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Gold futures fell nearly $28/oz. in their biggest one-day percentage loss since November...

Gold futures fell nearly $28/oz. in their biggest one-day percentage loss since November following the surprise early release of the FOMC Minutes and Goldman's cut of gold forecasts through 2014; a stronger dollar index also weighed. Goldman says gold could fall faster and larger than its forecast if ETF owners keep exiting, which is happening today: GLD -1.5%, IAU -1.5%, GDX -3.2%.
Comments (9)
  • mstrong1
    , contributor
    Comments (82) | Send Message
     
    WOW ! I hate buying stuff on sale only to see it marked down further. Nothing to do but buy more
    10 Apr 2013, 02:16 PM Reply Like
  • ferrotus
    , contributor
    Comments (3) | Send Message
     
    Goldman is probably holding out basket to catch all of the foolishly dumped GDX ETF's.
    10 Apr 2013, 03:38 PM Reply Like
  • dickrcm
    , contributor
    Comment (1) | Send Message
     
    I still like gold for the long run. I worry about our fiat dollar getting hammered by the fed's printing presses.
    I think in a past life I was King Midas.
    Or was it Goldfinger?
    10 Apr 2013, 03:38 PM Reply Like
  • Anne Bonney
    , contributor
    Comments (78) | Send Message
     
    Fiat money is good until it isn't. When the music stops, got a chair?
    10 Apr 2013, 04:12 PM Reply Like
  • Spyguy11
    , contributor
    Comments (4) | Send Message
     
    GLD can go to ZERO for all I care. PHYSICAL GOLD is all that matters, and all that will be left after the fiat paper burns.
    10 Apr 2013, 04:50 PM Reply Like
  • User 195396
    , contributor
    Comments (345) | Send Message
     
    I think Goldman and their muffets have a few paper short contracts to cover at some point-I'm unable to attach any credibility to their calls on the markets and commods-where is Abby Jo Cohen these days.
    10 Apr 2013, 04:51 PM Reply Like
  • ssf88
    , contributor
    Comments (6) | Send Message
     
    Gold in your hand will ALWAYS keep its value no matter what they say or do. It is handed from generation to generation building wealth.
    Did you ever wonder why Gold dealers and retailers are always very rich. And by the way, I 'm buying every month.
    10 Apr 2013, 04:52 PM Reply Like
  • George Bliss
    , contributor
    Comments (4) | Send Message
     
    Nothing which really pertains to the actual value of gold has changed. JPM is having another hay day with their price supression scheme. And I'm sure they made a lot of $$$ doing it, again. So, (for me) It's time to buy more physical!!! Time is on my side.
    10 Apr 2013, 04:52 PM Reply Like
  • turville
    , contributor
    Comments (67) | Send Message
     
    funny that all the posts on this subject are from people who are long of the stuff. technically gold has potentially quite a long way to go (down). of course if you are a long term holder who is in the business of averaging down your holding price then go for your life but be careful not to allocate the house to your position if you know what I mean. it still looks and feels good !!
    10 Apr 2013, 07:12 PM Reply Like
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