gold getting killed!!!!!!!!!!!

[jk]

i've always wanted to use as many exclamation points as mega, and here's my chance: gold quoted down over 4% at 1501.
oh, almost forgot. !!!!!!!!!!!!!!!!!!!

[charliebrown]

Re: gold getting killed!!!!!!!!!!!

What are you trying to do JK??? put mega out of a job. Ohh those poor limey woman

[globaleconomicollaps]

Re: gold getting killed!!!!!!!!!!!

What are you trying to do JK??? put mega out of a job. Ohh those poor limey woman

I'm pouring one out for poor Mega who is no longer allowed to post in news. Also for me who is now poor.

[vinoveri]

Re: gold getting killed!!!!!!!!!!!

Our thesis about gold shall be proven right ... one day ... hopefully during my lifespan .... and then we will be vindicated .. at least for a short while until TPTB relieve us of our windfall .... OK now for the "conspiracy" 1) CB own gold and can lease and thereby manage the price of gold down or maintain a reduced price level thereby supporting confidence in fiat currency systems 2) physical buying continues by individuals, China, etc 3) CB lose control of paper markets/price of gold after are dwindling reserves that have been transferred to physical holders; 4) CB and gov call in the gold to reset monetary system - go to step 1.

[verdo]

Re: gold getting killed!!!!!!!!!!!

This is kind of what I've been expecting to happen, which is why I held on to USD for a while. I'm surprised stocks aren't down by more though, but the day ain't over

[ProdigyofZen]

Re: gold getting killed!!!!!!!!!!!

I'm pouring one out for poor Mega who is no longer allowed to post in news. Also for me who is now poor.

Mega isn't allowed to post anymore?

Gold is down because oil is down. As EJ has said they are inextricable. The change will occur later in the year when US oil numbers come out showing that we didn't increase production from 7 mpb to 8 mpb like everyone expects.

[EJ]

Re: gold getting killed!!!!!!!!!!!

Why is gold getting killed? Explained here.

[ProdigyofZen]

Re: gold getting killed!!!!!!!!!!!

Why is gold getting killed? Explained here.

Obrigado! I hadn't checked to see if you posted today or not.

[goadam1]

Re: gold getting killed!!!!!!!!!!!

interesting coincidence that the times has a hatchet piece the same day as as gold gets killed.

[pianodoctor]

Re: gold getting killed!!!!!!!!!!!

Interesting that I DID check for EJ's latest posts and the one above was not (yet) listed. Good thing I went against my better judgement and allowed myself to be suckered in a multiple exclamation point thread, then saw EJ's above.

[doom&gloom]

Re: gold getting killed!!!!!!!!!!!

Obrigado! I hadn't checked to see if you posted today or not.

Thats some fancy português lingo there!

Eu gosto português muito! E uma idioma tanto interessante!

[ProdigyofZen]

Re: gold getting killed!!!!!!!!!!!

Thats some fancy português lingo there!

Eu gosto português muito! E uma idioma tanto interessante!

It is the worlds 6th most spoken language. The leading language of the largest country in the southern hemisphere (population wise) plus Portugal, Mozambique, Angola and Macau.

Brasil has a population of 188 million with a nation the size of the continental US and virtually energy independent with all of their oil and sugarcane production.

All the cars run on ethanol.

[EJ]

Re: gold getting killed!!!!!!!!!!!

interesting coincidence that the times has a hatchet piece the same day as as gold gets killed.

The NYT, Goldman Sachs, and the rest of the usual suspects. Now that gold is again officially "cheap" and in "bear territory" we can be sure that all of the investors who have been saying gold is "too expensive" since the price hit $1,000 will now feel vindicated for not buying at $1,700. One can always count on human nature.

If oil prices were rising we'd be concerned. They are not, so we aren't.

[doom&gloom]

Re: gold getting killed!!!!!!!!!!!

It is the worlds 6th most spoken language. The leading language of the largest country in the southern hemisphere (population wise) plus Portugal, Mozambique, Angola and Macau.

Brasil has a population of 188 million with a nation the size of the continental US and virtually energy independent with all of their oil and sugarcane production.

All the cars run on ethanol.

Sim! Eu se tuto também.

[DRumsfeld2000]

Re: gold getting killed!!!!!!!!!!!

I actually feel a bit better after reading EJ's piece, but I must admit that I was actually a bit nervous opening Kitco today to look at the gold price. My portfolio is massacred and I did not expect to see gold over $80 down. If it stays above $1400 I will be relieved but I am not sure it will. Long term it will rise but for this year it will be bad. As regards gold equities, the danger is that they will get really beaten up and then bought out at crazy levels where one still makes a loss. If one has cash and is feeling brave then a buying opportunity will come, but not for a while. There is more blood to flow yet.