Watching the metals crash today

[madfranks]

This morning when I checked last, gold was up, but now everything's looking rather bloody on the screen. Gold down $40, silver down a buck and a half, everything else down too. Is this because of Obama's recently announced tax hike proposal? ???

[keehah]

Seasonally speaking, this is the week to buy before its up up and away..

[gunDriller]

gold was $1600 at the beginning of August.

gold's August 2011 run was like Silver's April 2011 run, not quite the same percentage wise but still parabolic.


so, re-tracing 50% of that move, back to $1750 - not a big deal.

the odd thing is, what spooked people at the beginning of August was the debt ceiling stalemate & the downgrade of US debt.

it's not like anything has been fixed since then.

[Shami-Amourae]

I bought the dip yesterday. Hopefully that really was the dip.

[osoab]

This morning when I checked last, gold was up, but now everything's looking rather bloody on the screen. Gold down $40, silver down a buck and a half, everything else down too. Is this because of Obama's recently announced tax hike proposal? ???


It is called a SALE.

You should thank the PPT for it. ;D

[bl96S5eu]

For future reference what % of drop constitutes a crash?

[Dogman]

For future reference what % of drop constitutes a crash? That depends on how long you have been on the roller coaster holding metals.

For newbies, probably a few bucks, for old timers up to $100 or so, and that depends on many factors.

Edit: It also depends on which metal.

[osoab]

That depends on how long you have been on the roller coaster holding metals.

For newbies, probably a few bucks, for old timers up to $100 or so, and that depends on many factors.

Edit: It also depends on which metal.


I would take a 100 dollar drop on Ag at these prices.

[Dogman]

I would take a 100 dollar drop on Ag at these prices. ;D Yea I know, I know!

Should have thought that one out some more! ;)

Edit: Was posting more for intent of what would make pm holders panic and not literally!

Not sure if that made sense??