didn’t see mine back when and will hold on now. >PS