Steak_Cake_Sause: It could be the beggings of a bubble burst. But 90/oz dosent seem significant if you look at 5-10year trends. It could just be a hickup or minor adjustment.
blatz514: Donnchadha: Wow. Chemistry fail, subby.Maybe slubby thought since silver prices were falling, it was making the "ahhhhgh" sound.*shrugs*
snowshovel: Doesn't gold have some value as a conductive metal? Or for imprinting uses on DVDs?
Carthax: Apos: whistleridge: Ag, Au no. Cu later...NaA group of Oxygen, Hydrogen, Sulfur, Sodium and Phosphorus walk into a bar. The bartender looks up and says, "OH, SNaP!"
xanadian: FTFA: For years gold bugs have predicted economic apocalypse with hyper-inflation and a collapse of stock prices. That simply hasn't happened, and many investors have given up on gold, shifting funds out of precious metals. Last week Goldman Sachs issued a report, predicting gold prices would tumble. More volatility is expected in the days to come.One thing I've learned as a contrarian is that if somebody's doing their damnedest to push a commodity, you can bet that commodity is due for an eventual and monumental collapse.
SlothB77: but Hannity and Beck told me i couldn't lose investing in gold!
DCSteve: TheDirtyNacho: DCSteve: Is anyone else buying in? I bought IAU this afternoon.I don't believe in the end of the world scenario (which I why I can own the ETF) but I do believe there will be some problems arising still to come since nearly everyone is printing money.We'll see. Besides it's fun to buy things when blood is in the streets. I bought Japan equity after the quake and U.S. equity after the U.S. was downgraded. Both turned out pretty well.While it's generally a good idea to buy when the market is at its lowest... the key word is 'lowest'. Gold has a ways to go. Also being a mined commodity throws some additional "interesting" effects in.I don't know when the lowest will come - may have already. No real way to price gold and it could go way down from here, I agree. I just thought it was an opportunity to buy in. "has a ways to go" I'm interested to hear what you think its fair value is and how you get there.
The Stealth Hippopotamus: How the hell do you have a report on the dip in gold prices without talking about Cypriot flooding the market?!
Rapmaster2000: Smackledorfer: Emeraldstar: Back in the early 1990s when gold was about $6 an ounce my husband bought 50 LBS of silver. He sold it not too long back when silver was selling at $32.50 an ounce. He says he is waiting for silver to collapse again , so he can buy another 50 to 100lbs of the stuff and sit on it until its worth rises again. These things work in cycles. The patient will make money. The dumb will cry.The whole 'im smrt ur dumb' bit means a lot more when it isn't "my husband is smarter than you".Just for future bragging.That and 9% year-over-year while nice is still not exactly a coup. I'd be more impressed if you did something like put your money into Pier 1 in 2009 and made 20200% off it by 2013.That is not a typo.
palelizard: snowshovel: Doesn't gold have some value as a conductive metal? Or for imprinting uses on DVDs?Yeah, it's got some uses in a high tech world, but not proportionate to its (inflated by doomspeakers) price. Your computer's CPU probably has some gold in it, and I think there are some gold bits in catalytic converters in your car, but gold only has intrinsic value in a non-doomsday scenario where there's enough of society to actually use it.The fun part will be when all the gold hoarders, post-doomsday, try to trade the gold for food, and get refused because the other party doesn't need gold for anything. Then the hoarder kills them and claims, "I offered fair trade, but they were determined to rob me" to anyone listening.
Magorn: Interestingly enough, aside from accidental losses, such as the sinking of ships or buried hordes whose locations were forgotten, the supply of gold in the world, in the world has been considered to have on increased throughout history. The Gold mined in Roman mines in the hundreds BC is still around, and can be melted an reused, and all the new stuff we pull up everyday only adds to the supply. Until recently, that is, the use of gold in electronics has actually caused minor destruction in the world gold supply as the gold used in these applications is considered "consumed" because the amounts individually are too small to allow for cost-effective recovery of it when the device is no longer used.
mwfark: well, that sucks that gold tanked today, but for those of you strangely dancing in the streets at the misfortune of others and patting yourselves on the back for not investing, I will note that even after today's steep decline I'm still in decent positive territory on my gold ETF investment.
hdhale: hiker9999: SlothB77: but Hannity and Beck told me i couldn't lose investing in gold!No, no. *Hannity and Beck* can't lose if *you* invest in gold. Focus on what's important!You say that like the dollar is a better investment.[turklishtefl.com image 386x350]/actually I've been expecting the bottom to fall out from the gold market for a while, just never expected it to take this long//if you actually listened to Beck, you buy gold mostly because when paper currency is good for nothing but wiping your ass, gold is still valuable, which is true
hdhale: //if you actually listened to Beck, you buy gold mostly because when paper currency is good for nothing but wiping your ass, gold is still valuable, which is true
hiker9999: SlothB77: but Hannity and Beck told me i couldn't lose investing in gold!No, no. *Hannity and Beck* can't lose if *you* invest in gold. Focus on what's important!
Nonrepeating Rotating Binary: But what if I offered you a chicken made of gold!
MassD: Great Janitor: If the government collapsed and two people come to me for my services as a roofer and one is willing to pay me in gold coin and the other is offering me two chickens and a drum of corn, I'm going to do the roofing job for the guy with the chicken and corn.This.Gold is, basically, just some pretty rock that someone found in the ground. In a kind of post-apocalyptic society, it has no intrinsic value.. ZERO... A far better metal to hoard would be gold's cousin, lead. More specifically, enough raw supplies to make bullets, lots and lots of bullets... THOSE would have real value. The dude with all the ammo is the dude with all the power.Hasn't anyone watched Revolution or The Walking Dead??????
Apos: Bf+: Carthax: Apos: whistleridge: Ag, Au no. Cu later...NaA group of Oxygen, Hydrogen, Sulfur, Sodium and Phosphorus walk into a bar. The bartender looks up and says, "OH, SNaP!"You're sure to get a lot of reactions to that.I see what you concocted there.
The Stealth Hippopotamus: How the hell do you have a report on the dip in gold prices without talking about Cypriot flooding the market?!More American Media fail.
Rapmaster2000: Did you know that disco record sales are up 400% for the year ending 1976? If these trends continue...
Apos: You *might* have pulled off this off, subby, if you'd paused long enough to use the right atomic symbols.
GAT_00: Hideously overpriced market based largely on inflated perceptions and not real value crashes. Shocking.
BKITU: whistleridge: Ag, Au no. Cu later...K
Donnchadha: Why would he write out the "ahhhhgh" sound? Wouldn't he just say it?
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