Gold has dropped 7% this month.

I asked a fellow who has been trading metal for about 45 years what he thought was going on and he said it had something to do with 'paper gold' and derivitives.

He is currently selling all his Gold and hanging on to his Silver since he says it has a commercial value.

Anybody here into gold or know what might be causing this price drop. This is an area about which I know very little.

Purchased some gold when it was about $400 per ounce. Sold off at $1,200ish and walked right away happy. I have some Copper I am holding on to as well.

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2015 ML350 4Matic. Wifes DD
2015 GLK350 4Matic. My winter DD
2012 E350 4Matic. Road Trip car
2009 CLK350 Coupe Designo.Kleemann Tune For nice days/DD
2006 CL600. V12.Eurocharged Tune. Enough said
2005 CLK55 AMG Coupe.Kleemann Tune. For the sound and style
2004 CLK320 Cabriolet. 2005+ Interior swap. For the sunny Florida days & beach days

That's what bubbles do.

Did we miss the scenarios where we'd be trading bullion for milk and eggs on the way to Thunder Dome?

The stock market is doing pretty well and the real estate market in certain areas is starting to look better. So the money will be moving, time for the gold bubble to pop!

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

Yup, gold only does well when everything else is a mess. Hopefully, the markets will start to move and won't get spooked by the next set of bad numbers that happens to come along.

Glen Beck's doomsday scenario doesn't seem to be holding water. His Goldline ads on cable are dwindling too....gosh, you don't think it was a SCAM or anything?

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You're a daisy if you do.
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84 Euro 240D 4spd. 220.5k sold
04 Honda Element AWD
1985 F150 XLT 4x4, 351W with 270k miles, hay hauler
1997 Suzuki Sidekick 4x4
1993 Toyota 4wd Pickup 226K and counting

Glenn Beck's $$$ going down the drain god forbid

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TC
Current stable:
- 2004 Mazda RALLYWANKEL
- 2007 Saturn sky redline
- 2004 Explorer...under surgery.

Past: 135i, GTI, 300E, 300SD, 300SD, Stealth

This reminds me of a municipal engineer I knew 30 years ago. He told me his sewage treatment plant operators used to do well cleaning the grit screens on the inlet from the town on Monday mornings. They would always score a few sets of false teeth, plenty of gold fillings & the occasional gold ring. Some weeks they would make more from their enterprise that they were paid for working there.
Who said there wasnt money in recycling!!

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Grumpy Old Diesel Owners Club group

I no longer question authority, I annoy authority. More effect, less effort....

1967 230-6 auto parts car. rust bucket.
1980 300D now parts car 800k miles
1984 300D 500k miles
1987 250td 160k miles English import
2001 jeep turbo diesel 130k miles
1998 jeep tdi ~ followed me home. Needs a turbo.
1968 Ford F750 truck. 6-354 diesel conversion.
Other toys ~J.D.,Cat & GM ~ mainly earth moving

Gold once rose so fast in 1978 that I knew a guy who bought three good coins on a credit card, watched them go up, sold them and then paid of the card when the bill came in.

I think he cleared about $80 on the deal.

But interest rates for home loans at the time were about 19% and inflation was said to be out of control, so it was a good time for gold.

I pointed out how lucky he was and he said luck had nothing to do with it. He had studied a lot of history in school and thought it was time to see if all that good 'ol book learning was worth anything!

Gold will never be valueless, unlike some stocks.

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1985 380SE Blue/Blue - 230,000 miles
2012 Subaru Forester 5-speed
2005 Toyota Sienna
2004 Chrysler Sebring convertible
1999 Toyota Tacoma

Each and every share of stock currently in circulation will eventually be worthless. That's an exception to the "never say never" rule, which says that gold may someday actually be worthless as well.

Oh man you beat me to it, literally within seconds! (look at post time) Great minds think alike?

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TC
Current stable:
- 2004 Mazda RALLYWANKEL
- 2007 Saturn sky redline
- 2004 Explorer...under surgery.

Past: 135i, GTI, 300E, 300SD, 300SD, Stealth

Do you have any idea of what they have to sort through to find that "treasure"?

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62 220sb
67 250S
72 280SE 4.5
74 280C
77 300D
82 240D
85 190E 2.3
86 300E RIP 12/28/09
85 300SD
92 300D 2.5
00 E320 Current
Over 1,000,000 miles in Benzes, Since66

....and a whole passel of BMW 2002 and Tii

It certainly isn't anything that would be discussed at the dinner table.....

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1982 300GD Carmine Red (DB3535) Cabriolet Parting Out
1990 300SEL Smoke Silver (Parting out)
1991 350SDL Blackberry Metallic (481)

"The thing is Bob, its not that I'm lazy...its that I just don't care."