Thread: Gold price drops

Gold price drops

Last Updated : 2010-07-20 11:24 PM
The Himalayan Times - Himalayan News Service

KATHMANDU: International price has pulled the gold price to Rs 30,000 per 10 gram today in the domestic market.
The precious yellow metal is being traded at around $1,183 per ounce in the international market today.

The price is nearing the lowest level that the domestic market saw some two months back. It touched the lowest price of Rs 29,625 per 10 gram on May 24 in the domestic market.

However, traders think that the bullish trend of gold has not yet ended and any time soon the price might start looking up as gold has broken its previous record as it was traded at Rs 31,035 per 10 gram on June 27.

“The reason behind a fall in the gold price is Euro getting stronger,â€

I think the price will stay flat until the Nov. election.

Originally Posted by hardlineconstitutionalist

I think the price will stay flat until the Nov. election.

Or the bubble could burst?

Volatility is the name of the game. Time to shake the sugar tree?

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It's called speculation.

But we are in an economic time that has not been seen before in America. As the dollar devalues it is true that the price could go to ridiculous levels in USD dollars. But this would be because of a USD collapse. If that happens then dollars will not buy much anyways...so what is the hedge?

Commodities and stocks are the Los Vegas games of the elite. In the current state things are stable enough that nothing really weird happens. But if the USD collapses and we go into triple or quadruple or free fall inflation then gold coins will not buy you much in America either because of lack of supply.

Big money is made by big guys that can take millions of dollars in stock and buy and sell in tiny moves...not by little people that buy a hand full of coins or stocks and wait for them to double or triple in price...that thinking is fairy tail land. The lotto is about as good a bet.

Buying good guns and bullets and a copy of the twilight zones "How to serve man" cook book is the best hedge. Solent green is people. Just kidding...

Treat it strictly as a commodity and you will get burned. With that said, where is the bottom, inflation adjusted, as a commodity? I venture it is not far from where it is. Yet the inflationary effects are yet to rule, so the paper tigers have no teeth.

On a hard shake, a real hard shake at that, I don't see it going below $890.00 That will signal a strong buy. JMHO

Any fun predictions?

Words of Wisdom

"The Chinese use two brush strokes to write the word 'crisis.' One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger - but recognize the opportunity."
- John F. Kennedy

"Too many people are thinking of security instead of opportunity. They seem more afraid of life than death."
- James F. Byrnes

"Trouble is only opportunity in work clothes."
- Henry J. Kaiser

"There is no security on this earth, there is only opportunity."
- General Douglas MacArthur

"The Chinese use two brush strokes to write the word 'crisis.' One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger - but recognize the opportunity."
- John F. Kennedy

In my super weird no one wants to hear philosophy of the big picture..."chaos is the engine that fuels the universe..." or positive negative...right wrong and on and on. With out opposition there is no change, motion or evolution.

In that...I sometime feel that governments main job is to create chaos...there by creating opportunity for everyone. But you have to see that it is not a deception...it is a game stratagem that has to be learned to understand the advantages. You have to have the stupid and weak to predate on.

Main stratagem...make everything about "War" games. Everything is perpetuated on adversity...even the two party system.

So in this scenario we may have the greatest POTUS ever. Maybe he is the greatest game player to ever be seated?

Originally Posted by roundabout

Treat it strictly as a commodity and you will get burned. With that said, where is the bottom, inflation adjusted, as a commodity? I venture it is not far from where it is. Yet the inflationary effects are yet to rule, so the paper tigers have no teeth.

On a hard shake, a real hard shake at that, I don't see it going below $890.00 That will signal a strong buy. JMHO

Any fun predictions?

Seeing the bottom is not the problem...that is zero. Will it ever see that?...there was a time when gold was collected because it was a pretty rock...but of no value. Flint stone and good shale rock was worth much more. But it will always be a pretty rock.

But when you compare gold price to dollar...it should be trading at around $15,000 an ounce.

My fun prediction. Don't buy what you can't afford to lose and don't gamble on getting rich with your last dollars. Just buy it because it is pretty and fun to own.