WTF just happened to Gold and Silver?

[Ares]

It was down 2-3 FRN's for the most of the day today.

Now it's down 18 FRN's

[Libertytree]

RP mentioned gold as in comparison to the 1980 dollar and inflation, I reckon the PTB saw it as a good time to smack it around?

[EE_]

The economy has recovered. Everyone will be going back to work soon!
No need for further stimulas!
Wall Street is very happy for the recovery!

[Plastic]

Looks like gold and silver got Blythed.....

[Dogman]

It was down 2-3 FRN's for the most of the day today.

Now it's down 18 FRN's According to ximmy it is this thread! ;D


http://gold-silver.us/forum/showthread.php?51950-Black-guy-fights-off-3-white-attackers&p=435241&viewfull=1#post435241

[osoab]

Debt "deal" I suppose.

Smackdown also hit all the grains. They were screaming this morning.

[Ares]

Most likely because of the Senate reaching a consensus to screw us even more is my guess.

[Twisted Titan]

when a good item is on sale you shut the eff up and buy with both hands.

[Ares]

when a good item is on sale you shut the eff up and buy with both hands.

If I had any dry powder I would. That's why I'm mad. LOL

[Serpo]

Gold to Correct After Front Page Financial Times Article? Gold in 2011 V’s the 1970’s and 1979


http://news.goldseek.com/GoldSeek/1311080400.php

[gunDriller]

Most likely because of the Senate reaching a consensus to screw us even more is my guess.

i was very curious about the price action myself.

looked at the bigger 'news' that came out at 1:30 PM Eastern.

which is, like people said, about the sort-of-debt-deal.

the US $ is saved because Obama had a press conference ? (his press conference was at 1:30 PM Eastern.)


i think mainly this "Gang of 6" announcement, about Senators reaching some sort of agreement.

reduction in uncertainty is dollar positive.

[Hatha Sunahara]

The price will go back up and go higher, maybe much higher fairly soon. Raising the debt limit will bring news of QE3, and hyperinflation fears will drive people to buy more gold and silver. What is important here is how long this 'beat down' by TPTB will last. I'll give it a week, and we'll be back up, way over 1600 again.


Hatha

[Spectrism]

Gold hit the top of its channel. It could drop as low as 1443... depending on how quickly it drops, or just have a minor pullback.

Silver will have to pull back short term, but once they print FRNs in panic mode, it will jump over $100.

How is it that the miners are mostly around their mid 2009 range... and just sitting there? With PMs doubled, the miners should have quadrupled.

[Joe King]

As fast as it shot up over the past few days, it needs to take a breather.

I'd prefer slow steady gains that build support then to have it shoot up just to fall back further. After the big run-up earlier this year, I've been hoping for some sideways action in it.

[Neuro]

Gold hit the top of its channel. It could drop as low as 1443... depending on how quickly it drops, or just have a minor pullback.

Silver will have to pull back short term, but once they print FRNs in panic mode, it will jump over $100.

Exactly, with the raising of the debt ceiling, lots of liquidity will be pulled from the market. Certainly QE3 will come in ond shape or another, but first a great market plunge. Yes we will probably see 100 silver soon, but first a big plunge, sub 25 is my bet!

[osoab]

Exactly, with the raising of the debt ceiling, lots of liquidity will be pulled from the market. Certainly QE3 will come in ond shape or another, but first a great market plunge. Yes we will probably see 100 silver soon, but first a big plunge, sub 25 is my bet!

Not below 32 imho.

[madfranks]

$1600 to me seemed like a big barrier, I wouldn't be surprised if there was some significant profit taking going on at this number. Don't forget, most people are investing in PMs just so they can get more dollars.

[sirgonzo420]

$1600 to me seemed like a big barrier, I wouldn't be surprised if there was some significant profit taking going on at this number. Don't forget, most people are investing in PMs just so they can get more dollars.


That's EXACTLY why I collect metals; to get *dollars*


;D


http://www.coinlink.com/News/images/1866_gold_dollar_ms68_bm.jpg

http://www.pmbg.net/media/Morgan-Silver-Dollar-Back1.jpg






Perhaps you meant FRNs?

;D

[madfranks]

^^^ Yes, I did mean FRNs, silly me.

[osoab]

Not seeing the volume on the SI contracts like we did in May.

[EE_]

http://www.youtube.com/watch?v=ek_D-5XwVrU&feature=player_embedded

[Serpo]

The metals where crashed after market when trading was thin........just another takedown........