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  #1  
Old 04-13-2013, 12:06 AM
Pooka
 
Join Date: Sep 2005
Posts: 664
Gold prices.... Going Down! (again)

The bottom is still a way off, but when Gold hits $950 per troy oz we will just about be there.

There are a lot of folks throwing around a lot of opinions on why Gold crashed today, but all I can see is that the bubble popped.

I was talking to a guy tonight that has a 'I buy Gold' shop and asked him what he thought and he said he might just take a few days off and let things settle down. He was a Pawn Broker in the 80's and he saw some Cell Phones he loaned $500 on be worth $100 by the time they came off Pawn. He is not planning to buy any Gold in the morning just to see it worth $87 an oz less in the afternoon like he did today.

By the way, $950 an oz is equal, more or less, to ten barrels of oil. This was once the standard of value of gold.

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  #2  
Old 04-13-2013, 07:43 AM
t walgamuth's Avatar
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Location: Lafayette Indiana
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When it gets back to $35 an ounce I am buying all I can. don't tell anybody.
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..I also have a 427 Cobra replica with an aluminum chassis.
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  #3  
Old 04-13-2013, 12:17 PM
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Typical sucker shot starting to gain momentom? You start a buying fever cash out and then collapse the market? The price of gold seems to not mirror economic condition enough to be crediable. Or else it would have remained high with all the excess paper being printed.

If it does not shortly seriously rebound there are serious issues with it in my opinion. Where are all the guys calling for two thousand an ounce currently? It is usually dangerous to be where all the sheep are.
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  #4  
Old 04-13-2013, 12:28 PM
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ĦAy Jodido!
 
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Glen Beck believes in gold. I see no reason to fret.
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  #5  
Old 04-13-2013, 02:07 PM
Pooka
 
Join Date: Sep 2005
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The Times of India reports that Traders are dumping Gold to buy Dollars which they see as a more stable investment.

Or put another way.... With the way the US economy is rebounding the Dollar is starting to gain in value. Traders are betting that Dollars is where you want to be right now.

This kicked into high gear a few days ago when the head of the IMF said that while most economies seem to be in recovery right now there is no question that the US economy is far ahead of the rest of the world.
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  #6  
Old 04-13-2013, 03:43 PM
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Glen Beck must have cashed in. Suckers!
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  #7  
Old 04-13-2013, 04:43 PM
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All the gold people are selling it off to buy ammo and guns.
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  #8  
Old 04-13-2013, 04:57 PM
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Talking

In an Up market, gold has found a relative to model:

I don't know which would be worse to hold; gold or appl:

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Gold prices....  Going Down! (again)-getattachment-appl.jpg  
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  #9  
Old 04-13-2013, 08:40 PM
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Quote:
Originally Posted by Hatterasguy View Post
All the gold people are selling it off to buy ammo and guns.
Makes them even bigger suckers.
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  #10  
Old 04-13-2013, 10:36 PM
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Gold should track reality.Reality is still otherwise than some reports suggest I believe. The economy getting better is relative and I hope it is overall. Whatever it is I have to call it the new economy as it may not eventually have all that much simularity to the past one in north america. Thats if it even still has today. Personally I have my doubts.

Many of my current expected expendatures this year are being based simply on people will continue leaving this world. Or dying if you preffer.

We had a meeting today outlining what we are about to engage in. I do not want all the work or involvement of a new operation. Some of my son in laws and brother in law believe I always know what I am doing so they want in on the ground floor with this one.. Maybe I have earnt that over all the years. Maybe not.

At one time I engaged things that where considered almost impossible to pull off. This one is simple by comparison. Or appears so but also appearances can be decieving.

We do not need the income it will produce at our age and it would change nothing. Other than perhaps another layer of security and something to do. Plus potentially a rock for our decendants to come as so much is currently unpredicatable. I have to have some motavation or justification to follow this course now.

For some people with imagination and drive plus experience this economy seems to be presenting some unusual oportunities now. Or at least I am seeing them.

If it takes off well I might consider franchising this one. It is pretty solid looking. It was interesting to discuss a lot of components of the potential operation today. As usual we probably will be unable to meet even regional demand for the first while.

Personally I expressed the ideal that the size of the operation should be limited and franchising if excess growth cannot be met easily. This will allow us to stay flexiable and paid up as well as a hard nut for competition to deal with when it occurs. Success is always copied in north america is a given.

With things I have done in the past competition always seems to materialise. Initually there always seems little of any signifigance.. I just do not want any serious stress component involved with this one both early on and later.

It has to be very solid as well because I could have to pass off management responsibilities and other involvement at any time because of my age.

To me it is sound enough that we could even finance franchises. Just have to find the right people. Will take about two years to reach that point though if we do. Maybe enough space for thirty potential franchises in north america.

Not a licence to print money by any measure. Yet run on a sound basis a lot better than most things today. No serious competition at all at this time. This item being manufactured in north america is also an important component of it's ability to engage the marketplace properly. I will try to update the members from time to time as this thing gets going.

Tomorrow we wil pick up a small load of equipment I purchased even though it is Sunday to train people on. Fortunatly we do not have to buy very much new production equipment.

What has to be still purchased though is automated to reduce job count unfortunatly. Otherwise it would take too much space and bodies to meet daily production requirements. One practice of mine is for any venture to be fully paid up when the doors open.

I am unaware if this is really astute still but it does allow operation in my comfort zone. Plus visualised targets of required production and sales levels are not as important to hit. If you fall somewhat short it is not as serious for example.In fact if for some reason you closed the doors not much would be lost or your existance impacted very much.

It is unfortunate that with operations like this shares or portions of the ownership are not for sale usually. The return on investment would be substantial if the firm is honest. Capital is self generated by the company or any expansion does not occur in an economy like todays. That is another reason why franchising has to be considered.

Two years from now what we know will be of serious value to potential franchises. My personal problem is making sure they operate by our operation manual and methods basically. You do not want an under preforming franchise operation out there.

My guess is it may be required to place one of our own experienced people in it till it is stabilized properly. This component is just a remote possibility in the future at this point. Still we cannot service all of north america and there is going to be growing demand to do so with this product.
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  #11  
Old 04-13-2013, 10:53 PM
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Gold drops on Cyprus bullion sale plan | Reuters
Quote:
Gold slipped to session lows on Wednesday, pressured as European Commission documents showed Cyprus plans to sell 400 million euros' worth of reserves to finance part of its bailout - a move that marks the biggest euro zone bullion sale in four years.
Riiiight. Bubble. Not banks manipulating markets, heavens no.
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  #12  
Old 04-13-2013, 10:57 PM
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And of course simultaneously:
Yen Gold All-Time High Driven By Monetary Stimulus | Gold Silver Worlds
Quote:
Yen gold is at all-time highs. Its gold price is simply reflecting the currency devaluation through the Bank of Japan balance sheet expansion and anticipating higher inflation.
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  #13  
Old 04-13-2013, 11:11 PM
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Four hundred million dollars worth hitting the markets is peanuts today. If released at 100 million a week say there may have been no downward price movement.

I smell market manipulation not really justified by reality. Brokers only make money on movements that cause activity. Or it is one method of many they have.

To hold some may not be wrong. Yet to trust gold as it historically has been anymore does raise some questions. Will it reflect the ever increasing money supply in lockstep properly from here on out or only become a totally speculative commodity. Time will tell. Rapid up and down movements from now on may suggest the latter. Many things are changing in the new economy as I visualise it.
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  #14  
Old 04-13-2013, 11:25 PM
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Central Banks Repatriate Gold: How Will This Affect Investors? | Daily Ticker - Yahoo! Finance

Oh sure. Central banks all over the world want to hold more gold, and along with silver, demand is increasing, but nope. Just a coincidence that it's market price drops despite those two very glaring facts.
It's held value for 6000 years, longer than the construct of government itself. I think it's safe.
Quote:
Four hundred million dollars worth hitting the markets is peanuts today
And not surprisingly, it's down less than $200 over the past month. IE, not a great deal. Let's not pretend it tanked or anything. It's in a valley, and still higher than it was 4 years ago, and up over 400% since 2000.

But of course manipulation never happens anyway:
Goldman Sachs Is Manipulating Gold Prices Right Before Your Eyes - Money Morning
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  #15  
Old 04-13-2013, 11:42 PM
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Oh, and what do we have here?! Our pals at JP Morgan are in on the racket. 400 mil peanuts? Let's add that to the additional $3?4? billion or so seen here:
Comex Gold Inventories Collapse By Largest Amount On Record | Bull Market Thinking
Of course, not selling, just shuffling things around...

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