Gold crash - Update third straight month loss first since 2001

[Born2bwire]

Why?

He's a very hateful man I guess.

 

[Budarow2]

Care to elaborate?

Mainly, a second, smaller home located on 3/4 acre in a neighborhood full of summer homes (the area is lightly populated). The lot is full of mature oak trees, the best/cleanest well water in the world, on-site septic with sand/gravel (i.e, will never fail) and a low monthly mortgage (including low taxes). We've got great neighbors/friends next door who have a 10 acre (similar to mine) horse farm (3 horses).

2 Dirt bikes (new and almost new).

A newer, reliable, high mileage car.

Fun, yet useful/practical, sporting equipment (e.g., hunting, fishing, camping gear, etc.). Need a wood stove (natural, not a pellet burner) and possibly a used Zodiac boat (the house is 3 miles from public access to a 10K acre, inland lake).

 

[dmcowen674]

5-16-2012

Gold Jun 12 (GCM12.CMX)

-COMEX

1,540.00

17.10(1.10%) 4:36PM EDT

 

[masteryoda34]

5-17-12

Gold Jun 12 (GCM12.CMX)

-COMEX

1,571.40

34.80(2.26%) 10:33AM EDT

 

[lord_emperor]

If it keeps up at this rate I might be able to buy a piece of jewelry before I die.

 

[dmcowen674]

5-17-12

Gold Jun 12 (GCM12.CMX)

-COMEX

1,571.40

34.80(2.26%) 10:33AM EDT

Looks like the rats are running out of places to hide.

http://finance.yahoo.com/news/wheat-gold-silver-rise-down-202352353.html

Wheat, gold, silver rise in a down market


As stock market falls, investors bid up positions in agricultural commodities, precious metals


Wheat prices rose again Thursday on concerns about poor weather conditions, while gold and silver shot higher as traders sought refuge from a steep decline in the stock market.


Wheat rose 3 percent, or 19 cents, to $6.5775 per bushel on Thursday. Prices have been climbing for most of the week as traders worry that dry weather in the U.S. and Russia will crimp supply.

Most metals rose as traders sought safety from the plunging stock market. The Dow Jones industrial average lost 156 points to close at 12,442, and is now down 5.8 percent since the end of April.

A stronger dollar also tends to send down the price for oil and other commodities that are traded in dollars, because the commodity becomes more expensive for traders who use other currencies.

 

[dmcowen674]

6-1-12

Looks like Gold crash is over.

Now the rich boys are pulling out of stocks and loading up on gold

at 4:30 PM

Gold up $60

Dow down 274

Oil down to $83

 

[DucatiMonster696]

6-1-12

Looks like Gold crash is over.

Now the rich boys are pulling out of stocks and loading up on gold

at 4:30 PM

Gold up $60

Dow down 274

Oil down to $83

Wait when did gold crash exactly? Minor to moderate fluctuations in the price of gold over a course of a few months does not constitute a "ZOMG CRASH".

 

[dmcowen674]

It did something that had not happened since 2001

That's not minor

 

[Charles Kozierok]

It did something that had not happened since 2001

And what was that, exactly? Three monthly declines? So what?

Ducati is right, there was no "gold crash".

 

[rcpratt]

Just as much as this wasn't a crash in the first place, neither does one day mean the decline is over.

Still up significantly overall on my GLL.

 

[Capt Caveman]

Put it in %, no crash found.

 

[DucatiMonster696]

It did something that had not happened since 2001

That's not minor

What did it do exactly that constitutes it being a "Gold crash". Saying "It did something" is not a sufficient explanation for the claim you are making which is that gold suffered a "Crash".

 

[davmat787]

It did something that had not happened since 2001

That's not minor

My Mariners "did something" that had not happened for a long time too... they scored 21 runs the other day. That does not mean their offense does not suck anymore nor did gold crash.

The important question is, what were the percentages?

 

[Born2bwire]

My Mariners "did something" that had not happened for a long time too... they scored 21 runs the other day. That does not mean their offense does not suck anymore nor did gold crash.

The important question is, what were the percentages?

Well, it's up 5% over the previous year. You know, Dave is rather uncanny in his predictions when you go with the OPPOSITE of what he said. I have never known a better predictor of days without earthquakes than Dave.

 

[rcpratt]

Just as much as this wasn't a crash in the first place, neither does one day mean the decline is over.

Still up significantly overall on my GLL.

Like I said...

 

[Keeper]

Wow.... This thread actually made me watch less Comedy Central....


OP...... Word fail me.

 

[fskimospy]

Well, it's up 5% over the previous year. You know, Dave is rather uncanny in his predictions when you go with the OPPOSITE of what he said. I have never known a better predictor of days without earthquakes than Dave.

George Will is pretty much the only person more consistently wrong than Dave.

 

[Hugo Drax]

Gold is a "Greater fool" Investment instrument. As long as there is a Greater fool than yourself willing to pay, then everything is good and you think your the smartest investor in the room. The problem is at some point you run out of Greater fools, and you do not want to be the last one on the bus.

 

[hal2kilo]

George Will is pretty much the only person more consistently wrong than Dave.

I think Billy Kristol is at least a close runner up.

 

[dmcowen674]

Gold back below $1600

$49 drop so far

6-21-2012

http://finance.yahoo.com/q?s=gcq12.cmx

Gold Aug 12 (GCQ12.CMX)

-COMEX

1,566.80

49.00(3.03%) 4:14PM EDT

 

[Pr0d1gy]

As if we couldn't have gone and checked ourselves.


This is not a crash, it is prices falling back towards where they would be if a bunch of crooks didn't run this nation.

 

[Capt Caveman]

Crash still not seen.

If the weather temperature drops a few degrees, is that a crash in temperatures?

 

[rstove02]

Crash still not seen.
If the weather temperature drops a few degrees, is that a crash in temperatures?

Personally I always sell my stockpile of temperature when winter approaches.