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Gold is Tanking


frank c

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Gold just hit $1217.00 that's the lowest its been in some time it seems to be taking a drive deeper than it has in the past 6 months or so.
It was breaking into the 1300's on and off but settled back into the 1200's and now looks like its Tanking on a downward trend.
There wasn't any great jump around September as it usually does because of India's weddings and all the gold they purchase around that time of the year,........????????????????
I don't like it.

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I suppose those in the stock market and war hawks are pushing it down. Silver's down ,too, into the 18 buck range.

To say there's going to be/is consolidation in the mining sector is an understatement, as the cost to mine can be greater than the return.

A couple of not so "hard and fast" rules:

Stock Market gets happy- commodities( some)tank, as they are a hedge against the "uncertain"

SAme thing when world tensions rise- but only if US projects strength.

Yes, it is a time to buy if you have disposable income...

..... :brows: but what will happen next year when GE comes out with their

MR FUSION power source/gold reactor- in go fishing weights- out comes gold. It will bankrupt all conventional Au mining plays.

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By tanking, do you mean $250 an oz? Be there, done that. Now all the gold that I found at that price is super inflated.

Over the past several months I have noticed that as the price of gas has very slowly come down, so has the price of gold. Just a thought.

Goldbug Ron

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I can not tell a lie. I single handedly put gold into a tail spin 9/10/2014 ($2048 oz). I bought 1/2 ounce and gold has been in tail spin ever since. The following day I read an article. This jack azz was predicting gold would go down to $700 an ounce...............................

Hope he's wrong.

whaaaaaaaaaaaaaaaaaaaaaaaaaaa!!!!!!!!!!!!!!!!!!

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Nothing is real anymore as markets manipulated by the ultra rich. Hurt me BAD as 1/3 of gold prices gone in a year so my backup against the dollar in deep doodoo. Seen worse,much worse but miss $1.900 much-Everything else in this world of insanity is in the crapper so why not this also :2mo5pow: John

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I'm staving off any issues by keeping all my gold in the ground. I'll just go dig it up when the market gets back up. :D

Thanks for my laugh today! :)

Tom

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Its still high....its all relative .....if you got gold..and you have not much time....sell and enjoy it....go on a vacation, buy a car, maybe a steak for dinner more often. But if you got more time....sit on it, and wait until it cycles again. It a usable resource, more out there.....fear sucks.... I was detecting when it was 280 per ounce and will continue..its a passion regardless.

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Will never stop as have gold from 1956 still and all my stash is marked as to who/what/when/cost to mine so still plenty of profit BUT sure like the sound of $2k much better :yesss: I'd never bury gold as that's how it was found in the first place and everyone and his brother now detecting so risky even in your own yard-John :old:

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