Just a stupid and useless coincidence?

cohodk

Melting point of gold is 1947 degrees F. The high on gold was 1923. They say close only counts in horseshoes, but sure does seem kinda funky.

Must be some conspiracy.

Not trying to make light of the situation, just a pointless finding in my incessant research.

jmski52

Off 16.6% from it's high. What's the normal retracement after an alltime high?

CNBC guys are blaming Europe for not having it's act together. This is somehow news?

cohodk

I wrote in the other threads that last time gold peaked in 2006 and 2008, it dropped 23% and 34% respectively.

But this time is different.


I would contend that Europe does have their act together. They know more debt will not cure a debt problem. The same realization will come to the USA. This is what de(dis)inflation looks like.

The CBs cannot print their way out of this. They can only spread the pain out over time and the length of time is what will determine whether the world suffers deflation or disinflation.

jmski52

Make that 17.6% off it's high. That sure didn't take long!

I don't think I'm going to update my spreadsheet for a few days.

shorecoll

I just heard China bought 300 tons of gold in the last quarter.

That doesn't matter...I bought an ounce (4 x .25) yesterday so it's on a one-way trip straight down.