Attaboy Kitco - give it to me straight!

roadrunner

Nothing but love from Kitco headlines - and certainly less than the truth......

METALS STOCKS Gold falls as U.S. readies rescue plan for financials Metal tumbles as much as 7.6%, BIGGEST percentage LOSS in MORE THAN 25 YEARS. By Moming Zhou, Marke1watch Last update: 2:35 p.m. EDT Sept. 19, 2008Comments: 208NEW YORK (Marke1watch) -- Gold futures plummeted Friday as speculation that a Washington-engineered rescue plan could avert financial crisis reduced demand for gold as an investment haven. Gold for December delivery closed down $32.30, or 3.6%, at $864.70 on the Comex division of the New York Mercantile Exchange. The benchmark contract fell as much as $68.50 an ounce, or 7.6%, in electronic trading overnight, its biggest percentage drop in more than 25 years. Despite Friday's losses, gold ended the week up 13%, helped by the previous two sessions' rallies. The main catalyst for the reversal following two days of rallying in gold was the Bush administration's sweeping plan for isolating financial institutions' troubled mortgage-backed assets. Congressional leaders promised quick work toward a legislative solution.

The headline only pointed out that gold lost the most in 25 years. Smaller print later on mentioned it was up 13% for the WEEK on previous session rallies (you know, the biggest one day move in gold ever and $116 in 2 days). We're all looking forward to this "sweeping" (under the rug) plan that will make the need for gold obsolete.

Does isolating cancer in the body cure the disease?

roadrunner

jmski52

Congressional leaders promised quick work toward a legislative solution.

It's interesting what the one-party system can work out when the pressure is really on!

57loaded

all i can say is if something like this comes to pass, Congessional "solutions" i will be shacking up with DoubleEagle59

or sailing the San Juan Islands and planning my "honour farm"

"bank" on it Ben...

tincup

?? Am I missing something?? Kitco site says gold closed up over 2%??

rah1959

every place I look gives a different price for silver and gold....heck...even the front page of PCGS has a silver price taken from 10:34AM..this morning....seems to never update.....Kitco shows silver closed up on the New York day Market...yet says silver down for the day...

i know there are markets open everywhere.......but not sure where to get the bottom line dead correct price....I think there is no "correct" price.

Coinflation and kitco and pcgs never jive....and about 6 other sites I check regulary....ever jive.

Does anyone have an easy (am not a pc geek) and accurate PM price gizmo that will live on my desk top or bottom taskbar...that is constantly updating? I am still on dialup.....use WindowsXP...if that helps anyone.

Would save me from having a full page loaded sitting behind everytthing else I am working on if I could just take a peek at my taskbar and see silver and gold current prices.




RAH

fc

things are so volatile right now i gave up looking. i peek once or twice
a day.

all i can say is that for the short term the trend is up. i am curious
how high it can go with blockbuster news that has come out lately.

i really expected silver to go up more but it has failed to do so.
gold has done wonderful in my mind.

but after a few weeks of no news.. i expect it to slide again.

roadrunner

Gold was up 13% for the week......about $100. Rather startling by any measure used. That's very significant for any time over the past 37 years since gold has been floated. What Kitco also failed to note hours later while that headline was still up was that gold recovered more than $40 the rest of the day to negate the morning's "headline" news.

Now if the Dow was up 13% for a week....about 1400, don't you think there would banners and headlines screaming "Biggest gain ever for the Dow." Yet on Kitco, someone reading the headlines at the top of the news section only sees, "Gold's biggest fall in 25 years." Hey, you have to love those guys...even Nadster.

roadrunner