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Do you own gold?
- Thread starter OohPooPahDoo
- Start date
CrusaderFrank
Diamond Member
- May 20, 2009
- 146,970
- 70,113
- 2,330
Mad Scientist
Feels Good!
- Sep 15, 2008
- 24,196
- 5,431
- 270
OohPooPahDoo
Gold Member
- Thread starter
- #4
There's a huge selloff going on right now... in the Paper Gold Markets, which has happened before (fairly recently)
You DO know that there are Paper and Physical Gold Markets right? And that those are two different things?
google arbitrage
Looks more like a buying opportunity to me. BTW the DOW is also falling like a rock, down 260+.
Interesting observation, rather puzzling to say the least. So China has reported slower growth, the Euro is demonstrating continuing weakness and cracks in its very foundation, US economy is tepid at best, and the DOW is down. Has Gold run its course? Maybe it is time to give physical Gold a strong look see, great hedge. Sounds like someone is unloading a rather large amounts possibly to help bail its economy out. China after all has been the largest consumer for the past few years, and Cyprus remains on the abyss.
ba1614
Silver Member
Hopefully it drops even more so I can get more of it.
Looks more like a buying opportunity to me. BTW the DOW is also falling like a rock, down 260+.
Temporary correction because of the news that the Chinese economy grew by ONLY 7.7% in the first quarter! If the underlying economy wasn't looking better, gold wouldn't be going down.
OohPooPahDoo
Gold Member
- Thread starter
- #9
Looks more like a buying opportunity to me. BTW the DOW is also falling like a rock, down 260+.
GO ahead! Buy it! There were a lot of "buying opportunities" in fall of 1929. They only took 15 years or so to break even. Lot of "buying opportunities" on the downsides of the wild swings petroleum has had in the past few years - also a lot of opportunities to time it wrong and get fucked.
That's the thing about bubbles. Its not about whether you go long or short but whether or not you time them right. We all know they are going to burst - question is when.
Last edited:
OohPooPahDoo
Gold Member
- Thread starter
- #10
Interesting observation, rather puzzling to say the least. So China has reported slower growth, the Euro is demonstrating continuing weakness and cracks in its very foundation, US economy is tepid at best, and the DOW is down. Has Gold run its course? Maybe it is time to give physical Gold a strong look see, great hedge. Sounds like someone is unloading a rather large amounts possibly to help bail its economy out. China after all has been the largest consumer for the past few years, and Cyprus remains on the abyss.
Bet there's a lot of folks who bought "physical gold" who wish they had had the time last Friday to dig it up out of their backyard and rush down to the dealer to sell it. Hope you morons made good treasure maps.
OohPooPahDoo
Gold Member
- Thread starter
- #11
Looks more like a buying opportunity to me. BTW the DOW is also falling like a rock, down 260+.
Temporary correction because of the news that the Chinese economy grew by ONLY 7.7% in the first quarter! If the underlying economy wasn't looking better, gold wouldn't be going down.
Its an absurdly overvalued metal, that's why its dropping. Also, all that money going into those recent stock market highs has to come from somewhere and some of it is coming from people selling their gold.
Fact is there is no fundamental reason for it to be valued as highly as it is. With its volatility, using gold to hedge against inflation is like buying lotto tickets to hedge against inflation. It has value in industry but that isn't what is supporting its high price. The high price is being supported by two folks a) the Tea Party and b) investors trying to time the upside of the bubble.
Mad Scientist
Feels Good!
- Sep 15, 2008
- 24,196
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Gold is up today.
Gee I wonder who's buying?
Good representation about the swings in the Gold prices lately:
Presenting Gold's 7-Sigma Move | Zero Hedge
Gee I wonder who's buying?
Good representation about the swings in the Gold prices lately:
Presenting Gold's 7-Sigma Move | Zero Hedge
Truthmatters
Diamond Member
- May 10, 2007
- 80,182
- 2,272
- 1,283
- Banned
- #13
it was hyped by right wing radio clowns and now the BIG economic disastor they sold it on the backs of didnt happen.
oh poor minions
Not to worry though all the guys who sold it to YOU sold off at 1600 a couple of months back.
Enjoy your pretty shiney coins with ronny on one side and Palin on the other made of .00000000002 gold
oh poor minions
Not to worry though all the guys who sold it to YOU sold off at 1600 a couple of months back.
Enjoy your pretty shiney coins with ronny on one side and Palin on the other made of .00000000002 gold
OohPooPahDoo
Gold Member
- Thread starter
- #14
it was hyped by right wing radio clowns and now the BIG economic disastor they sold it on the backs of didnt happen.
oh poor minions
Not to worry though all the guys who sold it to YOU sold off at 1600 a couple of months back.
Enjoy your pretty shiney coins with ronny on one side and Palin on the other made of .00000000002 gold
It'll be down to around 1000 before its over.
DiamondDave
Army Vet
Silver has outperformed gold in actuality.. which is why I have a bunch of it and not gold
DiamondDave
Army Vet
it was hyped by right wing radio clowns and now the BIG economic disastor they sold it on the backs of didnt happen.
oh poor minions
Not to worry though all the guys who sold it to YOU sold off at 1600 a couple of months back.
Enjoy your pretty shiney coins with ronny on one side and Palin on the other made of .00000000002 gold
It'll be down to around 1000 before its over.
Lay a bet on that.. say, ever posting on this site again??
Truthmatters
Diamond Member
- May 10, 2007
- 80,182
- 2,272
- 1,283
- Banned
- #17
oh daves getting ready for a repete with silver.
what a good minion
what a good minion
Mad Scientist
Feels Good!
- Sep 15, 2008
- 24,196
- 5,431
- 270
You wanna' make an Avatar bet about that?it was hyped by right wing radio clowns and now the BIG economic disastor they sold it on the backs of didnt happen.
oh poor minions
Not to worry though all the guys who sold it to YOU sold off at 1600 a couple of months back.
Enjoy your pretty shiney coins with ronny on one side and Palin on the other made of .00000000002 gold
It'll be down to around 1000 before its over.
If Gold goes below $1000 in the next 3 months you choose my Avatar for a week. If not, then I chose yours.
DiamondDave
Army Vet
oh daves getting ready for a repete with silver.
what a good minion
Yeah.. considering I bought most of mine around $8 an oz.. I think I am just fine, twatwaffle
LordBrownTrout
Diamond Member
Looks more like a buying opportunity to me. BTW the DOW is also falling like a rock, down 260+.
GO ahead! Buy it! There were a lot of "buying opportunities" in fall of 1929. They only took 15 years or so to break even. Lot of "buying opportunities" on the downsides of the wild swings petroleum has had in the past few years - also a lot of opportunities to time it wrong and get fucked.
That's the thing about bubbles. Its not about whether you go long or short but whether or not you time them right. We all know they are going to burst - question is when.
I bought silver at 6 dollars and sold three years later at 49 dollars. Can't wait to do it again.
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