Gold Down

[stockstradr]

does anyone have any insight into where platinum is going to go?

Great question!!

Please someone, anyone, educate us on platinum. Tell us how to make a killing on this metal.

From $2200 down to $900 in six months! Damn, I’m glad I’m not long that commodity.

I keep wondering.. isn’t this a good price to buy this stuff?

[Arraya]

[quote=stockstradr]Here’s a question you gotta ask yourself:

What MAJOR players are conspiring to pull gold prices DOWN, dropping prices $60/ounce even against the documented increased demand – seen both in the run on physical gold orders AND also the gold ETF is reporting far more inflows than outflows????

Must be some big players (foreign reserve banks) dumping physical gold. Only other element I’m aware of is India’s demand said to have dropped off 70% in last few months.[/quote]

http://www.investegate.co.uk/invarticle.aspx?id=58539

Mark Mahaffey, co-manager of Hinde Capital, pointed out that the sale of one ounce gold coins – known as golden eagles – in the US had been halted and reports earlier this month said that South Africa had run out of gold krugerands after a Swiss buyer bought 5000 coins.

Mahaffey said that the US had banned owning gold in 1933 and that if the current crisis is worsened by a rush for gold, governments might act.

He said: “The worst thing for any kind of central banking crisis is everyone buying the oldest currency in the world. Buying gold is a clear sign that investors don’t have confidence in the financial system.”

He said that the problem at the moment was that too many people had too much debt and that central banks hoping to address this could devalue everything else in the system.

The fear for anyone who is in credit is that the financial system could become geared towards negating debt which, in turn, would destroy the value of their assets. One way of bypassing this threat is to buy gold.

However a general shift to gold would undermine the power of central banks and their influence on the economy.

[Arraya]

[quote=stockstradr]Here’s a question you gotta ask yourself:

What MAJOR players are conspiring to pull gold prices DOWN, dropping prices $60/ounce even against the documented increased demand – seen both in the run on physical gold orders AND also the gold ETF is reporting far more inflows than outflows????

Must be some big players (foreign reserve banks) dumping physical gold. Only other element I’m aware of is India’s demand said to have dropped off 70% in last few months.[/quote]

http://www.investegate.co.uk/invarticle.aspx?id=58539

Mark Mahaffey, co-manager of Hinde Capital, pointed out that the sale of one ounce gold coins – known as golden eagles – in the US had been halted and reports earlier this month said that South Africa had run out of gold krugerands after a Swiss buyer bought 5000 coins.

Mahaffey said that the US had banned owning gold in 1933 and that if the current crisis is worsened by a rush for gold, governments might act.

He said: “The worst thing for any kind of central banking crisis is everyone buying the oldest currency in the world. Buying gold is a clear sign that investors don’t have confidence in the financial system.”

He said that the problem at the moment was that too many people had too much debt and that central banks hoping to address this could devalue everything else in the system.

The fear for anyone who is in credit is that the financial system could become geared towards negating debt which, in turn, would destroy the value of their assets. One way of bypassing this threat is to buy gold.

However a general shift to gold would undermine the power of central banks and their influence on the economy.

[Arraya]

[quote=stockstradr]Here’s a question you gotta ask yourself:

What MAJOR players are conspiring to pull gold prices DOWN, dropping prices $60/ounce even against the documented increased demand – seen both in the run on physical gold orders AND also the gold ETF is reporting far more inflows than outflows????

Must be some big players (foreign reserve banks) dumping physical gold. Only other element I’m aware of is India’s demand said to have dropped off 70% in last few months.[/quote]

http://www.investegate.co.uk/invarticle.aspx?id=58539

Mark Mahaffey, co-manager of Hinde Capital, pointed out that the sale of one ounce gold coins – known as golden eagles – in the US had been halted and reports earlier this month said that South Africa had run out of gold krugerands after a Swiss buyer bought 5000 coins.

Mahaffey said that the US had banned owning gold in 1933 and that if the current crisis is worsened by a rush for gold, governments might act.

He said: “The worst thing for any kind of central banking crisis is everyone buying the oldest currency in the world. Buying gold is a clear sign that investors don’t have confidence in the financial system.”

He said that the problem at the moment was that too many people had too much debt and that central banks hoping to address this could devalue everything else in the system.

The fear for anyone who is in credit is that the financial system could become geared towards negating debt which, in turn, would destroy the value of their assets. One way of bypassing this threat is to buy gold.

However a general shift to gold would undermine the power of central banks and their influence on the economy.

[Arraya]

[quote=stockstradr]Here’s a question you gotta ask yourself:

What MAJOR players are conspiring to pull gold prices DOWN, dropping prices $60/ounce even against the documented increased demand – seen both in the run on physical gold orders AND also the gold ETF is reporting far more inflows than outflows????

Must be some big players (foreign reserve banks) dumping physical gold. Only other element I’m aware of is India’s demand said to have dropped off 70% in last few months.[/quote]

http://www.investegate.co.uk/invarticle.aspx?id=58539

Mark Mahaffey, co-manager of Hinde Capital, pointed out that the sale of one ounce gold coins – known as golden eagles – in the US had been halted and reports earlier this month said that South Africa had run out of gold krugerands after a Swiss buyer bought 5000 coins.

Mahaffey said that the US had banned owning gold in 1933 and that if the current crisis is worsened by a rush for gold, governments might act.

He said: “The worst thing for any kind of central banking crisis is everyone buying the oldest currency in the world. Buying gold is a clear sign that investors don’t have confidence in the financial system.”

He said that the problem at the moment was that too many people had too much debt and that central banks hoping to address this could devalue everything else in the system.

The fear for anyone who is in credit is that the financial system could become geared towards negating debt which, in turn, would destroy the value of their assets. One way of bypassing this threat is to buy gold.

However a general shift to gold would undermine the power of central banks and their influence on the economy.

[Arraya]

[quote=stockstradr]Here’s a question you gotta ask yourself:

What MAJOR players are conspiring to pull gold prices DOWN, dropping prices $60/ounce even against the documented increased demand – seen both in the run on physical gold orders AND also the gold ETF is reporting far more inflows than outflows????

Must be some big players (foreign reserve banks) dumping physical gold. Only other element I’m aware of is India’s demand said to have dropped off 70% in last few months.[/quote]

http://www.investegate.co.uk/invarticle.aspx?id=58539

Mark Mahaffey, co-manager of Hinde Capital, pointed out that the sale of one ounce gold coins – known as golden eagles – in the US had been halted and reports earlier this month said that South Africa had run out of gold krugerands after a Swiss buyer bought 5000 coins.

Mahaffey said that the US had banned owning gold in 1933 and that if the current crisis is worsened by a rush for gold, governments might act.

He said: “The worst thing for any kind of central banking crisis is everyone buying the oldest currency in the world. Buying gold is a clear sign that investors don’t have confidence in the financial system.”

He said that the problem at the moment was that too many people had too much debt and that central banks hoping to address this could devalue everything else in the system.

The fear for anyone who is in credit is that the financial system could become geared towards negating debt which, in turn, would destroy the value of their assets. One way of bypassing this threat is to buy gold.

However a general shift to gold would undermine the power of central banks and their influence on the economy.

[socrattt]

With this serious supply and demand issue with gold and silver, does anyone potentially see a quick run up here in the near future as Europe starts to collapse?

It seems like the domino effect is starting to become more clear as Europe is clearly starting to feel the effects of this US meltdown. I have a large portfolio of gold stocks and unfortunately that was a pretty bad move as many of these stocks were affected during these small crashes as of late. I think my gold stocks are down an average of 35% while gold has held somewhat steady from its high of just over $1k/ounce. I also have a large portfolio of physical silver because I believe there is a great upside potential as well, but again any insight would be greatly appreciated.

[socrattt]

With this serious supply and demand issue with gold and silver, does anyone potentially see a quick run up here in the near future as Europe starts to collapse?

It seems like the domino effect is starting to become more clear as Europe is clearly starting to feel the effects of this US meltdown. I have a large portfolio of gold stocks and unfortunately that was a pretty bad move as many of these stocks were affected during these small crashes as of late. I think my gold stocks are down an average of 35% while gold has held somewhat steady from its high of just over $1k/ounce. I also have a large portfolio of physical silver because I believe there is a great upside potential as well, but again any insight would be greatly appreciated.

[socrattt]

With this serious supply and demand issue with gold and silver, does anyone potentially see a quick run up here in the near future as Europe starts to collapse?

It seems like the domino effect is starting to become more clear as Europe is clearly starting to feel the effects of this US meltdown. I have a large portfolio of gold stocks and unfortunately that was a pretty bad move as many of these stocks were affected during these small crashes as of late. I think my gold stocks are down an average of 35% while gold has held somewhat steady from its high of just over $1k/ounce. I also have a large portfolio of physical silver because I believe there is a great upside potential as well, but again any insight would be greatly appreciated.

[socrattt]

With this serious supply and demand issue with gold and silver, does anyone potentially see a quick run up here in the near future as Europe starts to collapse?

It seems like the domino effect is starting to become more clear as Europe is clearly starting to feel the effects of this US meltdown. I have a large portfolio of gold stocks and unfortunately that was a pretty bad move as many of these stocks were affected during these small crashes as of late. I think my gold stocks are down an average of 35% while gold has held somewhat steady from its high of just over $1k/ounce. I also have a large portfolio of physical silver because I believe there is a great upside potential as well, but again any insight would be greatly appreciated.

[socrattt]

With this serious supply and demand issue with gold and silver, does anyone potentially see a quick run up here in the near future as Europe starts to collapse?

It seems like the domino effect is starting to become more clear as Europe is clearly starting to feel the effects of this US meltdown. I have a large portfolio of gold stocks and unfortunately that was a pretty bad move as many of these stocks were affected during these small crashes as of late. I think my gold stocks are down an average of 35% while gold has held somewhat steady from its high of just over $1k/ounce. I also have a large portfolio of physical silver because I believe there is a great upside potential as well, but again any insight would be greatly appreciated.

[TheBreeze]

Well, I’ll admit that I’m baffled. Gold continues to go down while the dollar continues to strengthen. It seems like every day the dollar makes a monster move up. This seems to be contrary to what should be happening.

In some ways, I can see how the dollar keeps going up. It appears to be the best house in a really schittty neighborhood. I think Europe is in worse shape than the U.S. and does anyone really trust China or Russia? Russia shut down their markets recently which is no way to build confidence.

I’ve heard talk on this board about how China could create a new world-crushing currency if they just backed it with gold. However, would people really trust China to administer a global currency even if it was supposedly backed by gold? About the only thing I trust to buy from China anymore is garbage bags. I make sure that anything I eat or eat out of or pretty much anything I would normally touch without washing my hands afterwards doesn’t come from China.

[TheBreeze]

Well, I’ll admit that I’m baffled. Gold continues to go down while the dollar continues to strengthen. It seems like every day the dollar makes a monster move up. This seems to be contrary to what should be happening.

In some ways, I can see how the dollar keeps going up. It appears to be the best house in a really schittty neighborhood. I think Europe is in worse shape than the U.S. and does anyone really trust China or Russia? Russia shut down their markets recently which is no way to build confidence.

I’ve heard talk on this board about how China could create a new world-crushing currency if they just backed it with gold. However, would people really trust China to administer a global currency even if it was supposedly backed by gold? About the only thing I trust to buy from China anymore is garbage bags. I make sure that anything I eat or eat out of or pretty much anything I would normally touch without washing my hands afterwards doesn’t come from China.

[TheBreeze]

Well, I’ll admit that I’m baffled. Gold continues to go down while the dollar continues to strengthen. It seems like every day the dollar makes a monster move up. This seems to be contrary to what should be happening.

In some ways, I can see how the dollar keeps going up. It appears to be the best house in a really schittty neighborhood. I think Europe is in worse shape than the U.S. and does anyone really trust China or Russia? Russia shut down their markets recently which is no way to build confidence.

I’ve heard talk on this board about how China could create a new world-crushing currency if they just backed it with gold. However, would people really trust China to administer a global currency even if it was supposedly backed by gold? About the only thing I trust to buy from China anymore is garbage bags. I make sure that anything I eat or eat out of or pretty much anything I would normally touch without washing my hands afterwards doesn’t come from China.

[TheBreeze]

Well, I’ll admit that I’m baffled. Gold continues to go down while the dollar continues to strengthen. It seems like every day the dollar makes a monster move up. This seems to be contrary to what should be happening.

In some ways, I can see how the dollar keeps going up. It appears to be the best house in a really schittty neighborhood. I think Europe is in worse shape than the U.S. and does anyone really trust China or Russia? Russia shut down their markets recently which is no way to build confidence.

I’ve heard talk on this board about how China could create a new world-crushing currency if they just backed it with gold. However, would people really trust China to administer a global currency even if it was supposedly backed by gold? About the only thing I trust to buy from China anymore is garbage bags. I make sure that anything I eat or eat out of or pretty much anything I would normally touch without washing my hands afterwards doesn’t come from China.

[Author]

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