Gold Plummets

Profit taking and subsequent buying at bargain price.

Metal Bid Ask
Gold $1,163.80 $1,164.80 ($4.20)
Silver $18.29 $18.34 ($0.18)
Platinum $1,439.10 $1,449.10 ($2.60)
Palladium $371.60 $376.60 ($2.70)

Updated:12/7/2009 12:23:38 PM CST

Maybe they're printing more gold like there's no tomorrow. That would decrease its value.

www.garyjohnson2012.com

broker's fee up, making gold more expensive?

US Mint Runs Out Of Tenth-Ounce Gold Coin Inventory Day After Its Release For Broad Purchase
Tyler Durden's picture
Submitted by Tyler Durden on 12/07/2009 11:01 -0500

The sad state of affairs in gold land: the premium for the 1 ounce Gold Eagle coins has expanded from $59 to $99, Krugerrands are not available for sale in most places, and this most recent development just out of the US Mint: the one-tenth ounce American Eagle inventory at the mint has been depleted, almost instantaneously after the coin was made available for purchase. This occurred the day after the mint announced the release of fractional Eagle Gold Bullion Coins in one-half ounce, one-quarter ounce, and one-tenth ounce weights. As Coin News reports:

The Mint sold 345,000 coins to its authorized purchasers for a total of 58,000 ounces of gold. That, without a single one-ounce size leaving Mint doors.

Sales of 2009 one-ounce sized gold eagles are expected to resume in "early December" while the production of the 2010-dated American Eagle Gold and Silver One Ounce Bullion Coin are expected to begin in Jan, 2010.

http://www.zerohedge.com/article/us-mint-runs-out-tenth-ounc...

A simple re-balancing of longs and shorts. Nothing moves up in a straight line. In the short-term, any move below 1070 should raise warning bells, as that was the last point from which gold broke higher from. A full retracement of that move and subsequent breakdown might signify a change in the short term fundamentals. But, as long as the dollar carry trade re-balances, pushing the dollar higher,gold will be pushed lower.

I'm looking at 1110 to 1090 region where it should be safe to move back into gold/gold stocks for trading purposes, if it hold these levels that would be very bullish. If you are buying for investment/insurance do not worry, buy when you have cash to convert.

Ta,

be glad it is... buy more at a lower price..

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

THE SEVEN AIRCRAFT FROM ABROAD WERE FOLLOWED BY AN EIGHTH PLANE
Further crucial information has arrived about the seven aircraft which, as we reported (below) when this analysis was first posted, flew into the United States this week. The planes contained inter alia representatives of the payee countries and World Court Justices, officials, reliable IT specialists and bankers. The country payee representatives were flown in accompanied by this entourage in the following circumstances:

• The World Court Justices and personnel were on hand to swear all concerned in on US soil. Under international law, the swearing-in of those concerned has to take place on the soil of the country against which the Writ of Execution, liens and other powers have been handed down.

• It is understood that this swearing-in process took place at the US Department of Justice.

• The EIGHTH PLANE that we have now learned about, contained INTERPOL OFFICERS, who were required to be on high alert in case of any further sabotage and obstruction, in which case the full rigors attending legal implementation of the Writ(s) of Execution and the Chinese Lien on the US Treasury, the Federal Reserve etc., would proceed without further ado.

That would have resulted, for starters, in the immediate de facto freezing of the US dollar system, followed by consequences such as those outlined in general terms below.

---------------------------------------------------------------------------------------
THE DOLLAR RISES: AND THE 'MAINSTREAM' MEDIA HAVE NO IDEA WHY
On Friday, following the President's signature of the documents on the Thursday evening, the US dollar leapt on the foreign exchange market. It is quite clear from Saturday's media reports that the UK 'mainstream' press has ABSOLUTELY NO CLUE WHY THIS HAPPENED.

For instance, the Times waffled: 'The dollar leapt yesterday after a surprise fall in November's unemployment rate to 10 per cent, raised hopes that the US jobs market had bottomed out. US employers cut 11,000 jobs in November, far fewer than the 125,000 losses economists had feared. The Bureau of Labor Statistics revised down the number of jobs lost in October from 190,000 to 111,000. The dollar surged as investors bet that slowing job losses would prompt the Federal Reserve to increase interest rates, making the currency more attractive'.

THIS IS ALL COMPLETE MAKE-BELIEVE AND BALONEY. That's not WHY the dollar rose. The dollar rose AFTER THE PRESIDENT SIGNED OFF because, as a consequence, the necessary previously blocked funding TOOK PLACE [see above]. But of course, the 'mainstream', HAVING FAILED TO FOLLOW THIS STORY ALL ALONG, has absolutely NO CLUE WHAT'S HAPPENED.

This fact was further revealed (not that we need any confirmation) in an article by the respected financial correspondent for The Daily Telegraph, Ambrose Evans-Pritchard, published on the 3rd December, in which he made the following statement: 'No other coherent narrative of the crisis has been put forward'. We rest our case. The 'mainstream' has had its head in the sand, has ignored the biggest financial corruption story in world history, and is floundering pathetically as a consequence.

We shall now be watching with interest as the 'mainstream' starts to wonder why on earth, all of a sudden, come the New Year, the overall outlook appears to have been transformed. On the basis of observed experience to date, it won't have a clue why that will be happening, either.

In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot.
~Mark Twain

Nothing goes up forever unabated.

Gold was up 14% in November alone...it has dropped much less than that I think it's not plummeting it's adjusting...temporarily.

There is no worse tyranny than to force a man to pay for what he does not want merely because you think it would be good for him.
-Professor Bernardo de la Paz, The Moon is a Harsh Mistress
Robert A. Heinlein