Gold dropping

otisptoadwater wrote: So seeing gold prices drop is perplexing but what is more perplexing to me is that platinum has been consistently worth less than gold for the last three months or more. Is now a good time to buy up platinum on the prospect that platinum will eventually be worth more than gold again? I have to wonder how much the price of gold is influenced by over demand.

Great point. I think the gold could be all a big bubble, especially when it is higher than platinum, a scarcer metal. I do like silver because it has more industrial uses.

Gold and Silver Moves Down; Investors Cautious Approach after Fitch’s Downgrade Warning

http://crwenewsalert.com/7055/commoditi ... um=twitter

Rating agency Fitch gave out warning that there is a possibility downgrading France along with six more euro-zone countries as according to Fitch politically and technically complete solution related to the financial crisis is not accessible.

SAN FRANCISCO (MarketWatch) -- Gold futures staged a comeback Wednesday, ending the day at a five-week high and extending their gains to a second session. Gold for February delivery ended $4.30 higher, or 0.3%, at $1,659.90 an ounce on the Comex division of the New York Mercantile Exchange

http://finance.yahoo.com/news/gold-back-five-week-high-190554199.html

I'm starting to wonder whether or not there's actually physical gold to back the GLD shares.

In theory - 10 shares of GLD = an ounce of real gold.

Is there really real gold, somewhere --- or is it just a shell game?

Gold's the next bubble to burst and is already grossly inflated by being tied to gold coinage with additional "historic" value that isn't really there.

Think you should've listened to Beck 5 years ago?...look deeper into the company paying him to sell the gold idea...then ask why he's being paid cash.

plaidvillain wrote: Gold's the next bubble to burst and is already grossly inflated by being tied to gold coinage with additional "historic" value that isn't really there.

Think you should've listened to Beck 5 years ago?...look deeper into the company paying him to sell the gold idea...then ask why he's being paid cash.

Since when is the whole gold market tied to gold coinage? Link?

No link but one of beck's advertisers gold line would try to convince customers with fear tactics that us gold coins and bullion would be confiscated like Fdr did, "but they wont be allowed to confiscate foreign gold coinage" so pay us a premium for rare euro gold coins.

FredHayek wrote: No link but one of beck's advertisers gold line would try to convince customers with fear tactics that us gold coins and bullion would be confiscated like Fdr did, "but they wont be allowed to confiscate foreign gold coinage" so pay us a premium for rare euro gold coins.

That still doesn't make the whole gold market tied to gold coins. Period. There is more than enough gold in bullion form. The amount of existing gold coinage, US and foreign, is no where near the total troy ounces of privately held bullion. Someone been feeding you bulls**t... and you've evidently believed it. This ain't Goldine's fault... it the customer for being so stupid.

FredHayek wrote: No link but one of beck's advertisers gold line would try to convince customers with fear tactics that us gold coins and bullion would be confiscated like Fdr did, "but they wont be allowed to confiscate foreign gold coinage" so pay us a premium for rare euro gold coins.

With months of Obama at the helm left I wouldn't be surprised if an executive order were issued to confiscating precious metals, gems, and anything else worth owning. Fire up the printing presses at the Treasury, we got 1.2 Trillion to print!

The Liberals GOP Twin wrote:

FredHayek wrote: No link but one of beck's advertisers gold line would try to convince customers with fear tactics that us gold coins and bullion would be confiscated like Fdr did, "but they wont be allowed to confiscate foreign gold coinage" so pay us a premium for rare euro gold coins.

That still doesn't make the whole gold market tied to gold coins. Period. There is more than enough gold in bullion form. The amount of existing gold coinage, US and foreign, is no where near the total troy ounces of privately held bullion. Someone been feeding you bulls**t... and you've evidently believed it. This ain't Goldine's fault... it the customer for being so stupid.

ahhh the good ole' mineral scare tactic. the boleo mine in baja (mexico) has vast amounts of cobalt and copper? maybe beck can run the scare bs down there in english.