Gold Tumbles Most Since 08

Gold loses 100 dollars in 24 hours this is a sign that it is a bubble created by fear mongering against the federal government, banks and currencies.

Bernanke will solve the crisis but the mechanisms for it to work will take time

It is not a buying opportunity but the beginning of the end of the Gold popularity and it is time to sell guys

 

Oh dear, DA's head just exploded.

Watch him avoid posting for a while and then come back touting the money to be made in platinum futures.

 

What the heck did you expect????

 

gold was overvalued, the bubble popped

 

Yep, the fundamentals of Western economies are sounder than they've ever been. Look at all those green shoots sprouting up everywhere! No doubt Gold has had it. I can just see the dollar and stocks ready to lift off! Definitely a once in a lifetime buying opportinity for all paper assets!

 

it will not be overnight but soon the peddling of gold will return to the fantasy land it was spawned from.

anyone with gold investment should sell now, losing 100 dollars in 24 hours took years to build up to.

 

As if gold were the answer to a slowdown in economic growth?

 

It's just volatility. Gold will continue to gain as long as the central banks keep interest rates low. If Bernanke announces QEIII today, gold will shoot through the roof, BUT there is word that the Chicago Mercantile Exchange will raise the margins on gold very soon, so that could cause gold to take a temporary hit.

 

Gold comes back...

Gold bounces back after big plunge
Aug 25`11 : The precious metal steadied even as exchanges hike margin requirements ahead of a speech by Fed chairman Ben Bernanke.

 

Uhhh no.

I just saw this thread now.

And this correction did not really surprise me as I posted the day before it happened (not that I am saying I am a gold expert...AS I AM NOT):


'Gold Tumbles in Metal’s Biggest Decline in a Year

'Gold dropped the most in a year as some investors sold the metal after signs of slowing growth spurred a rally to a record $1,917.90 an ounce.'

http://www.bloomberg.com/news/2011-0...tors-sell.html


This is actually good news - in my opinion.

Gold's upward climb was beginning to look a tad 'parabolic'. And that is rarely good news - imo - because it usually means things will get over-heated as speculators jump in too much, too soon. And that usually means a BIG over-correction will follow, like what happened with silver in the spring (though that was definitely helped by VERY major margin requirement changes whose reasons are still suspect to me).

I want gold and silver (which also - of course - corrected substantially today) to do what they have mostly been doing over the past 11 years or so...go generally upwards, fairly slowly and steadily.'

http://www.politicalforum.com/4367557-post252.html


The reasons gold has been climbing for 10+ years are still present.

And as long as they are - gold (and silver) should continue to climb.

BTW, gold is already up to $1812.00 right now - up from the close two days ago of just over $1750.


A little advice people...do not assume that you understand about a commodity until you understand it's fundamentals.

 

Very good post, imo.

Very informative.

 

LOL, here we go.....the gold bubble burst propagands LOL.....I have been hearing this crap for the past 6 years....yes 6 years as since 2005 I have been hearing the gold bubble will burst crap.


And you say Bernacke will fix this mess? How by printing money ? You beter study some history!

 

do you want a bet that gold will be much higher by next summer?

 

another clueless statement LOL.....keep them coming....you guys really need to learn what bubbles are LOL

 

these fools expect gold to go straight up LOL.....and its only natural that as gold goes higher the corrections are going to be steeper!

 

I will say to you the same thing I said to Margot.....do you wanna bet that gold will be higher next summer than it is now?

 

gold may not be the answer but it can sure as heck protect your assets!

 

And expand them...

 

yup....that too

 

its a known fact that credit suisse, JP morgan, and deutche bank are all shorting gold and silver...as they get desperate they will do whatever to push it down...like raising margin requirements...it wont work !

 

For the record:

Gold is $1824.65...up $64.05 for the day.

 

So I take it you bought gold yesterday and made some money.

Or does gold just go up and down unpredictably, like all commodities.

 

I take it what I do with my personal finances - especially on a daily basis - is none of your business.

I will tell you this though...I made (on my gold alone) another 3.7% today.

But then, so did everyone else (gross) that owned gold.


Just because you do not understand commodities LGU (LGoo)- does not mean everyone doesn't.

And clearly - you do not.


Ohh...and have a very nice day.

 

I understand commodities go up and down and gold is no different, and not magical like you seem to think.

And from this post I know that for all your claims you've admitted the same.

If you know so much about gold and its magical properties, you should have know it was going to go up today and bought more yesterday.

But you didn't, did you? See, it's just a commodity.

 

Where did I type that gold has 'magical properties'?


And, according to you, the only way one can know about gold is if one knows what it will do every day?!?

Ahhh....yeaaaah.

Invest much LGU?