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Gold continues to party as the weak Chinese PMIĀ print overnight combines with yesterday's...
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Thursday, August 23, 2012, 7:10 AM ETGold continues to party as the weak Chinese PMI print overnight combines with yesterday's FOMC minutes to give rise to the idea of a lot more fiat paper chasing the same level of goods. The yellow metal (along with silver) has clearly broken through key technical levels as well. GLD +0.5%, SLV +1.6% premarket.
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This news story has 5 comments:
the market and put the real gold into a downward spiral, again.
So far, I just see games out there, which Wallstreet loves to play.
They are slowly coming to the realization that the system is broken and cannot be fixed (at least, it can't be fixed by the same people that created the problem in the first place). They ignore the flim-flam in the news media, they buy when there's a drop but continue to hold if the price goes up.
on world easing/currency debasement
our 2950 shares of (NUGT) up 39% in 3 weeks.
Better than a sharp stick in the eye.