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Super-rich investors buy gold by ton

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  • Super-rich investors buy gold by ton

    http://www.reuters.com/article/idUSTRE6932NR20101004

    The world's wealthiest people have responded to economic worries by buying gold by the bar -- and sometimes by the ton -- and by moving assets out of the financial system, bankers catering to the very rich said on Monday.

  • #2
    Re: Super-rich investors buy gold by ton

    VERY WORRYING.

    Silver also up $1 on the day (24 hour) so far. Memories of a huge drop are never far when these stories pop up when prices are at or near record highs.


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    • #3
      Re: Super-rich investors buy gold by ton

      Originally posted by Spartacus View Post
      VERY WORRYING.

      Silver also up $1 on the day (24 hour) so far. Memories of a huge drop are never far when these stories pop up when prices are at or near record highs.
      I think stories like this are being pushed to reinforce the idea that gold is a bubble. Not that I think it couldn't have a correction but if you ask the average person about gold they'll say "Why would I ever buy that? It's way overpriced." Everyone is talking about how gold is a bubble and it's due for a correction which makes me think everyone is waiting for it to correct so they can buy.

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