Good time to buy?
The wall of GREED & FEAR! Sellers outnumber buyers.
Buy low.......
I hope it goes to zero so I can buy a 100 million ounces or so for, well, the delivery charge I guess.
Putin and the Chicoms aren’t going to be happy, oops I left out the Mexicans.
Too bad for Obozo that the US Fed Gov has no abilility to manipulate this data.
It’s not just gold, deflation is rearing its ugly head in all commodities, stocks will follow (like in 2008).
Can’t Print Gold”- William Devane
LOL Can’t eat it either!
It’s not about price, per se, it’s about possession.
People holding “paper” gold realize they don’t have the physical stuff and are panicking.
Paper gold has been re-hypothecated many times over.
Time to pay the piper.
Also, CNBC sauid again this morning, this *proves* gold is jsut a worthless, shiny metal...
If it’s so worthless, why are all the central banks buying it?
After forty years plying in the market there is generally one truth:
EVERYTHING eventually reverts to the mean.
Manipulation. The fed is putting $85 billion per month, $1 trillion per year, into the stock market which is only $15 trillion in the first place. In other words, the fed is buying the stock market, propping up prices illegally through their money laundering scheme, and people are selling gold to get back into the stock market.
To date the fed has put in at least $3.2 trillion into the market. How much stock they hold is unknown as they no doubt trade as well.
I believe this to be a tactic to own the stock market. Obama, et al., are Marxist/Communists and want to completely control our economy and what better way than to buy the stock market, or at least controlling interest of 51%.
All they need to do is also raise interest rates. That will tank the economy and they can finish buying off what is left.
I heard a rumor that they learned how to manufacture gold much cheaper now, and that is why the price is dropping...
(just kidding)
Low commodity prices are not exactly the harbinger of doom %100 of the time, the 90s glut of stuff did the USA ok for the most part, unless you were a hog farmer circa 97 Asian contagion, that sucked.
It would be nice if ammo prices crashed.