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08/25/2011 05:18 AM ID: 90638 Permalink   

Gold Futures Plummet, Biggest Drop in Three Decades


Gold futures posted their biggest single-day loss of value since 1980, plummeting more than $100 on strong U.S. economic data and the expectation that the Federal Reserve will introduce further stimulus.

Volume looked to be a record as money managers competed to dump gold futures, and the value of gold bullion is now more than $150 below the recently hit all-time high of $1,911.46 per ounce.

Speculation is that the Fed may reveal plans to ease monetary policy later this week. Silver suffered a similar loss of value, dipping nearly 6 percent to $39.34 per ounce.

    WebReporter: Ben_Reilly Show Calling Card      
ASSESS this news: BLOCK this news. Reason:
  alright all your speculators  
better cash out now and savor your winning on another speculative market
  by: conflictdiamond   08/25/2011 05:21 AM     
Money managers traded gold ... for dollars?

Do their companies block access to YouTube or something?

  by: Ben_Reilly     08/25/2011 05:31 AM     
Now if we could just scare those sons of whores out of the oil business we might be onto something.
  by: VermiciousG     08/25/2011 05:39 AM     
The dollar hasn´t fallen enough, probably two more years till we´re back at this. Gold hasn´t been driven to the extremes like oil just yet.
  by: starlock   08/25/2011 06:42 AM     
CME raised gold margins by 27%, t paper manipulation to drive the price down = its on sale! Fundementals havent changed, time to buy more

There is no speculation when educated. There is no ceiling for gold/silver, when there is no floor for dollar

[ edited by T-bagger ]
  by: T-bagger   08/25/2011 11:28 AM     
Staying in any Dollar denominated asset is speculative imo. You are speculating that the dollar will survive. Why have money in something that goes down, and has been for a decade? This is where understanding economics makes you money. We are in a PM/Commodities bull market, Stocks/Housing in bear

I think you need to raise your financial IQ
  by: T-bagger   08/25/2011 12:13 PM     
  The wallet people  
will fuck the gold too.
  by: Kaleid   08/25/2011 01:19 PM     
  Control Freak GS  
The gold market is reacting to George Soros selling some of his eleven tons of it. Yet, he buys stock in two gold mining firms. Interesting isn´t it.

[ edited by Mr.Science ]
  by: Mr.Science   08/25/2011 06:05 PM     
hows it feel to be part of the problem?
  by: conflictdiamond   08/25/2011 06:58 PM     
And it only took the market three months to react to his sale! Is that what you´d call a "delayed reaction"?
  by: Ben_Reilly     08/25/2011 07:00 PM     
Be apart of what problem? I think you might be trapped in the USA "media bubble" if u listen to any talking heads from there you will stay uninformed. Its a lot different outside of there in the rest if the world

[ edited by T-bagger ]
  by: T-bagger   08/26/2011 02:24 AM     
Firstly, I think he´s talking to Secondly, You´re living in a dream world if you think you´re not influenced by the media. At best we are influenced by different sources. If you´re going to take the "Wake up, people!", "Think for yourselves!", "You just haven´t done the research that *I* have" approach then you are very literally insulting our intelligence. It´s elitist and it´s condescending and it is no way to win people to your side.

  by: VermiciousG     08/26/2011 03:33 AM     
Thats a good point about elitist.

I dont listen to any mainstream news at all. CNN, FOX,MSNBC, all of them. Its news-o-tainment. I listen to investors. Its a completely different narrative. MS news is the "Jersey Shore" version. Americans should really listen to other sources, its different. The reporters are more objective/professional
  by: T-bagger   08/26/2011 05:13 AM     
"news-o-tainment" I´ll write that one down.
  by: VermiciousG     08/26/2011 05:25 AM     
  Just wondering?  

"I don´t listen to any mainstream news at all. CNN, FOX,MSNBC, all of them. Its news-o-tainment."

If you don´t listen to any of them at all, how would you know?

Seems to me an informed person listens to them all to make an informed judgement. Oh well that´s just my thoughts.

[ edited by ichi ]
  by: ichi     08/27/2011 12:28 AM     
You only have to sit through a few sessions of any of those broadcast networks to realize they´re all the reality TV of news. They´re all fighting for ratings over the other, and so all the muck they produce is par for the course. The fact that most people consider the American news world to consist of only MSNBC, CNN and FOX news speaks volumes. What if watching ALL of them leaves the viewer wishing for something better? Just because we´re offered 3 major networks doesn´t mean any of them actually satisfy.

Kind of like the major political parties =P

[ edited by Dayron ]
  by: Dayron   08/27/2011 12:59 AM     
I should clarify. I have CNN on at work for background noise. I dont "listen" to anything they say. More for whats going on. Wolf Blitzer is terrible along with everyone else. Its very manipulative. 24 hour news channels are the devil

[ edited by T-bagger ]
  by: T-bagger   08/27/2011 05:14 AM     
This happened the following day after we seized Libya´s gold .. I know they call it Gaddafi´s but it was suppose to be turned over to the people of Libya but instead it is being used to counter act the market

  by: key2000     08/27/2011 06:39 AM     
  I Offer Richard Engel  
And his expertise on the Middle East to prove my point. I have seen none better at this time with a superior on the ground analysis of the events he reports on while putting himself in harms way.

If you refuse to monitor the available sources you probably don´t know of him.

[ edited by ichi ]
  by: ichi     08/27/2011 07:29 AM     
  In Canada  
The news is very different. We have fairly boring, mono-tone/objective voices just reading the news. You couldnt tell if they are pro-con the story. They just read it to you like on auto-pilot. Any opinions would basically be from witness interviews or "experts" with a balance.

In the US, its a bunch of Mary Harts Yapping their opinions mixed with questions, with the sneaky "some people say...questions" Its garbage. It truely is "National Enquirer" of politics/News. Americans are trapped in this crap so I dont blame them one bit if this is all they are fed.

Thank god for interwebz
  by: t-bagger   08/27/2011 07:59 AM     
  Good time to Buy  
What we saw here was what I refer to as a mini-correction, much like what we saw with silver a several months back.

Speculators rushed into silver too fast, and it skyrocketed by 6-7 in a matter of days. Then investors got worried about a bubble and sold off. That was then the time to buy.

Same here.

When gold dropped to $1713 spot I got excited. That was the the time to buy. It might be the last time in 10-20 years that we see gold this cheap
  by: Questioning_Answers     09/17/2011 02:51 PM     
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