You have two things going on here; real value, and hyped value.
Gold is certainly a good hedge against catastrophe, but the time to buy is not when the price is high.
The time to buy is now or whenever you think the bottom has been reached, but you won't guess right.
COPPER, he screamed from the rooftops, AGAIN. Forget gold, it is copper that tells the story.
http://market-ticker.org/akcs-www?post=219866&findnew#new
I have to suspect there are an awful lot of people right now looking for that perfect moment to buy gold before it starts going up again.
If not then people are screwed.
If you look closely, you’ll discover the article was actually written by Chicken Little.
More than 500 tons of paper gold were dumped into the market last Friday. The speculation is that a London trading house couldn’t cover their shorts. The story is here:
The price of gold has been manipulated. This is more scandalous than Libor
Keep in mind governments and some banks around the globe have been buying and hoarding gold. They are likely pulling this string.
Very significant demand is being seen throughout the world for physical bullion – in Japan, India, Australia, the U.S., Europe and elsewhere. The speculative raid by one or two banks which led to the price crash is being seen as a gift by eager buyers internationally. http://www.fxstreet.com/fundamental/analysis-reports/gold-investments-market-update/2013/04/17/
Manipulating a major market to make a huge profit can not happen!/s
If you haven't been doing it already, it's time to steer your own course through this pile up, using logic and common sense.
What “collapse”? Gold sat between 1600 and 1700 for months. It could not get any higher because money was flowing into the surging bull market. It was ripe for a big trade reaction, and that’s exactly what happened. Yawn.
No.
Gist here appears to be that Helicopter Ben is “Quantitatively Easing” (loose metaphor but it works) Gold down. Could be.
Commodity price manipulation is easy for new world order, as is news media manipulation.
Imagine that your net worth is several billion dollars and you have dozens of billionaire friends and you own or control the boards of hundreds of companies, especially in finance, raw materials, manufacturing, food, construction, chemicals, power generation, media, sovereign debt, defense, etc.,...
Not to mention you have billions worth of stocks that you’ve placed inside tax-exempt foundations that you control, that “advise” universities, government policy (of various governments) and any “global grassroots movements” that you wish to start, “spontaneously”...
What possibilities...
OK folks, tell me, are there any safe havens to put one’s money in?
Stock Market? CRASHING.
Bank Deposits? Yielding nothing ( and inflation eats up your savings ).
Money Markets? The same.
Gold and Silver? See Stock Market above.
Treasuries? See US Debt and Bernanke QE1 2 and 3.
Housing? (Well that’s the only one that seems to be recovering, but Obama again wants banks and the FHA to provide loans for those who can’t afford to buy homes ).
Mattress? (See Bank Deposits ).
So where to go?
“Is The Takedown Of Gold A Sign That The Entire Global Financial System Is About To Crash?”
I’m entirely ready to test the “reset” button at this point. We know it’s coming, let’s get it over with.
No, it means that all the people who are foolish enough to buy gold as an investment have already brought all of the gold that they want or can afford to buy and there are not enough "greater fools" out there to pump the demand that is needed to support the price.
This is only a temporary decline. We are closer to the SHTF in a global way than we’ve ever been before and there’s no one with sanity in a position to stop it.
ping
There’s a run on the LBMA.
Holders of Gold in the LBMA system were *extremely alarmed* by the AMRO default and the Cyprus confiscations. They drew the appropriate conclusion - which is “If you don’t hold it, you don’t own it”. They’re trying to take delivery of their Gold.
And their Gold either doesn’t exist, or it’s been hypothecated and has multiple owners.
The result was this orchestrated takedown. Five hundred tons of fake, not-real, naked-short, birdcage-liner IOU ‘Gold’ was sold on Friday - about 150 tons of it in the space of one hour.
This drop in Gold wasn’t due to a ‘confluence of factors’. That’s just MSM shill-talk.
This was a raid. It was a paper-intervention to shove the price of Gold (and Silver) way, way down.
The bullion banks in the LBMA are desperate. They need to shake metal out of weak hands, and they need to do it now.
The only sensible reaction is to do what the Indians are doing - back up the truck and buy physical precious metals. Just remember to store them outside of the banking system.
The price of gold and silver in dollars swing. The value of gold and silver does not swing wildly. Maybe we should chart the price of dollars in grams of gold and silver.