Gold just fell off a cliff

Following a slow weak the PPT is back at work...with ground to make up. Note that rapidly dropping gold prices usually precede the FED chief speaking. Other than him being announced as a 6th grade spelling bee champion, I wasn't impressed with anything BB had to say, apparently neither were the markets.

roadrunner

<< <i>PLOP! >>



Ker PLOP!

I have been on roller coasters, that

were not as scary as the ride with gold.

The sky is falling....the sky is falling

drop some more!!!

<< <i>

>>



Dang, now that's a cliff!!!!!!!!!!!

..........As of 8:20pm EST anyway!!!!


edited to add: One of the best Thread Titles ever!!!!!!

Well, gold was "falling off that cliff" in June of 2008 at $905/oz. (when this thread started) and it's been falling up the mountain ever since.

Look Out Above!!

Too many people were wrong about gold in 2008. So what that the prices went up and down at the $700-900 per ounce. Gold has been in a yearly upward trend, not a bubble that was destined to burst. Its been 2 years guys, and 2008 was the best time to spend all of your money on gold because the returns were excellent last year and even more so this year. How long will this bull run last? I don't know. Will gold drop anytime soon? Well, unemployment is still high and the FED is leaning towards quantitative easying in November, so it will stay this high for now. After November, I think we will have to see the world economy changes.

Keep in mind that in the 1920s, an ounce of gold bought you a really nice suit. Right now, an ounce of gold will buy a nice Armani or Hugo Boss suit, but you might have some change left over. I think there is some speculation built into the current gold price, but it can't go down to $800 soon. If it does, then prices for consumer products will also by very low.

<< <i>Too many people were wrong about gold in 2008. So what that the prices went up and down at the $700-900 per ounce. Gold has been in a yearly upward trend, not a bubble that was destined to burst. Its been 2 years guys, and 2008 was the best time to spend all of your money on gold because the returns were excellent last year and even more so this year. How long will this bull run last? I don't know. Will gold drop anytime soon? Well, unemployment is still high and the FED is leaning towards quantitative easying in November, so it will stay this high for now. After November, I think we will have to see the world economy changes.

Keep in mind that in the 1920s, an ounce of gold bought you a really nice suit. Right now, an ounce of gold will buy a nice Armani or Hugo Boss suit, but you might have some change left over. I think there is some speculation built into the current gold price, but it can't go down to $800 soon. If it does, then prices for consumer products will also by very low. >>



Listening to Jonathan Rose again, eh?

One minute it was up +$5.00 and when I refreshed it was -$22.00. (Of course, I hadn't refreshed for a couple hours.) Gee, I suppose that the economy is better now. Something tells me that it's a non-event.

Positioning and profit taking in front of QE2 remarks @ 2:15pm......The dollar is pretty flat. A NICE shakeuot would be AWESOME. Don't forget QE2 is baked into the price of gold. How much QE2 is another matter. The Tea Parties victory yesterday and a demand for a strong dollar could be a SMALL issue as well............JMO.MJ

FYI $20 up or down isn't a major move anymore with gold trading at $1300+. A 1.5% move really isn't much when you are talking about a thinly traded market like gold and especially silver. They can swing at a 3%-5% swing when they become really jumpy.............Hold onto your socks

MJ

Me too. I miss Santelli when I'm in China...............MJ

Temporary thing on misperception. Like reagan who ran on a "smaller" government platform and then proceeded to spend money like a drunken sailor to wherer we are still just making interest payments? Yeah well so much for smaller government. MOST of the glen beck type tea partiers including rubio here in Fla are merely neocons with a seemingly new pitch.

Rand Paul is the real deal but his "tea party " was started by his father. In fact there was a giant money bomb on the date of the actual Boston Tea Party for Dr Paul and that's when the tea party began. It has since been corrupted by the likes of sarah palin and glen beck who are FAR from libertarians and in fact neocons.

But the sheeple, too ignorant to do anything have cast their vote for these guys and watch the debt continue to mount. Sad really.

Make money. That's the best therapy there is. No matter what these lowlife's do, set your own course and be happy. Voting doesn't do sheet. If it could, they would quickly find a reason to ban it for either our safety or the children.

<< <i>Depending on today's Fed wording, "QE2" could morph into "Titanic." >>



Hopefully it will be more like the SS Minnow. A guy can dream can't he? MJ

cohodk, I want some of whatever it is that you are smokin.

<< <i>The correct move now is to raise rates. The economy isnt going to improve for years anyway, so why waste more money. Its time to reward the savers, as it is they who will pull the economy from the brink. Reward the savers Uncle Ben, stop punishing them. >>



I agree with you. MJ

Yee, doggies! Lookit that silver go!!!!

I don't know all that technical stuff. Here is some useful information for climbers and hikers.

This is one of my favorite thread titles for the past couple years.

<< <i>

<< <i>

<< <i>Here we go again!!!

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Now this is a cliff, it was up 15 minutes ago, down 40 15 minutes after NYSE opened, under 800. >>



And again!!!!!!!!!! >>



And again!!!!!!!!!!!!!!!!!!!!