GOLD PLUMMETS - SPOT CHART

http://www.kitco.com/charts/livegold.html ^

[Fitzcarraldo]

Source: www.kitco.com

[Publius6961]

Wow.
340 posts and not a single explanation of the word "plummet"?

I am recovering from surgery and can waste the time, but can someone say... "sucker"?

LOL

Someone wanted to discuss gold and conned a few other blowhards into joining him.
What a waste of time.

[Deuce]

The original article (which is apparently no longer available through the links provided at the top of the thread) was posted on July 24th. The price of gold (POG) had "plummeted" from $325 to $300 in a 3-4 day period at the time. This decline, in a market that has been trending upward for the last year, was the steepest in many years.

There is a suspicion among many who follow the gold market that the "powers that be" purposely manipulate the POG downward in an attempt to denigrate it. As long as gold is not viewed as the ultimate money as it has been for 5000 years minus the last 30, those who control fiat currency benefit substantially. There were also rumors that JPMorgan would be in deep do-do on its derivative positions if gold were allowed to go over $330 an ounce.

The above hopefully explains why the interest in this subject. I agree that if you are just looking now it seems like much ado about nothing. The only reason for my post #339 was to keep it on my recently posted comments list because I use it to check the POG (the chart at front of thread updates periodically).