#1
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Bad Day For Gold
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#2
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Re: Bad Day For Gold
So it lost like 1%?
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#3
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Re: Bad Day For Gold
More like 5% from the high of 645 or so down to 613.
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#4
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Re: Bad Day For Gold
[ QUOTE ]
More like 5% from the high of 645 or so down to 613. [/ QUOTE ] Oh, I thought it said last night that it lost $7. I was drinking, but not so much that I shouldn't have been able to divide. My bad. |
#5
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Re: Bad Day For Gold
The shakeout, after the near-parabolic rise in gold recently, is a constructive and necessary cleasing process.
Those that have weak conviction are shaken off the trend, creating opportunity for existing and new participants. New players jump in for the first time. Existing players add to existing profitable positions. When the trend weakens, dispassionate trend followers loiter near the exits. When the trend ends, they leave the party. But, when the trend in in 100% full force and effect and temporarily tests a trendline, old and new smart players take over, at absolutely great reward-to-risk ratios. The old players add to existing positions. The new trend players who jump in at a test of support replace those of weak conviction, who sell. These weak-conviction players sell for the same reasons they buy. These reasons are listed below: (*** NONE ***) . . . . |
#6
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Re: Bad Day For Gold
[ QUOTE ]
More like 5% from the high of 645 or so down to 613. [/ QUOTE ] I think the bigger story is silver, losing as much as 20% |
#7
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Re: Bad Day For Gold
[ QUOTE ]
[ QUOTE ] More like 5% from the high of 645 or so down to 613. [/ QUOTE ] I think the bigger story is silver, losing as much as 20% [/ QUOTE ] Did the silver ETF launch yet? Silver had been outpacing gold for some time. |
#8
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Re: Bad Day For Gold
Probably has nothing to do with the price movement, but found this interesting nugget in the WSJ today.
[ QUOTE ] Over the next three years, the IMF figures it may sustain operating losses of nearly $600 million, and have to dip into its nearly $9 billion in cash reserves to cover the shortfall. To reduce the red ink, the Fund has already capped personnel levels at 2,800 and is planning budgets that would lag behind the rate of inflation. It may start charging nations for technical advice that the IMF now provides free. If that doesn't work, it may have to tap its vast gold hoard of 103 million ounces, valued at $63.5 billion at today's prices and held in the vaults of IMF member nations. [/ QUOTE ] |
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