GOooooooooLD!!!!!

[ChesusRice]

Gold prices stared a brief but heart-stopping fall this morning, diving below the frightening $1,200 per ounce mark, on the aftermath of the US Federal Reserve’s decision to start tapering asset purchases under its economic stimulus program.
February deliveries were down 2.4% to $1,205.20 an ounce by 7:59 a.m. ET after plunging as much as 3% to $1,198 an ounce, the lowest price in almost six months.
This way the precious metal is heading for the first annual plunge in 13 years, as investors lost faith in the metal. Prices dove 37% since reaching a record-high of $1,923.70 an ounce in September 2011..

 

[schuylaar]

Gold prices stared a brief but heart-stopping fall this morning, diving below the frightening $1,200 per ounce mark, on the aftermath of the US Federal Reserve’s decision to start tapering asset purchases under its economic stimulus program.
February deliveries were down 2.4% to $1,205.20 an ounce by 7:59 a.m. ET after plunging as much as 3% to $1,198 an ounce, the lowest price in almost six months.
This way the precious metal is heading for the first annual plunge in 13 years, as investors lost faith in the metal. Prices dove 37% since reaching a record-high of $1,923.70 an ounce in September 2011..

but what about bitcoin?

 

[heckler73]

but what about bitcoin?

Wasn't someone on here recently touting how "rich" they were from Bitcoin?

http://www.forbes.com/sites/jessecolombo/2013/12/19/bitcoin-may-be-following-this-classic-bubble-stages-chart/

It's worse than a penny stock pump'n'dump on the TSX Venture exchange or the "pinks" in the OTC market.

 

[BigNBushy]

I bought a bunch of bit coins for silk road when they were under 10 bucks. Didn't go to sink road for a while, or look at bitcoin values and a year later went back. That ounce of heroin I got was the best capital gain I had ever had.

 

[heckler73]

I bought a bunch of bit coins for silk road when they were under 10 bucks. Didn't go to sink road for a while, or look at bitcoin values and a year later went back. That ounce of heroin I got was the best capital gain I had ever had.

Well then, good gain if you can realize it. Have you cashed out yet? Even a 70-bagger is still a 70-bagger.
In stocks, most people are doing cartwheels if they get a 10-bagger.
I don't know how familiar you are with trading, but a general rule of thumb is cash out 50% of holdings once one has a double, and let the profits ride (if you're into the gamble).
Good luck, trader

 

[Harrekin]

Gold prices stared a brief but heart-stopping fall this morning, diving below the frightening $1,200 per ounce mark, on the aftermath of the US Federal Reserve’s decision to start tapering asset purchases under its economic stimulus program.
February deliveries were down 2.4% to $1,205.20 an ounce by 7:59 a.m. ET after plunging as much as 3% to $1,198 an ounce, the lowest price in almost six months.
This way the precious metal is heading for the first annual plunge in 13 years, as investors lost faith in the metal. Prices dove 37% since reaching a record-high of $1,923.70 an ounce in September 2011..

You'd say that if you didn't see the HUGE stock market bubble forming, that's why PM's have dropped, there's too much easy, quick cash to be gotten riding that overbloated whale.

Then it'll crash and investors will start panic buying metals, which Iv bought cheap when they dumped all theirs.

No wonder you can't afford to paint your house...

 

[ChesusRice]

You'd say that if you didn't see the HUGE stock market bubble forming, that's why PM's have dropped, there's too much easy, quick cash to be gotten riding that overbloated whale.

Then it'll crash and investors will start panic buying metals, which Iv bought cheap when they dumped all theirs.

No wonder you can't afford to paint your house...

Lol
What a twit
Ive painted my house(last year), built a garage a fence and bought a 2013 harley this year

All cash

 

[ASMALLVOICE]

Lol
What a twit
Ive painted my house(last year), built a garage a fence and bought a 2013 harley this year

All cash

Would you like a medal or the chest to pin it on?

Peace

Asmallvoice

 

[Balzac89]

Potential time to invest in Gold. $1,200 is the near average cost to produce one ounce of Gold.

What can you buy nowadays at cost?

The best reasoning is many mining projects are unfeasible at 1200 dollars and any lower production will be affected.

 

[ChesusRice]

Potential time to invest in Gold. $1,200 is the near average cost to produce one ounce of Gold.

What can you buy nowadays at cost?

The best reasoning is many mining projects are unfeasible at 1200 dollars and any lower production will be affected.

Gold has as much value as bit coin.

 

[Balzac89]

Gold has as much value as bit coin.

Tell the Chinese that

 

[NLXSK1]

Gold has as much value as bit coin.

In a world without power, how much can a bit coin buy?

 

[Wavels]

Gold has intrinsic value, the value of which is cyclical.
Gold has demonstrated its ability to be used as a valuable hedge in a diversified portfolio.
Too many gold bugs put all of their eggs in one basket.
Big mistake.

 

[NoDrama]

Dumb Chinese, don't they know that gold has no value. It will soon be $20 an ounce again.

The same with the Central banks in the world, they are the main purchasers of Gold in the world by a wide margin, Aren't they aware that gold has no value?

And Silver? Oh man that is for sure going to go to $1 or less, I mean silver has no value either and can't be used for anything really.
I'M glad Cheezus has set us all straight on this.

I hope none of you bought gold at $1190, its at $1255 now, a sure sign of huge losses to come on a valueless commodity that isn't really even traded much any more.

 

[tokeprep]

You'd say that if you didn't see the HUGE stock market bubble forming, that's why PM's have dropped, there's too much easy, quick cash to be gotten riding that overbloated whale.

Then it'll crash and investors will start panic buying metals, which Iv bought cheap when they dumped all theirs.

No wonder you can't afford to paint your house...

What's your basis for saying there's a stock market bubble? Valuations right now are historically reasonable, not irrationally exuberant.

The bubble was in precious metals and commodities generally, which were overvalued based on irrational fears about credit markets and overly optimistic projections of future consumption.

 

[see4]

In a world without power, how much can a bit coin buy?

Hahahahahahahaha... aaahhahahahahaha... ahahahahahahahahaha. haah. ahahaha. heh.

No.

 

[tokeprep]

Dumb Chinese, don't they know that gold has no value. It will soon be $20 an ounce again.

The same with the Central banks in the world, they are the main purchasers of Gold in the world by a wide margin, Aren't they aware that gold has no value?

Central banks are certainly not "the main purchasers of gold." Central bank purchases account for about 10% of demand; 90% of demand is from totally unrelated sources. One of the reasons gold prices have been dropping again is that some central banks have been selling metal lately.

The main purchasers of gold are individual people buying jewelry. China's gold hunger has very little to do with the country's central bank and everything to do with newly wealthy Chinese consumers.

 

[heckler73]

I hope none of you bought gold at $1190, its at $1255 now, a sure sign of huge losses to come on a valueless commodity that isn't really even traded much any more.

You must be blinded by the shiny precious, or you're looking at a chart from a week ago...
Or are you including the premium you just paid at your local coin hustler?
The chart does appear to be making another "cup and handle", so there could be another $10 bump coming up. What's your strategy going forward? Double-down at $900 ?

[video=youtube;VoVe_UMUSwg]http://www.youtube.com/watch?v=VoVe_UMUSwg[/video]

 

[NoDrama]

Let me know when gold goes under $340, that is when I start losing money.

You guys should buy stocks.

 

[NoDrama]

Central banks are certainly not "the main purchasers of gold." Central bank purchases account for about 10% of demand; 90% of demand is from totally unrelated sources. One of the reasons gold prices have been dropping again is that some central banks have been selling metal lately.

The main purchasers of gold are individual people buying jewelry. China's gold hunger has very little to do with the country's central bank and everything to do with newly wealthy Chinese consumers.

Yup, jewelry is the largest use of gold, good job.

The main purchasers of gold are consumers, but none of them individually purchases 10 tons at a time. Central banks do, in fact last year they purchased 530 tons of gold, out of the 2500 tons produced.

I guess its all in how you look at it, thanks for your viewpoint.