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Gold price dives through support to new low. Gold Bubble continues to deflate.; Gold price to drop another 15% this year say strategists at Societe Generale
Topic Started: 3 Apr 2013, 10:29 AM (37,669 Views)
Andrew
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Mike
16 May 2013, 09:48 PM
It wont be good for gold miners thats for sure. I would rather know about a problem then stick my head in the sand and say it cant be so.

Gold is on a long term downward trend, i said that a fair while ago. If it is bad for property, thats ok property prices will go down at some point and I would rather be armed with knowledge and in a position to take advantage of any situation. Im not really a bull or bear, a realist.
Wow Mike, this may be the most bearish post of yours I have ever seen.

Has the flood of bad news cut into your optimism?
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Poontang
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The AUD falling is helping to offset some of the decline in the gold and silver prices.

Bigger falls will be supportive in gold and silver prices in AUD terms..
There are some people who seem angry and continuously look for conflict.
Walk away, the battle they are fighting isn't with you, it's with themselves.

The first lesson of economics is scarcity: There is not enough of anything to satisfy all who want it.
The first lesson of politics is to disregard the first lesson of economics. ~ Thomas Sowell.

Who was the fool, who the wise man, who the beggar or the Emperor? Whether rich or poor, all are equal in death.
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Count du Monet
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Quote:
 
"There is no reason to own gold as long as people keep on putting money into the stock market. You can see it everywhere that the economy is turning around," said Comex gold options floor trader Jonathan Jossen.


The recovery is on!

Gee, I really believe that and especially when the American banking pays 0.10% on O/N? :huh:

ZIRP does not flag recoveries.
The next trick of our glorious banks will be to charge us a fee for using net bank!!!
You are no longer customer, you are property!!!

Don't be SAUCY with me Bernaisse
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b_b
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Quote:
 
"There is no reason to own gold as long as people keep on putting money into the stock market. You can see it everywhere that the economy is turning around," said Comex gold options floor trader Jonathan Jossen.


Fixed it.
(S – I) + (T - G) + (M - X) = 0
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Admin
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Administrator

Quote:
 
Gold posts longest slump since 2011

May 17, 2013 - 6:44AM

Gold futures fell, capping the longest slump in 16 months, as US filings showed that George Soros and BlackRock cut stakes in exchange-traded products backed by the metal, signaling waning investment demand.

Soros Fund Management LLC lowered its holding in the SPDR Gold Trust, the biggest such fund, by 12 per cent as of March 31 from the previous quarter, data showed yesterday. The World Gold Council said today that demand dropped 13 per cent in the first quarter from a year earlier as ETP sales outweighed a surge in purchases of coins, bars and jewelry in China and India.

"There has been heavy fund selling in the past few days, and we continue to see this rotation out of precious metals," Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago, said in a telephone interview. "We're not seeing a runaway recovery, but we're getting growth and little inflation, so the reasons for the original run-up in gold are fading away."

Gold futures for June delivery dropped 0.7 per cent to close at $US1,386.90 an ounce at 1:38 p.m. on the Comex in New York. The price fell for the sixth straight session, the longest slump since December 2011. Earlier, the metal touched $US1,368, the lowest for a most-active contract since April 18.

Gold has dropped 17 per cent this year, tumbling into a bear market last month, as some investors lost faith in the metal as a store of value, while the dollar rose 5 per cent against a six- currency basket. The Standard & Poor's 500 Index of equities climbed to a record yesterday.

Read more: http://www.smh.com.au/business/markets/gold-posts-longest-slump-since-2011-20130517-2jpxo.html
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Pig Iron
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Bogan scum

gold is plunging again, it's lost all of it's gains after the recent nose dive and is about to find a new 3 year low.
I am the love child of Tony Abbott and Pauline Hanson
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Shadow
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Evil Mouzealot Specufestor

Here we go again... Ted Goldbug has explained to me that these corrections occur when gold becomes 'wildly overvalued'...
Quote:
 
http://www.smh.com.au/business/markets/gold-suffers-heavy-fall-on-fed-concerns-syria-20130913-2toc3.html

Gold suffers heavy fall on Fed concerns, Syria

September 13, 2013 - 9:32AM

Gold dropped 3 per cent overnight, as a sudden price tumble in the futures market shattered investor confidence, sending the metal to its biggest one-day drop in more than two months.

Prices also came under pressure as tensions with Syria eased and US data reinforced expectations that the US Federal Reserve will this month start to unwind its monetary stimulus that has bolstered gold prices for the past four years.

Silver sank over 5 per cent and platinum group metals were lower after gold's big jolt lower early in London trading...
Edited by Shadow, 13 Sep 2013, 10:50 AM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Pig Iron
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Bogan scum

you can hear the gold bugs clacker valves snapping shut from here.
I am the love child of Tony Abbott and Pauline Hanson
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Trojan
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Pig Iron
13 Sep 2013, 11:21 AM
you can hear the gold bugs clacker valves snapping shut from here.
But they will put a positive spin on it like "it means gold is better buying now" or "the new bull run is about to begin"
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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Pig Iron
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Bogan scum

Trojan
13 Sep 2013, 04:05 PM
But they will put a positive spin on it like "it means gold is better buying now" or "the new bull run is about to begin"
gold is at $1317, goldbug is MIA.

no doubt he will post as a guest for a while, spouting clueless shit until there's a tiny rally. then he'll claim gold never crashed and he predicted it all.
I am the love child of Tony Abbott and Pauline Hanson
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