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GOLD PLUMMETS - SPOT CHART
http://www.kitco.com/charts/livegold.html ^
Posted on 07/24/2002 8:29:42 AM PDT by Fitzcarraldo
Source: www.kitco.com
TOPICS: Breaking News; Business/Economy
KEYWORDS: goldprice; whoops
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To: Fitzcarraldo
The stock market just popped 50 points in the past five minutes. I wonder if institutional investors are rotating out of gold and into equity. My thought has been that a lot of institutional money has been sitting on the sidelines during the past few weeks, waiting for the market to get to a low enough level for them to see it as undervalued.
To: Fitzcarraldo
What happened in New York yesterday?
To: Fitzcarraldo
Please elaborate on the significanceof this post for the gold illiterate masses like me :)
To: Fitzcarraldo
Stay out of gold. That stuff is still 25% less than it was in the 70's.
To: getbillnow
Sell! Sell! Sell!
To: getbillnow
Gold foil hat ON.
Supposedly the price of Gold rises because nervous investors are selling their stocks and buying Gold.
Gold foil hat OFF.
In this case it appears that some investors are selling gold to buy into the marker (Dow Jones now up 170).
To: Fitzcarraldo
Gold is a small market, easy to manipulate. The gold bugs claim some major banks have a position in derivatives that require around $300/oz in the fall, who knows. I did notice when Ron Paul tried to question Greenspan on gold manipulation they suddenly ran out of time.
8
posted on
07/24/2002 8:39:20 AM PDT
by
steve50
Comment #9 Removed by Moderator
To: Fitzcarraldo
Thank you. That makes a lot of sense.
To: Fitzcarraldo
Gold essentially tracks the dollar. If the dollar continues to weaken, gold should track higher. It is, however, a rigged market.
11
posted on
07/24/2002 8:42:45 AM PDT
by
Dog Gone
To: steve50; Poohbah; Miss Marple
Wasn't there an attempt to corner the silver market a while back? IIRC, they almost pulled it off.
12
posted on
07/24/2002 8:42:50 AM PDT
by
hchutch
To: hchutch
Several years back the Hunt brothers were charged trying to fix it I think. They had it up to $8/oz if I remember correctly. They would have made an absolute fortune if it worked. Not sure what the penalty was.
13
posted on
07/24/2002 8:46:03 AM PDT
by
steve50
To: hchutch
Yeah, belive it was the very rich Hunt brothers in Texas.
To: hchutch
The Hunt brothers?
15
posted on
07/24/2002 8:46:47 AM PDT
by
Howlin
To: Dog Gone
It is, however, a rigged market. And when has it not been rigged?
BigMack
To: edmund929; Lazamataz; DugwayDuke; dubyagee; steveegg; knarf
Ping!
To: edmund929
was the amount of gold value stored in vaults at WTC and now ash have any significance these days?
To: steve50
Did I read somewhere on here this morning that Citicorp is heavy into gold, or am I mixing up my threads?
19
posted on
07/24/2002 8:47:39 AM PDT
by
Howlin
To: steve50
They did time for that effort?
How did they get foiled?
20
posted on
07/24/2002 8:47:51 AM PDT
by
hchutch
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