Sold Gold Coins Just in time!!!
Abagnale
Posts: 13
wtf is going on, why is gold dropping so much? I sold 2 gold coins at $420.00 now its $399. Gold should be going up but its not. why??I think its because nationsare choosing not to put there assets in gold, wich is dead money, but nations rather get things done quickly and rather have a currency rather than gold and save for a future that might never happen. In other words, live for today, becAUSE we may be dead tommorow!!!does this make any sence to you?
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Comments
So, when ya' going to buy 'em back?
What is your basis for your statement that gold should be going up? Just because the price has gone up you think it should continue without correction?
Could be the fact that a number of producers have opened new mines that were not profitable enough to work at last years gole prices.
Could be the fact that Germany has stated that they may sell 600 tons of gold from their current holdings in the near future.
Could be that the Central Banks are near to agreeing on an extention on their previous 5-year sales agreement.
Could be profit taking.
Could be safe-haven holders are feeling a little more comfortable that geo-political tensions are receding.
Could be funds believing that the price has topped-out and are selling so they can use the money to invest in a strengthening stock market.
Could be any or a combination of the above possibilities or some other factor, fundamentally, currently the supply is larger than the demand.
Jim