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Gold Is Getting Destroyed ($1140 Oz)
BI ^ | 11-5-2014 | Elena Holodny

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 ...


TOPICS: News/Current Events
KEYWORDS: commodities; dollar; economy; gold; goldprice; investing
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To: Graybeard58

LMAO...

Isn’t that the truth.


21 posted on 11/05/2014 6:44:19 AM PST by DoughtyOne (The mid-term elections were perfect for him. Now Obama can really lead from behind.)
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To: Graybeard58

“No FReeper ever lost money on gold - just ask them.”

Gold was about $250 when I started buying. Do you really think I have lost anything? Many people started buying when gold hit $750.

Your ignorant comments make it sound like no investment is ever worth attempting. Your comments could be made of any investment vehicle from stocks to real estate.


22 posted on 11/05/2014 6:45:19 AM PST by CodeToad (Islam should be outlawed and treated as a criminal enterprise!)
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To: MrB

Yes, but buying at $2000 and holding at $1150 an ounce can certainly be demoralizing...


23 posted on 11/05/2014 6:45:25 AM PST by DoughtyOne (The mid-term elections were perfect for him. Now Obama can really lead from behind.)
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To: blam

But, but, but... Kevin Demerit was just on the radio telling me gold was going to $2000 by year’s end. He promised to send me the insider’s report.


24 posted on 11/05/2014 6:45:52 AM PST by HonorInPa
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To: blam

More fiat currency means gold is worth less. Just like 2+2=5.
Paper shorting of ETFs by central banks must be huge right now. As Japan prints and borrows, they are probably are buying some of the real stuff in lower dollar values than they are shorting it. The central banks probably also have some way of covertly buying gold w/o going through the markets.
The one thing that cannot happen is that the central banks do not have the gold that the claim they still have. The dollar must be defended as the reserve currency and defend against competitors BRICs. They need to get gold back at depressed prices. This is all a big scam, a shell game.


25 posted on 11/05/2014 6:46:17 AM PST by grumpygresh (Democrats delenda est. President zero gave us patient zero.)
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To: DoughtyOne

Yeah, I can see the depression factor of that,
but you have to buy PMs with the right mindset.

You’re not “making an investment”, you’re preserving your wealth in the event of a worthless currency.


26 posted on 11/05/2014 6:46:56 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: elcid1970
"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!

"

Hyperinflation - When Money Dies: Germany And Paper Money After 1910

27 posted on 11/05/2014 6:47:19 AM PST by blam (Jeff Sessions For President)
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To: blam

For those who follow Silver, it dipped to a bit above $15.10 and is now floating around $15.375 per ounce.

We’ve got a stronger dollar this morning.


28 posted on 11/05/2014 6:47:46 AM PST by DoughtyOne (The mid-term elections were perfect for him. Now Obama can really lead from behind.)
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To: elcid1970

We as Christians and preppers should be ready for this, we knew this was coming.


29 posted on 11/05/2014 6:48:37 AM PST by ForAmerica (Texas Conservative Christian *born again believer in Jesus Christ* Black Man!)
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To: elcid1970
There Are Alarming Economic Similarities Between Now And 1873
30 posted on 11/05/2014 6:49:29 AM PST by blam (Jeff Sessions For President)
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To: edpc

Haha! I love the thought of Glenn Beck losing money on his darn Goldline.


31 posted on 11/05/2014 6:50:03 AM PST by MNDude
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To: MrB

I do agree with that.

I also note that the big dips in the metals mean we have a stronger dollar too.

I realize we have major problems, but I am convinced that with the right person at the helm, new sound policies put in place, we could let the populace keep more of their money, and reap increased tax revenues at the same time.

At that point you pay down the debt, the dollar goes postal.


32 posted on 11/05/2014 6:50:33 AM PST by DoughtyOne (The mid-term elections were perfect for him. Now Obama can really lead from behind.)
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To: blam

Short-sighted...folks don’t understand the chaotic/purposeful anarchy 0 has planned for Nov 5-Jan 31...likely before Dec 6th Louisiana runoff.

more eb0la
more Haiti
more other countries of risk
amnesty
EPA nightmarish stuff like taking land from BofLM, messing with coal some more and oil and fracking...
likely IR$ stuff

Bottled water, amm0, and dried food.


33 posted on 11/05/2014 6:50:47 AM PST by CincyRichieRich (In Times of Universal Deceit, Telling the Truth Becomes a Revolutionary Act.)
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To: blam
I'll keep my "crushed" gold, thank you.

Gold will still be gold when paper explodes and burns.


34 posted on 11/05/2014 6:56:04 AM PST by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: CodeToad
Your ignorant comments make it sound like no investment is ever worth attempting.

I didn't say that now did I? It must really suck to be such a bitter person.

Read my other comment on this thread.

I've been investing all my adult life, it enabled me to retire 15 years ago at age 54.

35 posted on 11/05/2014 6:58:07 AM PST by Graybeard58 (Fear God, and keep his commandments: for this is the whole duty of man. Eccl 12 V.13)
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To: grumpygresh

The physical gold bullion black market is very large and growing. It is centered in Dubai.


36 posted on 11/05/2014 6:58:15 AM PST by mad_as_he$$
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To: blam
I love it when things I want go on sale.
37 posted on 11/05/2014 6:59:10 AM PST by GBA (Hick with a keyboard.)
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To: Graybeard58

Many don’t have gold as an “investment” for profit...


38 posted on 11/05/2014 7:01:49 AM PST by SZonian (Throwing our allegiances to political parties in the long run gave away our liberty.)
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To: blam

gold drops as the dollar gets stronger

this would be a statement that the world sees republicans as working to benefit the country and not working to destroy it as has been the case for the last 6 years


39 posted on 11/05/2014 7:01:53 AM PST by sten (fighting tyranny never goes out of style)
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To: blam

Met a “good ‘ole boy” from Clay Co. Alabama(very rural) on the lot a couple of days ago. He’s been working in the old fields of North Dakota for the last few years. Making 90-100k. He says oil hits 60 a barrel then there goes his job.


40 posted on 11/05/2014 7:02:40 AM PST by saleman (?)
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