What made gold drop $100 in less than a week?

Discussion in 'Gold' started by stacknowlaughlater, Nov 4, 2015.

  1. stacknowlaughlater

    stacknowlaughlater Active Member

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    This time last week gold was at $1650aud and now its at $1550aud.

    Im just wondering if anyone knows the reason why gold as well as other precious metals dropped so much in such a short period of time?
     
    stacknowlaughlater, Nov 4, 2015
    #1
  2. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    leon1998
     
    Skyrocket, Nov 4, 2015
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  3. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    [youtube]http://www.youtube.com/watch?v=gXcBh17wSBM[/youtube]
     
    Holdfast, Nov 4, 2015
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  4. hiho

    hiho Active Member Silver Stacker

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    sellers
     
    hiho, Nov 4, 2015
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  5. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    My dog farted :eek:
     
    spannermonkey, Nov 4, 2015
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  6. Silverthorn

    Silverthorn Well-Known Member

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    Fed talking up the chances of a rate hike in December.
     
    Silverthorn, Nov 4, 2015
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  7. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    All part of the plan.

    Massive increase of shorts and some well timed Fed comments right when gold was approaching a well established line of resistance on the downward trending gold chart. Smackdown was well executed and now it's the "geniuses" using "technical analysis" who blindly follow the trend and are selling it down. The greed of those guys is what makes the bigger move (and also lines the pockets of the Fed cronies who took the big shorts near the resistance level)

    I, like many, will not be buying again until some kind of support is found. It's unlikely to be this month....
     
    BuggedOut, Nov 4, 2015
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  8. SilverDJ

    SilverDJ Well-Known Member

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    I'm buying more now, because whilst I think gold will go a bit lower, I have no idea what the AUD is going to do.
     
    SilverDJ, Nov 4, 2015
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  9. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    If you are concerned about AUD going down then I'd recommend buying USD ETFS on the ASX or even Bitcoin. Though it might be a bit late to be recommending Bitcoin. While Gold failed to have an upside breakout, Bitcoin has broken out quite spectacularly.
     
    BuggedOut, Nov 4, 2015
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  10. JulieW

    JulieW Well-Known Member Silver Stacker

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    or you could create a paper facsimile and use that to destroy the masses' belief in gold as a store of value.

    and now:

     
    JulieW, Nov 5, 2015
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  11. systematic

    systematic Well-Known Member

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    might be a good signal that rates wont be going up ...
     
    systematic, Nov 5, 2015
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