What does the average Man in the Street make of this?

Friggen huge PM price drop will be on lots of TVs and Radios I reckon.

Not as exciting as The Voice and MKR, but surely some people will see that things are NQR?

 

They wouldnt have a clue & wont even blink

 

Nope - headlines on "The Age" website mention nothing specific about PMs dropping

Only related story is the rout in the mining stocks b/c of the gold price

Joe public will be more worried about the latest episode of MKR

 

News media here in the USA is mostly reporting Goldman Sachs recommendation to short gold:

http://www.fool.com/investing/gener...ds-top-bank-tells-investors-to-shun-gold.aspx

I can only imagine that Goldman Sachs is buying with both fists as their clients sell.

Oh, and lol at the bolded part. Analysis of the COMEX open interest tells a different tale.

 

Boo with that heading I was sure you were going to show up a nice big nugget.
The average guy on the street would ask what it was, still a long way to educating sheeple.

 

Headlines I saw today were a share market "bloodbath" and thats because of a 1% drop. Usual journalistic crap. 1% drop is a "bloodbath" followed by how YOU lost $24 Billion today but a 1% rise hardly rates a mention as is usually referred to a "good day on the market".

As for PM's off 15% in a week, well, I dont think simpleton editors could possibly have a word to describe that !

 

Better to report the next 2 weeks.

 

You said you'll do it. Im quite busy at present so glad to let you follow up your own theory.

Be interesting to check prices and such, but nuggs are individual things so it isnt simply apples v apples.

Appearence, rarity, size, purity all make a difference, particularly on ebay. So does quality of pics and sales spiel.

 

Depends on which country the street is in?

In Cyprus they may have a completely different take than Australia.

 

Well two people to whom I've mentioned gold in the past and who are definitely not goldbugs, told me today that gold was down and they will be buying since price is so low.

Maybe not evidence but interesting that some people see the game and buy in when they can afford it. Seems they know it has a good future.

and p.s. they both watched the 70's gold explosion and paid housing interest at 15% in the 80's.

 

Mate of mine who works in finance asked me today where I track the gold price, he was curious as it was a price he felt he should watch but found it amusing that there were people buying when the price was dropping...

My response to that was along the lines of: Gold?!? Where? WHERE!?!

 

this,told that to my workmate and all he said is "aham"...did not care at all...

 

I imagine the average person on the street would not know and of those that had most would probably no doubt back whatever negative speal they had heard.

Unless of course your in India....they know the value of gold and most probably not as gullible when it comes to money / gold.

Most from the West will know when its either at or near a new high or out of reach.

 

Same. I told my mechanic about the big drop in price, and his reply was " someone must have found a lot"

 

We'll I'll be the first to admit
That a lot of mechanics are just dumbass's in general
You can't talk to them about anything else but cars

 

Cluey mechanic. Goldmann Sachs, JP Morgan et al found a whole bunch the past couple of days (especially from the various gold ETFs) to help close out their gold leases with the Fed as everyone asks for their gold back.