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Precious metals continue lower in volatile trade this evening, gold (GLD) off another 1.3% to...

Precious metals continue lower in volatile trade this evening, gold (GLD) off another 1.3% to $1,343/oz., and silver (SLV) tacking on another 3.3% in losses to $22.57. WTI crude oil slides 2.4% to $86.60/barrel. Stock index futures, however, show signs of a rebound, the S&P 500 (SPY) +0.3% and Nasdaq 100 (QQQ) +0.5%.
Comments (12)
  • razorback501
    , contributor
    Comments (4) | Send Message
     
    WWWBD? What Would Warren Buffet Do? "When others are greedy be fearful, When others are fearful be GREEDY!" The only real universal currency is in fact limited natural resources, this cycle of extending limitations of currency only leads to demise.....6k years cycles of currencies to fix the issue... cut down every tree to print bills.....At some point the inflationary curve will point its head north, as there is no real change in government to make the real heart breaking detachment needed of spending and supporting to much free loading weight of society. The infamous President in todays society only gets elected if he says "If you want more free shit just vote for me....I love ya" .... The world is crazy, be smart and prepared...
    15 Apr 2013, 11:30 PM Reply Like
  • John Jeckle
    , contributor
    Comments (21) | Send Message
     
    "Buffet" has repeatedly said he thinks gold is a stupid investment.
    15 Apr 2013, 11:42 PM Reply Like
  • Mercury Value
    , contributor
    Comments (565) | Send Message
     
    He also bought nearly 130,000,000 ounces of silver some years back...
    15 Apr 2013, 11:47 PM Reply Like
  • Jack Wildcat
    , contributor
    Comments (164) | Send Message
     
    Buffet has bailed on stocks shedding 21% of his holdings lately and exiting bank stocks...
    16 Apr 2013, 12:56 AM Reply Like
  • John Jeckle
    , contributor
    Comments (21) | Send Message
     
    For the love of God man, there's two Ts in his name.
    16 Apr 2013, 12:39 PM Reply Like
  • sullygks
    , contributor
    Comment (1) | Send Message
     
    agreed razorback....buy on dips and sell into rallys
    15 Apr 2013, 11:48 PM Reply Like
  • tomlos
    , contributor
    Comments (1107) | Send Message
     
    not a bad time to buy on a dip huh
    16 Apr 2013, 12:24 AM Reply Like
  • Retired User
    , contributor
    Comments (1803) | Send Message
     
    My broker called, told me we bought GLD at 130 today, intraday low.
    16 Apr 2013, 12:34 AM Reply Like
  • Brian Bobbitt
    , contributor
    Comments (1899) | Send Message
     
    not so fast, PM's recovering a little, 23.10 and 1362 I say buy NOW, get the bottom, it is too close to call
    thing not right in world
    16 Apr 2013, 01:31 AM Reply Like
  • Retired User
    , contributor
    Comments (1803) | Send Message
     
    Dave Fry, who I really like and respect, commented today that the sell-off in gold and silver is like the 1980 crash in commodities. I disagree with that idea. In 1980 investors dumped PMs because the Fed discount rate was 12% and real return on bonds went through the roof. Large 6-month CDs paid over 10%. Ain't happening today. I suspect there was a cascade of margin calls triggered by shorts as Chris Martensen suggested. Selling was correlated across the board hitting equities. Can't have that, can we? I expect a wave of QE by all central banks to lift gold again.
    16 Apr 2013, 02:20 AM Reply Like
  • uncensored patriot
    , contributor
    Comments (61) | Send Message
     
    Alan,
    That seems like good reasoning. A few facts outside of context or simply looking at charts can be misleading.
    16 Apr 2013, 05:56 AM Reply Like
  • Interesting Times
    , contributor
    Comments (10392) | Send Message
     
    Look at the bright side. Gas should be $2 bucks before we know it!!

     

    ( sarcasm off )
    16 Apr 2013, 02:01 AM Reply Like
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