Seeking Alpha

Gold slides 1.1% amidst the World Gold Council reporting an 11% Y/Y decline in Q3 demand to 1.1K...

Gold slides 1.1% amidst the World Gold Council reporting an 11% Y/Y decline in Q3 demand to 1.1K metric tons. Central banks remained steady buyers, but investment demand - ETPs, bars, coins - was off 16% Y/Y. The WGC notes 2011 Q3 is a tough comparison, and demand remains well above the 5-year average of 984.7 metric tons.
From other sites
Comments (12)
  • jbassbia
    , contributor
    Comments (387) | Send Message
     
    Soros is still adding to his holdings - article http://bit.ly/S7CuxC Nov 15
    15 Nov 2012, 10:13 AM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    there is more in the data than the headline...but someone is tanking the market the last three days at exactly the same time..both gold and silver....HFT´s....???? China????
    15 Nov 2012, 10:27 AM Reply Like
  • divinecomedy
    , contributor
    Comments (466) | Send Message
     
    I am a gold bull, but gold will see 1000 before going to the moon. Again, what is to stop central banks from shorting the paper all the way to Timbuktu? If they win, they get to buy physical gold cheap. If they lose, they print money and do it again. Nice to have a printer in your backyard isn't it?
    15 Nov 2012, 11:12 AM Reply Like
  • David at Imperial Beach
    , contributor
    Comments (4361) | Send Message
     
    Divinecomedy, you make no sense. Stop drinking that "cold medicine" before you grace us with your comments.
    15 Nov 2012, 11:21 AM Reply Like
  • sikkabooyah
    , contributor
    Comments (473) | Send Message
     
    Yes, but it sounded so good when divine sed it. It's like Carla ("Cheers" waitress Rhea Pearlman) once said to a Brit: "You must be English, 'cause you sound to intelligent when you say stupid things".
    15 Nov 2012, 12:26 PM Reply Like
  • David at Imperial Beach
    , contributor
    Comments (4361) | Send Message
     
    Apparently the Fed has announced a QE++ plan and then fallen short on the implementation. We simply should not be seeing this much market weakness if new money was flooding in from their interventions. Today practically everything is down, including the dollar. This tells me we are experiencing deflation, which in turn tells me that the Fed is not doing its job as per its last announcement. I just pulled the plug on the last of my investments. If I do anything for the rest of the year, it will be to take short positions.
    15 Nov 2012, 11:29 AM Reply Like
  • Rummeljordan
    , contributor
    Comments (477) | Send Message
     
    Gold didn't respond to QE3 like all the bugs hoped.

     

    News flash people, gold is not immune to market forces like everyone thinks it is! It has gone from a safety trade to one of the most popular trades people like to make today thanks to GLD.

     

    When the market sells, gold sells. Its beta to the S&P has been creeping up.
    15 Nov 2012, 12:14 PM Reply Like
  • FrankJFattizzi
    , contributor
    Comments (547) | Send Message
     
    "when the market sells, paper gold sells"

     

    fixed it for you.
    15 Nov 2012, 03:37 PM Reply Like
  • Rummeljordan
    , contributor
    Comments (477) | Send Message
     
    Better check your facts partner. That paper has been up amid all this recent mess.
    15 Nov 2012, 04:53 PM Reply Like
  • GoldBoy
    , contributor
    Comments (11) | Send Message
     
    this news is a suspicious fake news .... why did they announce this just 1 hour after the new jobless data for USA this week ......
    15 Nov 2012, 01:10 PM Reply Like
  • mcostigane
    , contributor
    Comments (44) | Send Message
     
    a select few hedge funds have concentrated short positions in the mining shares which has caused the recent downward behaviour....all intended to shake weak hands.....don't let them fool you
    15 Nov 2012, 03:54 PM Reply Like
  • MSGOLD
    , contributor
    Comment (1) | Send Message
     
    Please remember that a great deal of the selling in the U.S. is being influenced by the anticipated Long Term Capital Gains tax increase in 2013, from 15% to 20%. I would anticipate that this selling will continue for the remainder of the year.
    15 Nov 2012, 05:13 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs