Gold falling off a cliff. Making a new low.

Discussion in 'Gold' started by TheEnd, Oct 31, 2014.

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  1. TheEnd

    TheEnd Well-Known Member

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    Gold just dropped a whole $30 within half an hour. Seems to be doing very poorly since end of QE announcement. Seems to be falling to a new base level.

    How far is it going to go? :mad:
     
    TheEnd, Oct 31, 2014
    #1
  2. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    here there everywhere
    :rolleyes:
    I'll tell you when it hits the ground & bounces back :D
     
    spannermonkey, Oct 31, 2014
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  3. JulieW

    JulieW Well-Known Member Silver Stacker

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    Headlines :

    Forecasters Reputations in Tatters.

    Comex Defaults.

    Harry Dent dines out.

    Kingworldnews domain for sale.
     
    JulieW, Oct 31, 2014
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  4. finicky

    finicky Well-Known Member Silver Stacker

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    Bo Polny
    "Gold has placed a triple 2-year chart bottom at $1180 and will NOT break."
     
    finicky, Oct 31, 2014
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  5. finicky

    finicky Well-Known Member Silver Stacker

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    Richard Russell - October 7, 2014
    "Gold I can't prove it yet but I believe the last decline in gold knocked out the last of the gold bugs and gave gold, technically, a clean slate. I believe we saw the ultimate bottom of the gold bear market on Friday"
     
    finicky, Oct 31, 2014
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  6. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    You knew all along Julie. I recall quite a few months back you backed the US for a recovery and turned your back on gold, your words to some effect " I haven't lost yet" I also recall quite a few months back (6 months plus) that a old timer billion air also backed the US for recovery against gold.

    Julie! would you mind giving your 6 month forecast on gold please.

    Many thanks in advance.
     
    betterinvestmentthanshare, Oct 31, 2014
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  7. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    Cough, cough............................its now the end of October.

    Maybe he will revise on November 7 2014 with the same statement.:rolleyes:
     
    betterinvestmentthanshare, Oct 31, 2014
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  8. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    I pulled out of cash a few weeks ago..................................keeping an eye on things though or more to say the All Ord's.
     
    betterinvestmentthanshare, Oct 31, 2014
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  9. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    A bit of perspective:

    $70au plus drop in a week and a bit.

    Scary!!!!!!!!!!!!!!!!!!!!!
     
    betterinvestmentthanshare, Oct 31, 2014
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  10. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    One of the benefits of living in Oz, the exchange rate's impact on the gold price

    [imgz=http://forums.silverstackers.com/uploads/753_screen_shot_2014-10-31_at_62448_pm.png][​IMG][/imgz]


    Source:http://goldprice.org/
     
    mmm....shiney!, Oct 31, 2014
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  11. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    With the AUD tracking gold mostly, it's possible that it won't make a scrap of difference to us.
     
    mmm....shiney!, Oct 31, 2014
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  12. JulieW

    JulieW Well-Known Member Silver Stacker

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    Thanks for the confidence BITS, but I don't have a clue and that was probably a wild guess at the time - which must put me in the middle of most prognosticators.

    In six months I expect we'll be around $1400 AUD, but last week I thought we'd be at least $2k AUD by January. I know nothing and none of it makes any sense. The thing to remember is that this is a paper market in a fractional gold market.

    If anyone is selling gold ounces at $1171 plus 3% please PM me.
     
    JulieW, Oct 31, 2014
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  13. dccpa

    dccpa Active Member

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    Let me adjust some of the posts

    David Morgan was incorrect.

    Bo Polny was incorrect

    These statements can also be used for everything posted by, Hathaway, Turk, Von Greyerz, Sinclair, Embry, Sprott, etc., etc., etc.

    Julie, I will likely sell some gold today. I would have preferred to sell higher, but the gold was hedged through DSLV. I sold half of those coins at $1240-44 a week or two ago and was going to sell the other after a bounce off of $1190.
     
    dccpa, Oct 31, 2014
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  14. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    This is more about an artifically strong US dollar. Japan and their Yen have gone full retard. This is going to have major ramifications around the world in regards to deflation so I wouldn't expect a bounce back in gold or silver anytime soon but it is one more baby step towards the implosion of the global economy.
     
    Caput Lupinum, Oct 31, 2014
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  15. Altima

    Altima Well-Known Member Silver Stacker

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    Would be interested in seeing the gold pieces you're letting go.

    My wife has suddenly turned into a buyer all of a sudden.
     
    Altima, Oct 31, 2014
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  16. dccpa

    dccpa Active Member

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    1oz AGEs. I may sell some of the fancier stuff later, but AGEs can be sold in quantity quickly.
     
    dccpa, Oct 31, 2014
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  17. TheEnd

    TheEnd Well-Known Member

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    These news lows may only be temporary......Schiff and Rickards are saying QE4 is'nt too far away in 2015 sometime which pretty much makes sense if the latest stats and figures saying the U.S economy is improving are fake.
     
    TheEnd, Nov 1, 2014
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  18. finicky

    finicky Well-Known Member Silver Stacker

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    So now gold and silver are dependent on artificial stimulus for price appreciation?
    QE4 "in 2015 sometime" leaves plenty of time for the metals to go much lower.
     
    finicky, Nov 1, 2014
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  19. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Biggest things to watch next week are apart from the YEN/USD rate is manufacturing and services PMI coming out of China and Europe (Germany) as well as the ECB meeting on Thursday. Both will influence the USD index and gold price in the short term
     
    Caput Lupinum, Nov 1, 2014
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  20. finicky

    finicky Well-Known Member Silver Stacker

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    How do you read that? I'm seeing comex spot close as 1173.50 on stockcharts.com, and made a low of 1160.50
    Kitco reads as 1172.50
     
    finicky, Nov 1, 2014
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