Warming up to the idea FOMC hawkishness may be getting ahead of itself, precious metals reverse...

Warming up to the idea FOMC hawkishness may be getting ahead of itself, precious metals reverse course. Gold's now up $26 from the overnight low, GLD +1%. SLV +0.7%. The dollar, however, continues to strengthen, UUP +0.3%.

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Comments (7)
  • bbro
    , contributor
    Comments (11216) | Send Message
    Or maybe GLD has been due for a bounce...
    21 Feb 2013, 10:32 AM Reply Like
  • Ben Bernankes friend
    , contributor
    Comments (475) | Send Message
    Remember, you can get a dead cat to bounce if you throw it hard enough too.
    21 Feb 2013, 10:40 AM Reply Like
  • William J Ruesewald JR
    , contributor
    Comments (31) | Send Message
    I wait for the day when a collection of traders move into the metal markets and send Morgan and Jamie Diamond into a fall THEY CAN CONTROL THE SHORT SIDE ONLY SO LONG---mark my words the day is coming!
    21 Feb 2013, 11:00 AM Reply Like
  • mggasman
    , contributor
    Comments (3) | Send Message
    If you take the time to read this link you will understand that the demise of the US and it's economy is assured. There is no fix to the problems we face. The math just does not work under any proposed scenario. The government is buying time. Gold and silver are by historical nature our only hope as individuals. Just remember that our government needs to convince you that everything is fine. That they can fix the problem if we cooperate. Hold your Gold. Be strong.
    21 Feb 2013, 11:44 AM Reply Like
  • Jhalgren
    , contributor
    Comments (253) | Send Message
    Excellent comments! I totally agree with your assessment. There's even more to the mix: Our 'government' is in collusion with billionaires worldwide who think they can control the planet. Their mistake, however, is not realizing the speed of our shrinking natural resources or, perhaps, their acknowledgment of it is driving them to madness so it seems these days. So a huge drop in gold also correlates with the huge drop in AAPL as these 'big guns' try to play their way into safe-haven positions if only temporary. The ride is wild beyond anyone's imagination.
    21 Feb 2013, 12:13 PM Reply Like
  • mggasman
    , contributor
    Comments (3) | Send Message
    Hold your gold....Hold your gold. I believe in the "feel good" conspiracy. I do not think there is a plan. In fact I think the government is so inept that a plan is beyond them. We are looking into the abyss. And yet no one sees. Let the chips fall as they will without my comments. I wish everyone well.
    21 Feb 2013, 02:05 PM Reply Like
  • mggasman
    , contributor
    Comments (3) | Send Message
    I know 2 congressmen and I can tell you they dont get it. I have tried and they get off on the Ron Paul thing and think we are all wacko. We can not continue down this path. There will come a day that no one wants to buy our bonds. I have 3 children and would like a good outcome for them. Unfortunately I am not encouraged at what I see.
    21 Feb 2013, 02:06 PM Reply Like
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