MercoPress. South Atlantic News Agency
Investors dumping precious metals: gold fall the biggest since 1980
Gold futures plunged more than 9% on Monday, marking the biggest one-day percentage fall in 30 years and extending losses over the past two sessions to more than 13%, as the precious metal pushed deeper into bear market territory. The June contract for gold settled at 1,361.10 dollars an ounce on the Comex division of the New York Mercantile Exchange, 140.30 or 9.3% lower than the previous session's close. Read full article
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Disclaimer & comment rules“Investors dumping precious metals: gold fall the biggest since 1980”
Apr 16th, 2013 - 03:49 am - Link - Report abuse 0the “players” are Goldman Sachs, Deutsche Bank, JP Morgan and ABN AMRO who defaulted on delivery of physical..(sorry, you get paper, forget about gold, you don't need it, paper is much better). They are the ones that buy up physical gold for a very great price (duh, the players are the ones who manipulate it..the markets are rigged, and who hasn't figured that out yet is a moron). This isn't coincidence but perfectly timed before (and they knew) Cyprus would sell it's gold because they need more money for the bailout.
Agenda was clear. Crash it, scare the market (their message: stay away from gold, gold is for losers, buy stocks and worthless US bonds..you don't need gold, nor silver, get paper, so much better), let the sheep sell their physical, raise the margins if you hold paper (suckers, if you don't hold it, if you cannot pay the margin it's not yours anymore). Those are the same players that also attacked bitcoin exchange MTGOX succesfully shorterm. Good news is, long term they aren't going to win, because the game will be over.
Poor Isolde.
Apr 16th, 2013 - 04:34 am - Link - Report abuse 02
Apr 16th, 2013 - 08:45 am - Link - Report abuse 0... and poor Chris...
Explained easily enough. China coughs and the world catches a cold! Simples.
Apr 16th, 2013 - 09:13 am - Link - Report abuse 0Poor Argentineans and Venezuelans.
Apr 16th, 2013 - 12:40 pm - Link - Report abuse 0Sky high inflation together with tanking and increasingly worthless currencies and now gold tumbles.
What will they save in? US dollars?
PMSL
@2 /3
Apr 16th, 2013 - 12:47 pm - Link - Report abuse 0Why? When did they buy?
If they bought in 2006 when it was $500/ounce or 2007 when it was $600 or 2008/9 when it was $900 or even 2010 at $1100 they are quids in, no?
@1 Why are you so paranoid? Anyone who wants to buy physical gold can do so. It is very easy.
Bitcoin? Don't be fooled the same players are behind that too.
@1 Why are you so paranoid? Anyone who wants to buy physical gold can do so. It is very easy.
Apr 16th, 2013 - 06:54 pm - Link - Report abuse 0What paranoid? I didn't sell anything. This is a great buying opportunity. The real losers are the ones that are selling their physical gold and the ones that hold paper where it claims they hold gold (no you're not,margins went up and if you cannot pay, you lose..period).
“Bitcoin? Don't be fooled the same players are behind that too.”
Bitcoin is a DECENTRALIZED encrypted system. It's a revolution what the losers (central banksters) hate. What players? The players who don't use it as an investment don't loose anything. The players who were behind of crashing the price of bitcoin vs the dollar where the same private central bank holders who are desperate to make bitcoin look bad (they fail).
Again, what happened is to keep people out of gold and to buy it for a good price. We the People who pay attention know that this is a buying opportunity.
OMG Bitcoin!
Apr 16th, 2013 - 09:47 pm - Link - Report abuse 0Don't the Winklevei owns 1% of all Bitcoins?
Do gold has dropped 20% since August 2011. That's over the past 20 months.
Bitcoin was worth $10 at the start of the year. Climbed to $260 in as little as 3.5 months and then crashed to $77.
Can't wait for this bubble to burst.
http://blogs.ft.com/beyond-brics/2013/04/16/bitcoins-gain-traction-in-argentina/#axzz2Qf8ImirQ
The economics knowledge of Argentineans astounds me.
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