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Flash crash in gold? The yellow metal dives $20 in the space of a few trades, now -1.6% to...

Flash crash in gold? The yellow metal dives $20 in the space of a few trades, now -1.6% to $1,716/oz.
Comments (17)
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    Just the Chinese stealing the low hanging fruit..
    28 Nov 2012, 08:33 AM Reply Like
  • RikR
    , contributor
    Comments (2) | Send Message
     
    I watch the Kitco chart for gold. I like the three day display and it is convenient. I think it was Monday when a similar downward spike occurred. I even posted a link to it on my Facebook. A few minutes later I checked it again and it was gone and never reappeared.
    28 Nov 2012, 08:37 AM Reply Like
  • Rousseau SC
    , contributor
    Comments (284) | Send Message
     
    Since when has a few minutes mattered? This does not inform us of what the big money is really doing.
    28 Nov 2012, 08:41 AM Reply Like
  • DrB4u2
    , contributor
    Comment (1) | Send Message
     
    Its just shake down time again by the manipulators.
    28 Nov 2012, 08:43 AM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    Yes...you would think someone in the SEC say...would look to see who is doing these trades...and if it is the same person..company..count... they might bring that to the publicĀ“s attention...the more they allow this..the less faith the retail investor has in the "markets"...
    28 Nov 2012, 08:47 AM Reply Like
  • litlbit2
    , contributor
    Comments (2) | Send Message
     
    "Faith in markets", more to that than people realize. Watch the new tax proposals on the death tax, and read about Agenda 21.
    28 Nov 2012, 09:00 AM Reply Like
  • scoops12
    , contributor
    Comments (75) | Send Message
     
    The rats at JP Morgan having fun again, fer crying out loud.
    28 Nov 2012, 08:51 AM Reply Like
  • Tas 2010
    , contributor
    Comments (256) | Send Message
     
    Check our Harvery Organ's blog yesterday. He called this drop EXACTLY. How crazy is that?
    28 Nov 2012, 09:30 AM Reply Like
  • Rummeljordan
    , contributor
    Comments (477) | Send Message
     
    Anyone else watching the beta of GLD creep up?
    28 Nov 2012, 09:43 AM Reply Like
  • David Urban
    , contributor
    Comments (1036) | Send Message
     
    Thank you for allowing me to buy gold at a cheaper price.
    28 Nov 2012, 09:47 AM Reply Like
  • mstrong1
    , contributor
    Comments (82) | Send Message
     
    Yes, I'm watching the price closely and will buy another tube of 20 GAE's today, unless price keeps falling. Last tube was when spot was around 1675. IMHO ANYTHING below 1800 is good. I'm NOT a trader, I'm one of those worried about hyperinflation from commie money printers destroying my dollar and other paper savings. I'm a PHYSICAL metal, in MY HANDS guy.
    28 Nov 2012, 09:57 AM Reply Like
  • DrewR
    , contributor
    Comment (1) | Send Message
     
    No bounce back yet... Anyone besides conspiracy theorists know why this is happening?
    28 Nov 2012, 01:33 PM Reply Like
  • lilliott
    , contributor
    Comment (1) | Send Message
     
    Did gold pay a special dividend that went ex today?
    28 Nov 2012, 01:34 PM Reply Like
  • tr4head
    , contributor
    Comments (330) | Send Message
     
    The gold is sold ...

     

    by the alternative investors that don't want your capital to go to something they don't own. Its unpatriotic for Gods sake to think that the developed world markets are not the place to be. Just forget all that talk about printing money to pay for all the goodies, the can is still being kicked down the road but is starting to rust out to nothing and pretty soon can't be kicked around anymore.

     

    Talk amongst yourselves.
    28 Nov 2012, 03:51 PM Reply Like
  • peteraloha
    , contributor
    Comments (3) | Send Message
     
    Jim Wyckoff on the kitco.com site has a good article summarizing what he saw happening: Technical selling with stop loss orders being triggered. Sell orders over 7500 futures contracts further contributed to the drop (worth 100 ounces each). On CNBC I heard about that and a guy from the floor of the CME said he remains bullish on gold. - I am not a conspiracy theorist, and believe that there are simply a bunch of folks out there that "play" the markets, equities, commodities, you name it. They find ways to make prices move, and why would they skip opportunities in gold if they can make money off of the volatility? I am not one of them and keep getting cold feet. Especially my miners keep getting beat up before I can separate from them and look at reality: They up for PM's is not a straight one, but all the fundamentals for higher PM prices apparently are getting stronger and stronger.
    29 Nov 2012, 02:30 AM Reply Like
  • tr4head
    , contributor
    Comments (330) | Send Message
     
    I do in fact believe in conspiracy - you only have to look at the length the fed goes to assure that inflation does not appear, which is the rocket ship for Gold. They phoney the numbers so rates can stay low acc. to plan - if they can fake us out long enough to get the economy on some footing then all is well and they can report slow inflation growth. When they say "targeted" inflation, they mean it!

     

    BTW - its these same folks in the developed world economies that are grasping at straws as they drown in debt. They want your capital in THEIR equities, not Gold, not EMs.
    29 Nov 2012, 08:05 AM Reply Like
  • tr4head
    , contributor
    Comments (330) | Send Message
     
    Interesting all the hand wringing about the *massive* futures decline yesterday for GOLD. Did not happen, nada, zip. You can't fake out the market, it will find its price, don't listen to all the anti gold hype heard on this site and coming from WS. And THEY complain about the crazy Gold bugs!
    29 Nov 2012, 10:23 AM Reply Like
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