Gold Bubble BURST OH NOES

F

fishball

New Member
Silver Stacker
http://www.smh.com.au/business/markets/gold-bubble-bursts-20110924-1kq5f.html

Gold crashed more than $US100 on Friday as a slide turned into a free fall, with weeks of volatility, renewed strength in the US dollar and talk of hedge fund liquidation wrecking its safe-haven status.

The slide made the two-day plunge for the yellow metal the deepest since 1983. Silver fared just as badly with futures posting their worst day since 1987.

More than $US3.4 trillion has been erased from equity values this week, sending a global measure of shares into a bear market, on concern that governments are running out of tools to avert a recession. The Standard & Poor's GSCI Index of 24 commodities fell to a nine-month low today.

Gold has dropped 15 per cent since reaching a record $US1,923.70 an ounce on September 6.

The gold sell-off came even after relative calm was restored to the stock and oil markets following Thursday's losses. Bonds also dived with gold and silver as investors took profit on a near week-long rally in US Treasuries.

Widespread talk of possible selling by big hedge funds covering losses in other markets set off one of the biggest routs on record in the precious metals group.
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ORLY?
 
"Gold crashed more than $US100 on Friday as a slide turned into a free fall, with weeks of volatility, renewed strength in the US dollar and talk of hedge fund liquidation wrecking its safe-haven status."

or in other words - gold dropped 5%
 
Yeah I fail to see how a 5% drop can be considered a 'crash' or a 'free fall'. A lot of shares drop by that much in 24 hours quite regularly.

If 5% is a crash, WTF do they call what just happened to silver!? (20%+ in 1 day)
 
Sept 6, 22 metric tonnes of gold dumped onto the market 5 minutes before the Swiss National Bank announced the CHF-EUR peg.
Sept 15, UBS announces $2.3billion through trading losses of 1 guy.
Sept 23, gold down against all fundamentals screaming the opposite.

If I was a coincidence theorist I might suspect that the Swiss will have all that gold back by Monday morning, and the snr UBS execs will still get their bonuses (or at least be given nice government jobs to move on to)
 
Also I see CME put 15-20% margin hike on gold and silver just to help things along, be interesting to see if JPM ect do the Option expiry day attack aswell.
 
systematic said:
projack said:
Do not forget; Option expiry on Tuesday
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can you talk more on this projack

i like your insight :)
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There was a good detailed article analysing gold price, and the drops few days before option expiry in the last few years. I can not find it now.
This is an older link is similar, but not going into the details much, but if you goggle "gold price drop option expiry" you find many articles and information.
http://www.marketoracle.co.uk/Article20677.html
 
I thought it was low 1400s hasn't been below that since late FEB? Rhetorical question anyway :)
 
If you bought share or property you lost money, if you bought bonds, or kept your money in cash you did not go anywhere, but gold still around 20% ahead this year.
 
jpanggy said:
Ummm i hope u guys will invest more carefully. Dont turn into gold bugs.
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Yeah,right on Jpanggy.
Last 2 years have been an unprecedented profit tacking period for gold.
The investment outlay vs profit takings as a return percentage have won me over.My shares,property,platinum,palladium,silver conversions are going to be plied straight into Gold.
That yellow stuff is just beautiful!!

REDBACK
 
Big George
george_soros5.jpg

Source: Illuminati scum.
 
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