The drop is from the realization that we are entering a recession. This will trigger QE3. Stackers hold your hand, add to the stack on the way down and on the way back up. Paper players find a good exit and be prepared for re-entry at a lower price. I dumped AGQ at $231 this morning and will buy it back at a bargain. Keep an eye on VXX.
"Education is not the learning of facts, but the training of the mind to think." - Albert Einstein
<< <i>(Kitco News) - Comex gold futures prices ended the U.S. day session solidly lower and nearer the daily low Thursday, after early on scoring another fresh all-time record high of $1,684.90, basis December futures. Long liquidation, much of which was profit taking and margin-call selling, hit the gold market in late-morning dealings. >>
<< <i>WSJ reports drop off due to people selling gold to cover margin calls in other markets. >>
Profits are being used to cover losses. This is the problem with hedging, the profits get offset by the losses. The best way to cover your bets is to not gamble.
"Education is not the learning of facts, but the training of the mind to think." - Albert Einstein
<< <i>Back up the truck for this buying opportunity! >>
I wouldn't say a fall from $42 to $38 and change is a time for 'backing up the truck'.
I get what you mean though.
It has me thinking about buying.
I'll back up the truck if it hits $30 or lower. >>
Did you the last time, a couple months ago?
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
<< <i>WSJ reports drop off due to people selling gold to cover margin calls in other markets. >>
Profits are being used to cover losses. This is the problem with hedging, the profits get offset by the losses. The best way to cover your bets is to not gamble. >>
The Dow will go to zero without cash infusion and it will seem the dollar is going to zero with it.
You can't fool mother nature.
You can't run a country without an educated populous and you can't keep taking out far more than you put in or will grow naturally.
We should be addressing the fundamental issues rather than predicting when the dollar really will hit "0". >>
Could be QE along with the FED moving it's short term paper to long term to mitigate a drop in the USD. Simply printing money is not a solution, or the message the FED wants to send if it wants to keep the dollar up and a handle on inflation, especially after the damage the debt hike fiasco caused.
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
MJ, at what point would you change your mind and call a "crash?"
roadrunner >>
Back to back limit down days (20%) or close to that. I would consider that a crash...............Gold pulled back 1% today. Silver, got an expected haircut . But we've seen it before with silver. I mentioned it in the "Financial advisor" thread yesterday. Silver gets taken to the woodshed on industrial selloffs with vengence. Gold is a currency, silver is not. It's just the way it is....................JMHO.MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>for every seller there's a buyer, and for every buyer a seller >>
>>
True. The thing that causes price to move is an imbalance between buyers and sellers. That happens when they are motivated one way or another. MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
MJ, at what point would you change your mind and call a "crash?"
roadrunner >>
Back to back limit down days (20%) or close to that. I would consider that a crash...............Gold pulled back 1% today. Silver, got an expected haircut . But we've seen it before with silver. I mentioned it in the "Financial advisor" thread yesterday. Silver gets taken to the woodshed on industrial selloffs with vengence. Gold is a currency, silver is not. It's just the way it is....................JMHO.MJ >>
I'll agree. You will know its a crash when you look around in disbelief, realizing that what took 2 years to build was lost in a few weeks. And realizing that it will be years again before previous highs are again attained.
Back to back limit down days (20%) or close to that. I would consider that a crash...............
Like going from $22 to $9 in 2008. As I type, gold is back up to $1,664 and change, up almost $16. Silver is peeking back out from behind the woodshed.
Q: Are You Printing Money? Bernanke: Not Literally
Schmitz7
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"Education is not the learning of facts, but the training of the mind to think." - Albert Einstein
<< <i>Back up the truck for this buying opportunity! >>
I wouldn't say a fall from $42 to $38 and change is a time for 'backing up the truck'.
I get what you mean though.
It has me thinking about buying.
I'll back up the truck if it hits $30 or lower.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
<< <i>(Kitco News) - Comex gold futures prices ended the U.S. day session solidly lower and nearer the daily low Thursday, after early on scoring another fresh all-time record high of $1,684.90, basis December futures. Long liquidation, much of which was profit taking and margin-call selling, hit the gold market in late-morning dealings. >>
Comex Hits Another All-Time High Early On, Then Backs Off Sharply on Long Liquidation
<< <i>WSJ reports drop off due to people selling gold to cover margin calls in other markets. >>
Profits are being used to cover losses. This is the problem with hedging, the profits get offset by the losses. The best way to cover your bets is to not gamble.
"Education is not the learning of facts, but the training of the mind to think." - Albert Einstein
Holy Crap! What a bad day!
In God We Trust.... all others pay in Gold and Silver!
<< <i>
<< <i>Back up the truck for this buying opportunity! >>
I wouldn't say a fall from $42 to $38 and change is a time for 'backing up the truck'.
I get what you mean though.
It has me thinking about buying.
I'll back up the truck if it hits $30 or lower. >>
Did you the last time, a couple months ago?
<< <i>
<< <i>WSJ reports drop off due to people selling gold to cover margin calls in other markets. >>
Profits are being used to cover losses. This is the problem with hedging, the profits get offset by the losses. The best way to cover your bets is to not gamble. >>
The Dow will go to zero without cash infusion and it will seem the dollar is going to zero with it.
You can't fool mother nature.
You can't run a country without an educated populous and you can't keep taking out far more than you put in or will grow naturally.
We should be addressing the fundamental issues rather than predicting when the dollar really will hit "0".
Interesting! for every seller there's a buyer, and for every buyer a seller
Liberty: Parent of Science & Industry
<< <i>Can you say QE III.
The Dow will go to zero without cash infusion and it will seem the dollar is going to zero with it.
You can't fool mother nature.
You can't run a country without an educated populous and you can't keep taking out far more than you put in or will grow naturally.
We should be addressing the fundamental issues rather than predicting when the dollar really will hit "0". >>
Could be QE along with the FED moving it's short term paper to long term to mitigate a drop in the USD. Simply printing money is not a solution, or the message the FED wants to send if it wants to keep the dollar up and a handle on inflation, especially after the damage the debt hike fiasco caused.
<< <i>for every seller there's a buyer, and for every buyer a seller
That's a good quote!
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Now remind me again - how does this administration "rescue" a falling stock market without any change in the fundamentals?
You only get one guess.
I knew it would happen.
<< <i>Not ready to buy, but I'm fairly confident that "someone" will jump to the stock market's rescue.
Now remind me again - how does this administration "rescue" a falling stock market without any change in the fundamentals?
You only get one guess. >>
New money - With no QE1 or QE2, the market has NO sugar
"Education is not the learning of facts, but the training of the mind to think." - Albert Einstein
<< <i>That was not a crash...........MJ >>
Most of the afternoon it stood firm like a stone wall.
Presently it is hovering just under $1,650 - a number we could only dream of just two weeks ago.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
Camelot
<< <i>That was not a crash...........MJ >>
MJ, at what point would you change your mind and call a "crash?"
Speaking of sweet sugar....it's already bounced back up $1.
roadrunner
<< <i>
<< <i>That was not a crash...........MJ >>
MJ, at what point would you change your mind and call a "crash?"
roadrunner >>
Back to back limit down days (20%) or close to that. I would consider that a crash...............Gold pulled back 1% today. Silver, got an expected haircut . But we've seen it before with silver. I mentioned it in the "Financial advisor" thread yesterday. Silver gets taken to the woodshed on industrial selloffs with vengence. Gold is a currency, silver is not. It's just the way it is....................JMHO.MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>
<< <i>for every seller there's a buyer, and for every buyer a seller
>>
True. The thing that causes price to move is an imbalance between buyers and sellers. That happens when they are motivated one way or another. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Camelot
<< <i>
<< <i>
<< <i>That was not a crash...........MJ >>
MJ, at what point would you change your mind and call a "crash?"
roadrunner >>
Back to back limit down days (20%) or close to that. I would consider that a crash...............Gold pulled back 1% today. Silver, got an expected haircut . But we've seen it before with silver. I mentioned it in the "Financial advisor" thread yesterday. Silver gets taken to the woodshed on industrial selloffs with vengence. Gold is a currency, silver is not. It's just the way it is....................JMHO.MJ >>
I'll agree. You will know its a crash when you look around in disbelief, realizing that what took 2 years to build was lost in a few weeks. And realizing that it will be years again before previous highs are again attained.
Knowledge is the enemy of fear
<< <i>So for the folks that say hang on a bit on silver, what's your drop/bottom prediction? >>
$25 to $27
Like going from $22 to $9 in 2008. As I type, gold is back up to $1,664 and change, up almost $16. Silver is peeking back out from behind the woodshed.
I knew it would happen.