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#7834145 - 06/20/13 Re: Are We About to See a Global Gold Selling Spree? [Re: The_Real_Hawkeye]
Steve_NO Offline
Campfire Oracle

Registered: 05/16/03
Posts: 48396
Loc: New Orleans
You just keep telling yourself that, Hawk
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#7834496 - 06/20/13 Re: Are We About to See a Global Gold Selling Spree? [Re: Steve_NO]
byc Offline
Campfire Oracle

Registered: 04/26/09
Posts: 26031
Loc: VA 2 SC
I have a gold tooth. Wonder how long I should hold onto that?
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#7834515 - 06/20/13 Re: Are We About to See a Global Gold Selling Spree? [Re: Penguin]
MacLorry Offline
Campfire Guide

Registered: 06/25/10
Posts: 3207
Loc: polar orbit
Wow, gold is now down to $1,276. Your analysis is as good as anyone else's that I've seen. I sold off last week and will likely stay out of the market until the Fed decides what it's going to do. Problems is that given their dual mandate the Fed can't predict what the Fed will do.

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#7834534 - 06/20/13 Re: Are We About to See a Global Gold Selling Spree? [Re: The_Real_Hawkeye]
MacLorry Offline
Campfire Guide

Registered: 06/25/10
Posts: 3207
Loc: polar orbit
Originally Posted By: The Real Hawkeye
It would be nice to be able to buy it at bargain basement prices. It's folks like yourself that create conditions for these sell-offs, for which I'm grateful.


You're welcome.

Originally Posted By: The Real Hawkeye
Market reality, however, will ultimately not be cheated. You can't continue to double and triple the fiat currency supply without the long-term price of real commodities rising, particularly a commodity like gold.


If by long term you mean more than 10 years the economy will adjust without too much disruption. Consider the inflation of the 70's and early 80's as an example.

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#7834541 - 06/20/13 Re: Are We About to See a Global Gold Selling Spree? [Re: MacLorry]
JBGQUICK Offline
Campfire Ranger

Registered: 12/16/10
Posts: 2037
Most likely just the rebound from the overpurchasing that drove up the value to its highs.

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#7834579 - 06/20/13 Re: Are We About to See a Global Gold Selling Spree? [Re: JBGQUICK]
isaac Offline
Campfire Oracle

Registered: 07/15/06
Posts: 57306
Loc: Northern Virginia
For as long as the government keeps printing money, we'll have these back and forth discussions. It'll be two years before we can really have a handle on which way things will go. In the meanwhile, everything will be up and down prompting further guessing as to who's on the mark.

In the meanwhile, secure and protect whatever your investment vehicle might be. Those that do will be on the mark.

I thank the financial Gods I bought real estate in this area. I wish my clients could pay in cash.
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The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.
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#7834689 - 06/20/13 Re: Are We About to See a Global Gold Selling Spree? [Re: MacLorry]
Bristoe Offline
Campfire Oracle

Registered: 10/13/05
Posts: 39174
Loc: The Bluegrass
Originally Posted By: MacLorry
The Fed scared Wall Street into panic selling, but why is gold down to $1290 as of 1:00 PM eastern time?


The decoupling has yet to occur.
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The consolidation of the states into one vast republic, sure to be aggressive abroad and despotic at home, will be the certain precursor of that ruin which has overwhelmed all those that have preceded it.

-Robert E. Lee

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#7836041 - 06/21/13 Re: Are We About to See a Global Gold Selling Spree? [Re: MacLorry]
Penguin Offline
Campfire Tracker

Registered: 04/06/06
Posts: 5587
Loc: The great midwest
Originally Posted By: MacLorry
Wow, gold is now down to $1,276. Your analysis is as good as anyone else's that I've seen...


Yeah when it comes to explaining what has already happened in the market it seems like all of us can come up with something. Ask us to predict next week and we all suck equally. smile

Gold had its run. I think it will have another one though it may be a while coming. But it is so responsive to politics and the central bank that predicting how it will move long term means predicting how the political system and the Federal Reserve are going to behave long term... not easy to do!

One thing I believe would be good for all of us who are investing for retirement/future is to take this as a great opportunity to examine who we listen to and what their track record is. There are a TON of people who bought into the gold rally late and/or also completely missed the rally in the stock market. And there are a ton more who are sitting around waiting for a hyperinflationary event that just ain't in the cards (I'm looking at you Peter Schiff!).

After a while being early is just plain being wrong. There need to be consequences for those who misguide you just like there are consequences to your portfolio for listening to them. Just a thought.

Will
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