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Gold no longer a safe investment!!! (NYT propaganda)

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  • #16
    Re: Gold no longer a safe investment!!! (NYT propaganda)

    Originally posted by globaleconomicollaps View Post
    looks like it will bottom soon:
    UPDATE: 1510 now.
    Update: make that 1505

    Is it too early to drink?
    Not too early. I'm decanting a good Burgundy while organising my next purchase.

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    • #17
      Re: Gold no longer a safe investment!!! (NYT propaganda)

      Gold just dropped to 1488.50. My my

      Seriously though, what is causing oil and gold to tank like this today?
      Last edited by verdo; April 12, 2013, 02:35 PM.


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      • #18
        Re: Gold no longer a safe investment!!! (NYT propaganda)

        Hmm. It must have something to do with Cyprus being made to sell 3/4ths of their gold reserves on the open market to pay off for some of the bailout costs

        http://www.telegraph.co.uk/finance/f...-eurozone.html


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        • #19
          Re: Gold no longer a safe investment!!! (NYT propaganda)

          This is six, seven, eight tons or so. A spit in the ocean for a sovereign. What is really going on here? If gold / oil reverts to 15, We could see 1370. Every new article I read has some central bank buying more and more gold. I bought today BV and phys. I checked apmex they are well stocked and premiums are still about the same as they always are. Also it seems like the retail investor should be motivated to buy. What would you buy if you lived in Japan and just saw your currency cut by 25%. What about a periperhy European wondering if their bank will be the next bail-in institution.

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          • #20
            Re: Gold no longer a safe investment!!! (NYT propaganda)

            Originally posted by charliebrown View Post
            This is six, seven, eight tons or so. A spit in the ocean for a sovereign. What is really going on here? If gold / oil reverts to 15, We could see 1370. Every new article I read has some central bank buying more and more gold. I bought today BV and phys. I checked apmex they are well stocked and premiums are still about the same as they always are. Also it seems like the retail investor should be motivated to buy. What would you buy if you lived in Japan and just saw your currency cut by 25%. What about a periperhy European wondering if their bank will be the next bail-in institution.
            Yup, buying more when markets open on Monday. I'm even considering writing some AUG 144 puts on GLD.

            When Gordon Brown announce the UK was selling, the market tanked well before the event. I imagine the same is happening with Cyprus.

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            • #21
              Re: Gold no longer a safe investment!!! (NYT propaganda)

              I'm selling my gold and cashing out. The king is dead and his crown is being melted down!

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              • #22
                Re: Gold no longer a safe investment!!! (NYT propaganda)

                Aaaand gold ended at $1477. This was quite the crush across all the precious metals today.

                I wonder if they are gonna tell Portugal to sell their gold next?

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                • #23
                  Re: Gold no longer a safe investment!!! (NYT propaganda)

                  Originally posted by BadJuju View Post
                  I'm selling my gold and cashing out. The king is dead and his crown is being melted down!
                  I'm buying here. Long term I like this fallout. I've been wrong as often as right in my life but overall I'm OK. I like gold here.

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