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Gold Investors Race to Exits - Price Collapses $100

ABC News: Gold Investors Exit Amid Price Collapse

Apr 15, 2013

Morning Business Memo…

The biggest story on global financial markets today is the collapse of gold and silver prices. Gold is down more than $90 an ounce since Friday – a fall of about 7 percent. The price drop comes on top of last week’s 4.7 percent tumble. Silver prices tumbled 8 percent, or $24 an ounce. Copper is also falling. The reasons for the plunge are linked to the recent rise in the stock market, the slow, steady improvement of the US economy and the recent strength of the dollar. Crude oil futures have tumbled on global markets, down to less than $89 for West Texas crude, the lowest price since December, 2012. For years gold bugs have predicted economic apocalypse with hyper-inflation and a collapse of stock prices. That simply hasn’t happened, and many investors have given up on gold, shifting funds out of precious metals. Last week Goldman Sachs issued a report, predicting gold prices would tumble. More volatility is expected in the days to come.

Read more: http://abcnews.go.com/blogs/business/2013/04/gold-investors-...

MarketWatch Story: http://www.marketwatch.com/story/gold-falls-sharply-copper-h...

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More dump and pump!

Dump the cash and pump up the silver & Gold. Make those piggy banksters really squeal all the way home.

Gold standard: because man can not be trusted to control his greed

funny who terroist attacks when the price of gold/silver drops

coincidence?

they are trying to dismantle the Chinese gold backed currency

China is trying to become the new world currency, it's gold backed, ths is a way to thwart it.

GOOD TIME TO BUY BUY BUY!!!!

WHOO WHOO!!!

Think China

This is happening because today China announced lower than expected GDP growth of 7.7%. The markets assume this means a global economic slowdown is coming. The assumption is that China will buy less Gold/Silver, so markets are reacting accordingly. In reality, the leaders of China are not so short-sighted.

China will wait for the bottom, then buy every kind of asset at depressed prices. They are creating an opportunity to unload the 3 trillion US dollars held by their central bank.

Think clearly. This isn't Wall Street. Chinese authorities are in control of their own economic numbers. China is pushing the price down in order to accumulate real assets (commodities, stocks, real-estate). It's a classic Rothschild smash 'n grab. The pigs on Wall Street are about to get slaughtered as the world's wealth is relocated to China.

MSM says sky is falling

Keep stacking :)

Oh Good! We've successfully averted the economic apocalypse!

Thanks for the info ABC. I feel so much better now. =)

I Would Say Now Is The Tme to Buy More Gold & Silver

I Would Say Now Is The Tme to Buy More Gold & Silver

Dump cash for Gold, I am...

Many times Gold & Silver plunge because the powers that be dump tremendous ammounts of bullion on the market so as to artificially create a lower asset value.

Bernanke and the banking elite want us in useless paper money which they own. Yea, it says Federal Reserve Note. The paper belongs to them..

Gods money belongs to us. Yea, Gods money can be counterfeited. Gold is Gold and unseless paper is unseless paper..There is only so much of it in the earth. But paper can be printed until it chokes and fills the oceans..

Yes, Bernanke told Ron Paul on C-Span that Gold is an asset not money..Then why do the richest men in the world covet and hoard it.

typical abc news.. lying

typical abc news.. lying crock of crap.

Cyril's picture

L M F A O ! ! ! :D BWWAHAHAHAHAHAHAHAHA ! ! !

L M F A O ! ! ! :D BWWAHAHAHAHAHAHAHAHA ! ! !

"The reasons for the plunge are linked to the recent rise in the stock market, the slow, steady improvement of the US economy and the recent strength of the dollar."

Y E A H,

R I I I I I I G H T ! ! !

Thank You, ABCNews ! GREAT ONE !

:)_)

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

There's a time to buy and a

There's a time to buy and a time to sell. It's as simple as that lol

The world is my country, all mankind are my brethren, and to do good things is my religion. Thomas Paine, Godfather of the American Revolution

"The reasons for the plunge

"The reasons for the plunge are linked to the recent rise in the stock market, the slow, steady improvement of the US economy and the recent strength of the dollar." Of course, it's due to the improvement in the economy! We have the lowest particpation in the labor force since 1979, 25% of Americans are on food stamps, cost of gas at the pump is high and food prices are high but yeah everything is fine!

Buy it while it's on sale

Get what you can, and if it drops 50%, buy twice as much. One thing about metals throughout history is they don't lose their value completely, unlike paper currencies that do.

It's not a physical market.

It's not a physical market. It's a commodity like port bellies. How many people take delivery of pork bellies?

If you know why you're buying great, most are clueless and most lose there money and never understand why. Kind of like americans and freedom. Most cannot even define it and that's why it'll never be a reality again. Least not in this lifetime.

But hey, I'm only in the business for 30 years. Good luck!

The world is my country, all mankind are my brethren, and to do good things is my religion. Thomas Paine, Godfather of the American Revolution

I stopped speculating 2 years ago and bought physical

I paid 1750 and Im not worried.

Michael Nystrom's picture

Gold fell 50% in about 3 months in 1980

Chart: Price of Gold, 1980 (from a site I ran in a previous life :)

This was right after its 1980 closing peak of $850, and spike peak near $900.

The decine was swift and pretty brutal.

Here is a long term chart of Gold's current rise. Charts are fractals, and the psychology that creates these patterns recur through time.

The most recent spike high was $1900. If we have another 50% drop, that projects a low of $900 - $850. which should serve as temporary support.

I don't think the panic is over, and I wouldn't suggest trying to catch a falling knife.

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.

I Don't See A Panic Here

Just normal market behavior for any leveraged commodity traded on a major exchange. You're right about the charts, but the route to lower prices may be less exciting than it was in the 1980s. I remember the craze of people rushing to buy at $800 in 1980, the latest spike in prices didn't have that same degree of public captivation or participation, so I think the unwinding will be less dramatic and less steep.

big difference between 1980

big difference between 1980 and today. You don't have a Paul Volker as Fed chairman raising interest rates. The debt was a pittance compared to today. And many more factors to numerous to list.

I concur.

I concur.

call the physical bullion

call the physical bullion dealers and ask for the ratio of buyers to sellers. I'll guarantee it's in the 50:1 neighborhood.

nobody is selling unless they HAVE TO. Only sellers are paper pimps at the Fed. Rsrv.

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul

The bullion coin dealers are

The bullion coin dealers are a small part of the market. The gold ETFs made it easy to buy gold (stored as good delivery bars in a vault) and contributed greatly to the gold boom. But they make it equally easy to sell, and as people panic out of the metal selling begets more selling.

That might have been the case

That might have been the case on Friday or Thursday, but IF this is orchestrated then it is designed to destroy the physical market as well, and it will succeed.

There will certainly be a great opportunity to buy, could be right now, might be in a month or two, but Goldman/FED/White House want the price of physical to collapse so they can by it up and sell the stock market.

Perhaps this is their way of punishing China and Russia for attempting to establish a bank behind their backs?

lol i love the completely

lol i love the completely ridiculous reasoning. somebody with zero information on financial networks clearly got a job that is out of their depth.