Posted on 06/25/2013 8:01:01 PM PDT by blam
The Floor Dropped Out From Under Gold
Joe Weisenthal
June 25, 2013
Gold is still looking like one of the sickliest assets in the world.
The floor just dropped out of it tonight, sending it to a new low for this cycle.
(Excerpt) Read more at businessinsider.com ...
goldbug ping.
The current Kitco chart on gold.
Silver taking a hit as well.
I do feel sorry for the chumps that bought into this bubble.
it’s the mother of all shakeouts.
who needs gold when you can have oil. If stories about peak oil return gold will not be far behind.
Silver is dropping along with it.
It’s the manipulated paper price for gold. Bears no relation to reality when it comes to physical gold...or silver for that matter.
Yes there is Peak Oil. Especially when you are not allowed to drill for any. There’s Peak Coal and Gas too. And Peak Food.
where should have the physical price of gold been before? my 1st thought about this is that monied people must see the monetary crisis subdsiding, so gold is looking less like a good hedge.... but, I’m from Missouri, so someone needs to Show-Me.
Buy low, sell high. Eat less, move more.thats 90% of what you need to know.
I think there is trouble in the international settlement markets and if you don’t have the cash, you sell what you can sell and that is gold.
I’m starting to feel a little peaked.
I expect Peak oil to take the back burner for the next few years as alternate energy products / better mileage autos start hitting the market (backed by government tax breaks/subsidies). Slow down in emerging economy’s will also push down oil demand.
What about chocolate gold coins? Please tell me they’re as valuable as ever.
Japan is down again!
http://www.marketwatch.com/investing/index/NIK?countrycode=JP&link=MW_story_quote
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