If silver goes down to low 20s, I would buy again.
If gold goes $1200, I would buy again.
This sounds like an excellent buy opportunity.
These guys are missing another reason, the metals are priced in dollars.
With everyone fleeing to dollars, of course the price relative to dollars is going to go down.
This is the biggest factor and it isn’t going to last.
So buy buy buy....
REBOUND GONE: Europe Dives Into The Red, US Futures Slip
Friday, September 23, 2011 8:36:47 AM · 17 of 25
EBH to RayChuang88
I was wondering the same thing yesterday...gold was dropping too?
The only thing I could figure out was that ‘wealth’ is truly gone and those that bought gold are needing to sell it at peak to cover margins. Which would be bursting the gold bubble. The winners will be those who can actually hold on to their gold through the contraction.
The long bull market in commodities is over
I need plunge protection. Should I call a plumber or the White Hut for a bailout?
How about reason #5 for the drop in gold?
Namely, gold was overbought and had not had a 10% correction in over 18 months.
Any excuse is all it takes for gold to undergo a correction. Now the unanswered question is how big will the correction be.
My guess is the correction will take gold to the $1500 level and then it is up, up, and away again.
Thanks for posting this. I started a thread on silver yesterday to see if any freepers knew what was going on or where to go to find a sensible explanation. I wasn’t very impressed with most of the replies. No one knew any more than I did.