Gold Prices drop
Submitted by dry turnip on Wed, 03/19/2008 - 06:04
Gold prices fell $5.22 in the last 40 minutes, why the drop?
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That dude at goldline was
That dude at goldline was right about a stampede when gold hits $1,000, APMEX is totally shut down at the moment. They are only taking $5,000 min orders by phone.
Who cares.
Wait for it to make a bottom and then buy more. Remember, gold and silver are a store of your wealth, not an investment.
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"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
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It dropped for the same reason the Dow rallies in the last 2 min
Gold dropped for the same reason it has for the past 5 or so years. To keep you from trusting it as a safe haven. When economic news is bad, the PPT hits gold when all "logic" says it should go up. Usually only gold gets hit, not oil, stocks, wheat, etc.
It's frustrating, but totally expected if you've ridden the "gold train" for a few years. I've seen many people quit and sell gold and silver because they couldn't stand the ups and downs only to regret it weeks/months later.
Have the fundamentals for owning metal changed? Has the economy improved? No.
Yesterday, the Wall Street Journal wrote a "hit piece" against owning gold. If you didn't know better, you would be afraid to even look at gold and silver, let alone own it. The Murdoch-owned WSJ has been anti-gold for years. Why? Well, who is going to prop-up the market if we are all fleeing to the safety of metal? Don't buy into their lies and fear mongering.
Be right and sit tight. If watching the daily price of gold (POG) turns your hair gray, then don't watch. Put your coins away for few years and go walk the dog.
________________
Good luck to us all,
Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
Come on folks...you know commodities are munipulated !!!
Gold and Silver...as well as all the other metals are commodities and ALL commodities are highly munipulated. No such thing as a FREE market.
Also...profits are ONLY make when the market moves. Up...Down it doesn't matter, as the size and volume of trades done by the global bankers and market munipulaters. Once the commodity has reashed it's ceiling...it will be pushed down. Profits on the way up...profits on the way down !!! Dig it ?
Ok...Same goes for the petroleum industry. Once the price hit's what THEY see to be it's fesible ceiling and the competition ( solar, hydro, eoloic, hydrogen, etc. etc. ) these global munipulaters will allow the price of oil to return to levels that will BREAK these alternative energy investments.
Gold is at $250...it goes to $850. Then down it goes back to $250 and then back up again to what is now near $1000. Face it...unless you trade in the "breathing" of the market....yor likely to not see the benefit in trading in metals.
With the added risk of confiscation ( if enough is held to matter as a REAL investment anyway ) as well as the dificulty of defending it in case of a true revolt and social decay.
If you have a few hundred or a few thousand $$$ to invest or protect...then I guess it's not that big a deal...but if you have a more sizeable amount to place in something TRULY solid and productive investment...with no dips ! I advise checking into Costa Rican real estate or reforestation.
Discover Costa Rica
If you're trading gold
as the dollar falls and banks collapse, you are going to get locked out at some point. A friend of mine was told she would have to wait seven weeks for her silver order. Someday, you won't be able to source it in any significant quantity. The precious metal market is extremely small.
Gold is not an investment, it is money. Trade your bad "money" for the good stuff and hang on to it.
I read "advice" from traders here regarding gold and I just cringe. Take your precious metal advice from some of the old "gold bugs" on this site -- take your stock trading advice from traders.
My opinion.
________________
Good luck to us all,
Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
I'm not certain anyone here
I'm not certain anyone here takes seriously the opinions of others that could affect their nest egg... but you've given good advice here.
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"The main thing that I learned about conspiracy theory is that conspiracy theorists actually believe in a conspiracy because that is more comforting. The truth of the world is that it is chaotic..." —Alan Moore
I believe most of the action
I believe most of the action on the boards right now is due to huge, huge sums of money moving around attempting to squeeze some kind of value out of the current mess we're in. It's plain old market manipulation and sheeple running in circles, chasing their tails.
..................
"The main thing that I learned about conspiracy theory is that conspiracy theorists actually believe in a conspiracy because that is more comforting. The truth of the world is that it is chaotic..." —Alan Moore
Yea, Hopefully the fed
Yea, Hopefully the fed manipulation will drop silver back down another five bucks. That would be awesome.
OK, lets get gold down to
OK, lets get gold down to $925 for Asia... once we get there for them, they will most likely enter the market and drive it back to $975 than on friday it will go to $995. As stated on another string, I sold at 1025. My trans are as follows at bullion vault placed last night:
bought @ 982
bought @973
bought @ 957
bought @ 948
open @ strike of
936 and
926
DROP another $14 at least please!!!.... If I were waking up in Asia this morning and a trader... I would sell it down to $910, then reverse and buy at $10 intervals.... Lets see what they do today:
On the USD front? Look for a reversal of the gains today in the next 2 days. Target? 71.40 worst? 70.80...
Silver to hold at home? Buy ALWAYS on the dip... this is a great dip, i will be in utter shock to see it drop below $18, but if so, it wont go more that .25 below ....
Tim
Join the PPA for Free
www.pokerplayersalliance.org/
Referred by Tim Kelly TXPPA
http://www.rxforliberty.com/10/
Cedar Park, Texas
5 Aug 2007
Post Script: Can someone
Post Script: Can someone please give me the address of the following BANKS?
Lehman Bro
Morgan Stan
Bear Stearns
I would love to open a bank account with them... I am watching BloomBeltch TV and they are calling them banks.... Funny, I would like a checking account please....
Tim
Join the PPA for Free
www.pokerplayersalliance.org/
Referred by Tim Kelly TXPPA
http://www.rxforliberty.com/10/
Cedar Park, Texas
5 Aug 2007
The Fed thought they were commercial banks too
Since when does the Fed make a cash drop on an investment banking firm? How do you spell panic?
JP Morgan is one of the
JP Morgan is one of the shareholders of the Federal Reserve Bank..... Interesting that the Federal Reserve used taxpayer money to enable one of their shareholders to make an acquisition. So very nice of them. Seems like a HUGE conflict of interest to me.
...
Mine's a little simpler
bought at @ 654.
BTW, the yen and the Swissie are bucking the trend. The yen is up bigtime.
Nice move, hold on to it for
Nice move, hold on to it for life then... I daily trade so thats why I posted what I did... in on the drop, out on the rise... Ho Hum... making money makes me tired.. :o)
Tim
Join the PPA for Free
www.pokerplayersalliance.org/
Referred by Tim Kelly TXPPA
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Cedar Park, Texas
5 Aug 2007
What a performance of manipulation today....
They don't even try to hide it anymore. Gold did go up 5 bucks in after hour trading. I appreciate the post telling us to quit comparing gold to the price of the dollar. We are so brain washed!
It appears gold is going back and forth from the West to Asia and Asia to the West.....one way in the night, the other way in the day.
These guys are so obvious.
Deb
Nice post.
________________
Good luck to us all,
Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
Many Reasons
The PPT nay be in full action......and possibly many people are bailing out to gain liquidity. One thing after watching Gold and Silver and trying to understanding how things work is it goes up and up and up then backs down 30% or so of its gain and then gets ready to ramp up again way higher then its previous high. NOTHING has changed in the economic markets....except this drop gives you one more chance to get into precious metals at bargain prices (My opinion). Do you think the crisis is over? Do you think inflation is over? Do you think the dollar is going higher over the next 6 months?? If you answered yes to all 3 of these...then send me your email address when you are ready to sell all of your precious metals. I am 100% buy. If you think silver and gold will go straight up....you are wrong. We are in untested waters. Nothing like this has ever happened before....at this level in regards to the pile of economic problems this country is witnessing. We are in VIOLENT times in regards to the financial sectors. I am not an expert...but I read and read and I read again. The dollar is going to fall.....how can it not? When the dollar falls, gold and silver skyrocket. You must understand that when you "switch out" your fake Federal Reserve Notes for "Real Money" which is silver and gold....you now have money. If you lock yourself into watching "How much you have made", you are not thinking correctly because you are still in the mindset of trading your "Real Money" back into federal reserve notes. Silver and Gold is real money, and the daily or hourly fluctuations in the markets need to be ignored. You will drive yourself insane. If you buy silver and gold, then just forget about it, if you can. Ask yourself a question...."Is the economy good?". Do I have an answer why gold and silver fell so hard today? NO...I can give my best educated guess...
Price Protection Team
Short Sellers Getting Out
Big buyers grabbing liquidity to cover other investments
The list could go forever on what I think...
Just my 2 cents.
How would short sellers
How would short sellers getting out cause the price to go down? Wouldn't the short sellers need to be buying in order to cover their positions? Buying would create more demand which should increase price. Maybe those short sellers were shorting even more?
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Wide Swings Always Indicate An End
Wide swings always indicate an end. Kind of like rocking a row boat. Each swing back and forth tensifies until the boat takes on water and sinks. The Dow was just up 400 point a couple of days ago and right now it's down 300 and dropping. The sell off in gold today is just World Wide panic among financial institutions. It's very fund manager for there self, is the cry heard. Right now, hedge and pension funds in particular are on the ropes and hanging on for dear life. They need large sums of money as quick as possible to cover other losses, so basically they are selling those things that have made money for them. This is a death spiral downward. The World of Fiat currency is failing, all through history it has failed. Then comes the real rush to Gold, Silver and other real tangibles when the average person begins to panic and begin purchasing all of the gold and silver they can put their hands on. The dollar in particular, is being rejected all over the World. This includes the average person on the street and the small shop owner. I strongly suggest holding on to these commodites. Think of it as a buying opportunity and purchase additional amounts as the price falls.
The dollar sure is being
The dollar sure is being rejected. Even countries that the U.S. is giving free money to do not want it in U.S. dollars. Israel has recently demanded that we GIVE them their free money in Euros. Our response should have been that if they want Euros to go get them from the Europeans! What nerve to demand ANYTHING when we are giving them free money and have been doing so for so long. In my opinion other countries shouldn't be getting a single cent from US - it's their turn to start paying us back now.
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STOP ALL FOREIGN AID - Add This New Plank To The GOP Platform
Has anyone stopped to wonder why our Government and the Fed has not even brought up the idea or suggestion that we stop all foreign aid immediately?? Maybe this question should be asked by RP in his next interview. Maybe we, as a group, should begin asking radio talk shows and CSPAN this question??
Hold on to Bear Stearns and
Hold on to Bear Stearns and sell all your GOLD!!!!
j/k
Manipulation of Gold
The word around town is that all kinds of things are being done right now to bring the price of gold down. There is leasing and dumping, etc. etc. going on right now. None of it will keep it down for long IMHO. As Dr. Paul said once, the price of oil in gold is stable. The dollar is dropping in value as opposed to gold going up. I kind of think of it as a negative dollar bubble.
A $50 drop in the price of gold?
Who can explain this?
Tune in
to jsmineset.com for the scoop on what's happening today. There is a mighty effort to suppress the price of gold. Who would do such a thing? Jim, Dan and Monty will tell you straight up.
Hi kim...
Hello from sweetwater.
I saw your post the other day about your 401K. Sorry about your losses. My husband just got his statement recently also. He works in MV. He decided a few years back to stay out of the US offerings for his 401K. See if [Euro Pacific] is an option for you. Can't discuss the specifics, but it wasn't losses! :)
Are you considering buying gold?
I checked into Euro Pac
I'm between a rock and a hardplace. I have my retirement in Dollars (MM) right now thanks to my son's headsup last year. I want to transfer my IRA and Roth to Euro Pac but my concern is that their trade commission is 3.5% which will cost me a substancial amount right off the top as soon as they invest my money market dollars. Isn't this a bit steep? Someone else's thoughts please because I'm trying to make a decision. Thanks!
hey sweetwater!! Yucky weather
I have most of my money tied up in that stupid 401k. I wanna buy gold but I cant seem to find a loophole to get my money. My employer has went so far as to put up a notice stateing no more hardship loans, period, can he just cut people off like that? I will look into Europacific if I can figure a way to move my money. I thought I lost a lot, but others where I work lost up to $55,000.00, That totally freaks me out to think all my money I have worked for in twenty two years can be gone in a year.
HOLY COW!!
I can"t believe it is even "LEGAL" for them to refuse to let you take a loan!! I guess all 401's are different. Alot of that money is from your contributions!! I know at my husbands Co., you are only "allowed" one loan at a time. When that one is paid, then, you can take out another. I think you can get it out, (opt out) but there are heavy penalties and tax issues to deal with. I hate to see that people have put their hard earned cash into something that sounded so good and then get suckered out of it. We're concerned that everyone's $$$ will just vaporize............... Maybe the penalites are worth it, at least get some type of gain instead of waking up one morning to realize it's all gone....POOF............
WOW, twenty-two years at one company!! That in it's self is amazing !With all the companies moving "off shore" so to speak bc of NAFTA/CAFTA. Not to mention the hundreds, maybe thousands of companies that have thrown in the towel.
PS: If you find that loophole, let us hear about it......... :)
You're close to Montvale ? We use to be on six mile :)
My husband
Works at Denso and they have the same plan as your husbands. I work at one of the few textile mills left. We are just buying time there. I used to live in colonial heights right off of Montvale, now I live in Friendsville. I sure miss the six mile area, really peaceful.