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$50 dollar DROP in the price of Gold?
Who could explain this?
watch the London fix price
Personally, I'm going to watch it to see if it can make a bottom. Then, as they say in Texas, I'm going to back the truck up. Yeah, getting close to a buying opportunity.
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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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Gold / Silver Should Be Veiwed As Long Term
If you have bought gold- ya did good. Yeah it woulda been better to buy in when it was cheaper (I started buying in 2001 when it was $265) then sold in 2004 when I needed the money. It shouldnt be veiwed as a "hot stock". You now have something of honest value- it will ride out the hills and valleys. If at all possible try not to see it as trying to make a quick $50 on a good day- but as a solid place to keep your wealth : ) Itll go back up.
Gold does well against Fiat Currency
As we back currency with Gold -- the Gold fluctuations deminish.
In a Free-Market Gold is like a Utility stock, it's safe. As we move to a Fiat Currency and Fiat Credit Monetary Policy then Gold has mad flustuations.
If CFR-Obama, or CFR-McCain, or CFR-Hillary get elected then Gold will have mad fluctuations.
If Liberty-Paul wins office then Gold will go up then begin to fall as it seeks its true equilibrium point as the dollar grows in value. When the dollar was one for one Gold was "fixed" (the biggest mistake in the former "Gold Standard" at $25 - $35 per ounce. Now that the dollar is worth approx $.04 in 1930 dollars Gold is trading near a thousand.
So you have to understand the Monetary and whether we are Fiat or Gold-backed.
Ron Paul would not only have Gold-Silver but he'd push for Competition in Currency and no price setting. This brings out the Communistic Idealism of a "balanced playing field" only we get there through free-markets, faith and natural selection as opposed to "force."
Octobox
Wisdom is the anticipation of consequences!
*&^ Constitution --- Constitutional Rationality
have you read the comments
on the other current thread--"Gold Prices drop?" ?
yes
Fortune Favors the Bold
sorry for the double post, didn't see the other one
Fortune Favors the Bold
I'm no expert
But probably. I bought $1000 gold and 220 silver, now I realize I should have bought the opposite, mostly silver.
Edit:
I read the other post and prices are still dropping so hold on it, I don't know enough to give advice.
"Endless money forms the sinews of war." - Cicero, www.freedomshift.blogspot.com
just make sure you are in it for the long haul..
and diversify ...
these little fluctuations will be long forgotten when you are holding real money.. I am slowly switching over... hallelujah
cw