What's up with Gold?

[DFF]

Seriously, given the magnitude of the world's continuing free fall, you'd think Gold would be shining brighter than ever. Yet our yellow friend has fallen by $25 since Sunday and I'm completely stumped as to why.

 

[FrankRep]

The markets are in complete chaos right now. Gold is dipping right now, but why??

 

[AmericasLastHope]

Dollar rally, pullback to $850, before takeoff.

 

[DFF]

The markets are in complete chaos right now. Gold is dipping right now, but why??

Central bank manipulation? Traders dumping Gold to cover their positions?

 

[hugolp]

There are alredy two post about this.

Hugo

 

[DFF]

Dollar rally, pullback to $850, before takeoff.

The dollar's been strong for awhile now though...

 

[Josh_LA]

The markets are in complete chaos right now. Gold is dipping right now, but why??

how about short term deflation?

 

[AmericasLastHope]

The dollar's been strong for awhile now though...

Two Year Dollar Index...

Two Year Gold...

 

[Paulitician]

lol, people said the gold correction was over

 

[dannno]

lol, people said the gold correction was over

Nah, we've been discussing this pull back for a week or two now (before it started).

 

[theoakman]

lol, people said the gold correction was over

yeah, I did. Do you see it at $750 anymore? I buy some metal each and every month. Haven't lost money doing so.

 

[tmosley]

Funds are selling gold to cover their losses, and some speculators think that the market is overbought, plus there were a lot of people profit taking at $1000/oz.

I expect it to be well above $1000 by the end of March.

 

[Paulitician]

yeah, I did. Do you see it at $750 anymore? I buy some metal each and every month. Haven't lost money doing so.

You do realize it doesn't have to go to 750 dollars in order for it to considered a correction, right? That's great you're not losing money--this has nothing to do with whether gold is correcting or not.

 

[hugolp]

I am personally very happy gold and silver are going down. I wanted to buy some more silver.

Hugo

 

[icon124]

lol, people said the gold correction was over

Around here people ignore corrections on gold like it doesn't happen. When gold goes down $100 you see 1-2 threads. When it goes up $100 you see 10-15 threads.

 

[tmosley]

Around here people ignore corrections on gold like it doesn't happen. When gold goes down $100 you see 1-2 threads. When it goes up $100 you see 10-15 threads.

That's because things tend to go down a lot faster than they go up. When prices suddenly spike up, it's exciting, but when they spike down by a similar amount within the same time period, it's standard. It's the same in the stock market.

 

[theoakman]

You do realize it doesn't have to go to 750 dollars in order for it to considered a correction, right? That's great you're not losing money--this has nothing to do with whether gold is correcting or not.

When the price was 750 a few months ago, I refuse to call this a correction. It's a blip. The real correction was from March to October. This is nothing.

 

[slacker921]

go here and select the daily chart.. zoom out.. you should see a upward trend and a series of bounces within that trend. It's been on the downward leg and is sitting on a bottom support right now. If it falls through then the folks who draw lines on charts will expect it to continue dropping until it hits about 900... if it breaks down through that then ??

my best guess is it'll bounce around between 915-930 for the next week then start heading back up. But who knows when the goobermint has the "invisible hand" pushing the markets up and down and when the masses are liquidating their 201Ks.

 

[rockandrollsouls]

There are alredy two post about this.

Hugo

You don't have any room to talk hugo. You flip flop left and right. I have about 10 posts where you say u wanted gold near 1,000 and there was no way it would go down. Just shutup, man.

Complete and total joker.

 

[rockandrollsouls]

When the price was 750 a few months ago, I refuse to call this a correction. It's a blip. The real correction was from March to October. This is nothing.

Oakman, you're a joke. You didn't take a sizeable profit on gold and you're sitting through a correction. The smart investor takes the profit and buys on the dip. You and hugo have been giving people shit about everything and you both have been dead wrong. You're both jokers.