Gold plummeting

TheCoinGeezer

Already below $1800!

Konahead

Expect correction. I bought at $300oz so this really is of little concern. Buy the dip.

tydye

Cool!

Maybe gecko did find a genie

Baley

Oh My GOD!! The price of Gold is PLUMMETING.... all the way back to last week's price!!! AAAAkkkkk panic panic!!

DrBuster

When I went to my local shop last week he had finally re-flipped/priced all his raw old gold and re-sticker priced all the slabbed stuff. Stuff has been sitting in there for a long while, with prices adjusted up since I went in the first time from 1200~. Wonder if he'll re-price again with the drop?

I wonder if I went in there and offered him $1500 on some saints or liberties he's got if he'd bite...?

gsa1fan

BBN

think long term. All investments have daily ups and downs. All investments have upward and downward trends. It's possible for gold to have a downward trend and drop 25-30% in one year.

jmski52

I think that a dramatic drop in the price of gold will put some fear into the easy money traders who recently jumped into gold thinking that fast money always wins. We all need some time to make a psychological adjustment to higher gold prices.

Without an understanding of money and debt, this volatility really doesn't mean much whether it goes to $1,000 or $3,000. It is what it is.

Time to look, maybe a little prematurely - for another entry point.

fivecents

<< <i>Oh My GOD!! The price of Gold is PLUMMETING.... all the way back to last week's price!!! AAAAkkkkk panic panic!! >>

stevek

I tried to tell ya all...watch the political polls...Obama down to an awful 38% approval rating and in my opinion there's little chance of him getting reelected - a Republican president will be good for our country, good for business and our financial structure...but will be bad for the high price of gold...that could very well be what is being anticipated now...

...but who really knows? LOL

PerryHall

<< <i>I wonder if I went in there and offered him $1500 on some saints or liberties he's got if he'd bite...? >>



You might have to wait a couple of more days to get them at that price.

DrBuster

<< <i>

<< <i>I wonder if I went in there and offered him $1500 on some saints or liberties he's got if he'd bite...? >>



You might have to wait a couple of more days to get them at that price. >>



True, but I know they've been in there since 1200 gold, which were priced numis-cordingly at the time. Now they're bullion. The only gold he's moving is fractional 1/10th AGEs and Krugs and the occassional commem that comes in, and he doesn't get any of those in all too often (I ask every time).

COINB0Y

Weenies at FED pulled this stunt.

QE 3 is a GO!

lightcycler

<< <i>I think that a dramatic drop in the price of gold will put some fear into the easy money traders who recently jumped into gold thinking that fast money always wins. We all need some time to make a psychological adjustment to higher gold prices.

Without an understanding of money and debt, this volatility really doesn't mean much whether it goes to $1,000 or $3,000. It is what it is.

Time to look, maybe a little prematurely - for another entry point. >>



In the past I have been way early on that entry point. Patients pays off. Once it settles out at a bottom the market will have work to do just as silver has and will have some more work to do. Once that is done.........the next run should be something of beauty.

Spooly

<< <i>

<< <i>I think that a dramatic drop in the price of gold will put some fear into the easy money traders who recently jumped into gold thinking that fast money always wins. We all need some time to make a psychological adjustment to higher gold prices.

Without an understanding of money and debt, this volatility really doesn't mean much whether it goes to $1,000 or $3,000. It is what it is.

Time to look, maybe a little prematurely - for another entry point. >>



In the past I have been way early on that entry point. Patients pays off. Once it settles out at a bottom the market will have work to do just as silver has and will have some more work to do. Once that is done.........the next run should be something of beauty. >>

Mesquite

Good! When it reaches $1,500/oz I'll start buying again.

57loaded

positive gold does nothing positive for wallstreet

as COINBOY says QE III is a go

QE IV will show the Bernanke has been shooting blanks.

then i believe we could see something parabolic

pmcollectour

If an $18.80 stock goes to 17.25 in one day, does that shareholder panic ?
If 1880 gold goes to 1725 in two days, do gold holders panic ?

BBN

<< <i>positive gold does nothing positive for wallstreet

as COINBOY says QE III is a go

QE IV will show the Bernanke has been shooting blanks.

then i believe we could see something parabolic >>



I think the average American has become very aware of the Fed and Bernanke and that whole scam. I just don't see gold continuing some 20-40% annual jump forever.

Mesquite

A little perspective.

TheCoinGeezer

I'm not panicking, contrary to what some posters seem to have inferred from my initial post.
I believe this drop is temporary and probably makes it a good time to buy more gold, esp. if, as I expect, it dips into the $1600s.

roadrunner

QE3 or whatever we'd like to call it already started in July by dumping $155 BILL in one week "somewhere" to help lift the stock market while it was crashing.
$250 BILL has been pumped into the economy/banks in the last 4 reported weeks of M2. That's a faster rate so far than QE2.

roadrunner

derryb

Selling Mon and Tues on inside information?

pf70collector

Greek bonds at 43%. Just default already, Some of the QE3 will be used by the ECB. .Waiting for the domino effect for Spain and Italy. The Bernake is speaking on Friday. Lets see what gold does than.

ricko

Hang on to your gold... it will go back up, and beat the last high.... $2K gold on the way... Cheers, RickO