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Gold crash - Update third straight month loss first since 2001

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masteryoda34 said:
Care to elaborate?
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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).
 
Last edited:
5-16-2012

Gold Jun 12 (GCM12.CMX)

-COMEX

1,540.00
down_r.gif
17.10(1.10%) 4:36PM EDT
 
masteryoda34 said:
5-17-12

Gold Jun 12 (GCM12.CMX)

-COMEX

1,571.40
Gaky9.gif
34.80(2.26%) 10:33AM EDT
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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.
 
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
 
dmcowen674 said:
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
Click to expand...

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".
 
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.
 
dmcowen674 said:
It did something that had not happened since 2001

That's not minor
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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?
 
davmat787 said:
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?
Click to expand...

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.
 
Born2bwire said:
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.
Click to expand...

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