Posted on 11/05/2014 6:17:31 AM PST by blam
Elena Holodny
November 5, 2014
Gold is getting crushed. Again.
The yellow metal is at $1,140 per ounce, down by about 2.3%. It got as low as $1,137. This is the lowest level since April 2010.
Gold has been dropping to new lows for several weeks as the dollar has strengthened.
Oil is another commodity that is tumbling again. WTI crude oil prices dropped as low as $75.84 per barrel shortly after 5 a.m. ET. Brent crude touched $81.63. While this is great for consumers, this is troubling for the oil producers, who may be forced to idle unprofitable projects.
(snip)
(Excerpt) Read more at businessinsider.com ...
For the 5th day in a row, "someone" has decided that 0030ET would be an appropriate time (assuming the 'seller' is an investor who prefers best execution rather than the standard non-economically-rational share-repurchaser in America) to be dumping large amounts of precious metals positions via the futures market. Tonight, with over 13,000 contracts being flushed through Gold - amounting to over $1.5 billion notional, gold prices tumbled $20 to $1151 (its lowest level since April 2010). Silver is well through $16 and back at Feb 2010 lows. The USDollar is also surging.
The timing of the dump is right as Japanese trading breaks for lunch
No FReeper ever lost money on gold - just ask them.
But but but but all the MONEY PRINTING!?!?!?!?
“The timing of the dump is right as Japanese trading breaks for lunch”
Lunch time is a common time for taking a dump.
Like any other non-cash holding, you don’t “lose” anything, or gain anything either,
until you sell it.
Almost as sad as the Dem leadership today:
Zero Hedge
Bill Fleckenstein
Every Gold Bug on the planet
My old Colts and Winchesters just keep on going up!
Gold is getting destroyed?
Impossible!
It takes a nuclear furnace to do that!.................
Gold is being artificially deflated by the elites!
Never invest based on political idealogy.
Is it gold is weakening or the dollar is strengthening?............
All the signs are there! Hyperinflation & worthless currency are on the way!
Germany in 1923 - a mere hiccup compared to what’s on the horizon!
Panic! PANIC!!!!!
;^)
“No FReeper ever lost money on gold - just ask them.”
It ain’t braggin’ if you can do it. Me and mine are just fine. :)
Mining stocks are at an all time low. Gold is on sale.
Sponsor this half hour Goldline
Stocks pay dividends.
Not saying stocks have less risk.
Now there you go.... being rationale.
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