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#7640743 - 04/11/13 Are We About to See a Global Gold Selling Spree?
MacLorry Offline
Campfire Guide

Registered: 06/25/10
Posts: 3221
Loc: polar orbit
Fox News: Are We About to See a Global Gold Selling Spree?

If the price goes down a few hundred bucks per ounce then I hope the Fed creates some more money out of thin air to buy gold. That will keep the price up, and if there's a finical crisis in the future they can sell the gold then. Interesting how the Fed can seemingly create gold out of thin air. Of course, central banks have been doing that for a long time.

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#7640868 - 04/11/13 Re: Are We About to See a Global Gold Selling Spree? [Re: MacLorry]
OrangeOkie Offline
Campfire Outfitter

Registered: 01/04/09
Posts: 7600
Loc: Oklahoma
Should you trust a man whose "eyebrows" are actually a single "eyebrow?"

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No man is so foolish as to desire war more than peace: for in peace sons bury their fathers, but in war fathers bury their sons. - Herodotus


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#7640915 - 04/11/13 Re: Are We About to See a Global Gold Selling Spree? [Re: OrangeOkie]
EthanEdwards Offline
Campfire Oracle

Registered: 11/05/05
Posts: 34713
Originally Posted By: OrangeOkie
Should you trust a man whose "eyebrows" are actually a single "eyebrow?"

Unibrow. Dude needs to sell some gold and get some laser treatments. Probably gots a forest on his back!
_________________________
Tell those protesters to kiss my ass.

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#7641697 - 04/11/13 Re: Are We About to See a Global Gold Selling Spree? [Re: OrangeOkie]
MacLorry Offline
Campfire Guide

Registered: 06/25/10
Posts: 3221
Loc: polar orbit
What, you never saw a central banker before? If they were good looking they would be in sales or on TV. smirk

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#7644025 - 04/12/13 Re: Are We About to See a Global Gold Selling Spree? [Re: MacLorry]
MacLorry Offline
Campfire Guide

Registered: 06/25/10
Posts: 3221
Loc: polar orbit
Gold has dropped over $65 an ounce and is under $1,500 as of 11:30 am eastern time today. Maybe the article I posted yesterday is valid, or maybe the article itself is causing the selloff.


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#7644041 - 04/12/13 Re: Are We About to See a Global Gold Selling Spree? [Re: MacLorry]
eyeball Offline
Campfire Oracle

Registered: 03/23/11
Posts: 33803
Mac, How long do you think this market can continue its run?
_________________________

The tree of liberty must be refreshed from time to time by the blood of patriots and tyrants.

If being stupid allows me to believe in Him, I'd wish to be a retard. Eisenhower and G Washington should be good company.

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#7644099 - 04/12/13 Re: Are We About to See a Global Gold Selling Spree? [Re: eyeball]
MacLorry Offline
Campfire Guide

Registered: 06/25/10
Posts: 3221
Loc: polar orbit
I was watching Fox business and a while ago they were saying the best historical indicator is that the market has a long ways to go yet. Of course, if I believed that 100% I would sell off all my other investments and buy stocks. Not going to do that, but I have invested more in stocks just in case the market goes way up.

It could be that investors (not doomsday preppers) see stocks going up for a while yet and they are selling off gold to take advantage of the trend. If so, then gold could be headed down and if we get into panic selling it could go under $1,000 an ounce. Fear works both ways and it's a more powerful motivator than greed.

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#7644125 - 04/12/13 Re: Are We About to See a Global Gold Selling Spree? [Re: MacLorry]
tomk Offline
Campfire Guide

Registered: 03/16/04
Posts: 4147
Loc: Michigan
curious which central banks are buying...particularly if Cyprus is selling...

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#7644160 - 04/12/13 Re: Are We About to See a Global Gold Selling Spree? [Re: tomk]
Steve Offline
Campfire Outfitter

Registered: 05/31/01
Posts: 8492
Loc: Hillsboro, Or-Y-Gun (Oregon), ...
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#7644180 - 04/12/13 Re: Are We About to See a Global Gold Selling Spree? [Re: Steve]
tomk Offline
Campfire Guide

Registered: 03/16/04
Posts: 4147
Loc: Michigan
grinning...of course--Goldman!

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#7644251 - 04/12/13 Re: Are We About to See a Global Gold Selling Spree? [Re: tomk]
walt501 Offline
Campfire Regular

Registered: 12/20/10
Posts: 982
Loc: Minnesota
My personal opinion is that our Federal Reserve is nearing the end of their easy money, low interest rate policies of the past few years. Sometime over the course of the next 12 months I believe we will see interest rates start to rise. Since gold pays no interest or dividends, I think it will have a difficult time competing with rising rates. Could the sell off in gold now be a precursor to rising rates? I believe so, as any investment market is a discounting mechanism for future events.
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#7644648 - 04/12/13 Re: Are We About to See a Global Gold Selling Spree? [Re: walt501]
Steve Offline
Campfire Outfitter

Registered: 05/31/01
Posts: 8492
Loc: Hillsboro, Or-Y-Gun (Oregon), ...
Gold bugs selling off to become BitCoin bugs.

wink
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#7652481 - 04/15/13 Re: Are We About to See a Global Gold Selling Spree? [Re: MacLorry]
MacLorry Offline
Campfire Guide

Registered: 06/25/10
Posts: 3221
Loc: polar orbit
Today the bottom dropped out of the gold price triggering even more selling. If we get a panic going there's a long way yet to fall.

It's a bad time if you are a short term gold investor, but a good time to get in after we see where the bottom is.


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#7652497 - 04/15/13 Re: Are We About to See a Global Gold Selling Spree? [Re: MacLorry]
Esox357 Offline
Campfire Tracker

Registered: 06/16/01
Posts: 5202
Loc: Ohio
I will be buying if it does drop low! Need to enter the market sometime and expand.

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#7652507 - 04/15/13 Re: Are We About to See a Global Gold Selling Spree? [Re: MacLorry]
2legit2quit Offline
Campfire 'Bwana

Registered: 04/19/10
Posts: 14527
Loc: cold & forbidden
yep I'm watching to see with great curiosity where the bottom is

I think a lot of it depends on what Russia, China and India do.


but I'd been told to expect great volatility ($100 moves in a single day) in the days to come and I believe we're seeing that now. grin

there's blood in the streets, ain't it something?
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I'm pretty certain when we sing our anthem and mention the land of the free, the original intent didn't mean cell phones, food stamps and birth control.

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#7652577 - 04/15/13 Re: Are We About to See a Global Gold Selling Spree? [Re: 2legit2quit]
Calvin Offline
Campfire Kahuna

Registered: 09/25/03
Posts: 15143
Loc: AK
bottom? I don't think we'll see a bottom for a long time. If you buy now, you could be holding 20 years before you break even. It's shiny metal..
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#7652607 - 04/15/13 Re: Are We About to See a Global Gold Selling Spree? [Re: Calvin]
eyeball Offline
Campfire Oracle

Registered: 03/23/11
Posts: 33803
Yea, but shiny metal or green ass wipe - take your pick.
_________________________

The tree of liberty must be refreshed from time to time by the blood of patriots and tyrants.

If being stupid allows me to believe in Him, I'd wish to be a retard. Eisenhower and G Washington should be good company.

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#7652609 - 04/15/13 Re: Are We About to See a Global Gold Selling Spree? [Re: Esox357]
eyeball Offline
Campfire Oracle

Registered: 03/23/11
Posts: 33803
Originally Posted By: Esox357
I will be buying if it does drop low! Need to enter the market sometime and expand.
So what's low?
_________________________

The tree of liberty must be refreshed from time to time by the blood of patriots and tyrants.

If being stupid allows me to believe in Him, I'd wish to be a retard. Eisenhower and G Washington should be good company.

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#7652626 - 04/15/13 Re: Are We About to See a Global Gold Selling Spree? [Re: eyeball]
Steve Offline
Campfire Outfitter

Registered: 05/31/01
Posts: 8492
Loc: Hillsboro, Or-Y-Gun (Oregon), ...
Originally Posted By: eyeball
So what's low?


There's the rub.

I think I'll ask TRH.
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#7652636 - 04/15/13 Re: Are We About to See a Global Gold Selling Spree? [Re: MacLorry]
The_Real_Hawkeye Offline
Campfire Oracle

Registered: 06/12/02
Posts: 70838
Loc: Northern Florida
Originally Posted By: MacLorry
Fox News: Are We About to See a Global Gold Selling Spree?

If the price goes down a few hundred bucks per ounce then I hope the Fed creates some more money out of thin air to buy gold. That will keep the price up, and if there's a finical crisis in the future they can sell the gold then. Interesting how the Fed can seemingly create gold out of thin air. Of course, central banks have been doing that for a long time.
Who wants it to go up? This was engineered because the central banks wanted to add more gold to their inventories at fire sale prices before the dollar collapses. The smart folks are taking advantage. It won't last long.
_________________________
"The Federal Reserve is one of the most corrupt institutions the world has ever known. It has impoverished the people of the United States through the corrupt practices of the moneyed vultures who control it." -- Congressman McFadden, 1932

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#7652643 - 04/15/13 Re: Are We About to See a Global Gold Selling Spree? [Re: The_Real_Hawkeye]
Steve Offline
Campfire Outfitter

Registered: 05/31/01
Posts: 8492
Loc: Hillsboro, Or-Y-Gun (Oregon), ...
Right on queue.
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#7652651 - 04/15/13 Re: Are We About to See a Global Gold Selling Spree? [Re: Steve]
The_Real_Hawkeye Offline
Campfire Oracle

Registered: 06/12/02
Posts: 70838
Loc: Northern Florida
Originally Posted By: Steve
Right on queue.
I do my best. wink
_________________________
"The Federal Reserve is one of the most corrupt institutions the world has ever known. It has impoverished the people of the United States through the corrupt practices of the moneyed vultures who control it." -- Congressman McFadden, 1932

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#7652683 - 04/15/13 Re: Are We About to See a Global Gold Selling Spree? [Re: MacLorry]
ConradCA Offline
Campfire Outfitter

Registered: 01/31/02
Posts: 7601
Loc: Los Gatos CA, USA
This is misleading. 65/1500 is almost nothing. Call me back when it drops 20 percent.
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The political scale is fascists on the left and individual freedom on the right.

"It takes a village".....to torture a young girl and her family.


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#7652697 - 04/15/13 Re: Are We About to See a Global Gold Selling Spree? [Re: eyeball]
Calvin Offline
Campfire Kahuna

Registered: 09/25/03
Posts: 15143
Loc: AK
Originally Posted By: eyeball
Yea, but shiny metal or green ass wipe - take your pick.


rather silly to think that you have just 2 choices.

Shiny metal is just that.. shiny metal. As much as the gold bugs want it to be more.. they are left with shiny metal. There is no guarantee that people will barter for shiny metal. Food, medical supplies, skills, protection.. people will all barter for those.
_________________________
DIY, Fair Chase, Public Land Hunter

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