Gold's Crash - Coin Community Forum

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Author	Replies: 5 / Views: 1,094
junior e Pillar of the Community United States 931 Posts	Posted 08/11/2011 8:40 pm I love it. All day on CNBC thet were all like, "Whew, thank God that gold thing is finally quashed!". Gold is currently very happily thumbing it's nose at them sitting at a lowly $1755. They killed it all right! Report this Post to the Staff

rjkingston Pillar of the Community United States 642 Posts	Posted 08/11/2011 8:53 pm That Gold 'Thing'? Lol, wow. It's been posted here previously, for how much the debt ceiling was raised, Gold should settle around $1850, $1900 ounce. I don't think the Gold 'Thing' is going to end in our life time. Report this Post to the Staff
Silverhawk74 Pillar of the Community United States 3670 Posts	Posted 08/12/2011 12:21 am Yes, gold is taking a spiraling nose dive STRAIGHT UP, as it is struggling at $1763 an oz., lol.... They might as well give up on tryin to keep it down, you can't keep a good metal down, lol. It was flyin around all over this Universe before this planet formed, or any of the politicians or big players with motives to keep it down came along, and it will be around long after we are all dust an forgotten, including the idiot politicians of the early 21st century which pushed all the buttons which shot it through the roof to begin with.... Edited by Silverhawk74 08/12/2011 12:24 am Report this Post to the Staff
desertgem Pillar of the Community United States 860 Posts	Posted 08/12/2011 12:44 am I agree that not much has changed in the underlying reasons for the increase in gold, but perception has a lot of effect on the price. If the perception that Europe is solving their problems and the US stock market is safe and on the verge of a "not to be missed" boom due to stashes of cash, after a few days of consecutive gains of several hundred points, much of the gold stock ( GLD, etc.) will be sold to buy GE, AAPL, etc. So far this week, we haven't seen it as it has oscillated up and down by 400+points, so gold hasn't dropped too much. If you are an investor in many areas, you may decided to sell gold, play the market for a while, and then get back in gold when the market stagnates. Many here of course would rather just ride gold down and up, but it is not the actual reasons ( such as debt, jobs, etc) that determine the price of gold, but the appearance and belief of the investor towards gold. The "gold-bug" or gold accumulators are just a very small part of the gold market and by itself can't make a support level for gold. IMO. Edited by desertgem 08/12/2011 12:45 am Report this Post to the Staff
mitchhailey Pillar of the Community United States 1150 Posts	Posted 08/12/2011 01:23 am DesertGem, Those points are right-on, and common sense. However, the 'gold-bug' understands that the dollar is on it's death bed and Europe's economy is far from fixed. The wise gold and silver investor holds physical metal because they understand the fundamental problems with worldwide economies may not be fixed, and this bull market is far from ending. Report this Post to the Staff
biggfredd Rest in Peace United States 9104 Posts	Posted 08/12/2011 02:41 am Silver took a hit when they raised the reserve on contracts. They tried it with gold, only to find the gold market is many times larger and less vulnerable to their petty tinkerings. Report this Post to the Staff
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