Gold Price Round II

Thanks to a LARGE SELL order on Comex, flooding the market with 1 million ounces the gold, price has dropped over $75 an ounce.
This was due to the US dollar becoming stronger on prediction of the US economy recovering and lower unemployment.

Wonder where this will lead

http://www.mining.com/2012/02/29/gold-drops-75-in-one-hour/

Yeah um yeah 'i'm not to sure bout that Jonno :arrow: . i rang the mint yesty and they told me

"The great Stoppsy has stopped posting video's and the world now has lost faith in the gold market"

:rolf: :rolf:

Bloody hell i was gonna sell some more today but now no way. basterds

Pretty good article on what could happen -

http://www.thesquirrelist.com/chart-of-the-day/gold-correction-1mar12/

Cheers,
Zap.

Just noticed your new avatar Pete

LMFAO

Thats great news if your buying, AAAhhh wouldnt it be nice to have a million ounces to play with..?

Chris

Pretty little thing isn't she

If i could only join HER knitting club forum i would be a very happy man....

Crazy Pete wrote:Chris

Pretty little thing isn't she

If i could only join HER knitting club forum i would be a very happy man....

She would do a General Custer on you Pete, right in the ear hole !!!! Not sure on my history ,,, was it custer the indians lobotomised thru the ears with a nitting needle because he didnt listen?
I know it wasnt Col Klink

And i'd sit there and let her do it too

Think it was Sgt Schulze wasnt it

http://www.kitco.com/events/2012/pdac/
Worth watching i guess. A drop in the market only means the Chinese will snap it up super fast. The more they get the less the USA can rig the market.

Makaw wrote:http://www.kitco.com/events/2012/pdac/
Worth watching i guess. A drop in the market only means the Chinese will snap it up super fast. The more they get the less the USA can rig the market.

Thats assuming the US actually has any gold in their Fort Knox :)

No need to panic just yet. Gold will continue to bounce back and forward for a few months yet before it surges yet again.
I will be very intrested to see what will happen if and when the US dollar crashes (which it has to do at some time). They have just been kepping the money presses running 24/7. Now any fool knows that this just does not work, short term yes, long term a major melt down. As for Fort Knox, I think we all know they have very little gold left in reserves.
Now seeing as it is China who is buying up a heap of gold and that they too own the vast majority of the US debt it will ultimately be China who will dictate the gold price and no-one else.
I would love to know the grand scheme

Grand scheme = WW3 unless they just own it all.