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OfflineCubenisseur
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Gold / Silver...Why the sudden plunge??
    #8172118 - 03/20/08 02:21 PM (15 years, 10 months ago)

Why did the PM's suddenly drop like a hot potatoe?

Good time to get gold before it gets back to $1000 and make $100 an oz?

Discuss


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Invisiblememes
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Re: Gold / Silver...Why the sudden plunge?? [Re: Cubenisseur]
    #8172133 - 03/20/08 02:24 PM (15 years, 10 months ago)

i know gold fell a healthy amount the otheer day after the fed made it's 75bp cut and the Dow rallied 400+.  I haven't really checked it since then, but i believe it fell to around $960 after the rally... 

ima go check this out.  school's been keeping me too busy to stay active :frown:


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OfflinegeokillsA
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Re: Gold / Silver...Why the sudden plunge?? [Re: Cubenisseur]
    #8172903 - 03/20/08 06:05 PM (15 years, 10 months ago)

I touched on this earlier in the week on my Stocks thread.

Three things:
  • Dollar Strength: Dollar-priced commodities, like gold, will react inversely to movement in the value of the dollar. Therefore, as the dollar began to pick up steam this week (thanks to some measure of order coming back to the financial markets due to the fed and treasury's recent actions), things priced in dollars - such as oil and gold - got hit hard.

  • De-leveraging: Hedge funds and large investors will not be able to use the same amount of leverage (aka margin, aka debt) to finance their investments, since the brokers (the lenders) have become more conservative in order to protect their own capital. Therefore, hedge funds are booking profits in commodities like gold, in order to shore up their capital reserves since whereas before they may have been able to borrow $10 to $1, now they'll only be able to borrow $5 to $1 (not an exact example, but a general example of the reduced amount of margin debt investors will be able to use from their brokers going forward).

  • Profit Taking: Gold and other commodities have had a stellar run over the last many months. No shame in taking a profit, especially as gold hit the psychologically imperative $1000-mark. A lot of people were in on gold from $600 - $800, so taking some of their investment off of the table in order to secure their gains is the prudent move to make.


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OfflineCubenisseur
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Re: Gold / Silver...Why the sudden plunge?? [Re: geokills]
    #8173944 - 03/20/08 10:20 PM (15 years, 10 months ago)

Thanks for sharing. Thats good informtion.

I was pricing what Palladium bars were going for on ebay while simultaniously watching the price drop yesterday. Quite intereting.

Now I'm curious what will happen over the next 30 days.


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Offlinemoon_glue
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Re: Gold / Silver...Why the sudden plunge?? [Re: Cubenisseur]
    #8192056 - 03/25/08 03:37 PM (15 years, 10 months ago)

dont forget where we were this time last year.

silver hitting 14 then dropping to 11
gold was dropping from 750ish to 550ish or soemthing. cant remember exactly what the numbers were

anyway. if these are the new lows they blow last years highs out of the water. beats the shit out of a savings account,


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InvisibleAsante
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Re: Gold / Silver...Why the sudden plunge?? [Re: Cubenisseur]
    #8195806 - 03/26/08 09:43 AM (15 years, 10 months ago)

Quote:

Good time to get gold before it gets back to $1000 and make $100 an oz?





Lets see.. Gold in the 930s.. Its high man, I'm not buying gold.

Like Moon Glue said, look at what we came from just a year earlier.

Gold went down a notch, but I would not be amazed if it would go down two notches more ($700)

In the not too distant future I can see $1.250 happening though, at least thats my first main unloading target.


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Offlinephi1618
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Re: Gold / Silver...Why the sudden plunge?? [Re: Asante]
    #8195854 - 03/26/08 10:04 AM (15 years, 10 months ago)

Yeah - commodities, gold included, will continue to be volatile. Seems likely (not guaranteed, but quite likely) that you'll hit your target before too long.


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OfflineDerk
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Re: Gold / Silver...Why the sudden plunge?? [Re: phi1618]
    #8226172 - 04/01/08 08:50 PM (15 years, 9 months ago)

so is it too late to jump in on it even for a short term gain?


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OfflineKarenTandy
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* [Re: Cubenisseur]
    #8244882 - 04/05/08 11:20 PM (15 years, 9 months ago)

*


Edited by KarenTandy (08/13/09 09:43 PM)


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OfflineCubenisseur
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Re: Gold / Silver...Why the sudden plunge?? [Re: KarenTandy]
    #8249641 - 04/07/08 07:26 AM (15 years, 9 months ago)

Make sure you get enogh z's to make it worth your while.


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Offlinedebianlinux
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Re: Gold / Silver...Why the sudden plunge?? [Re: Cubenisseur]
    #8254585 - 04/08/08 07:53 AM (15 years, 9 months ago)

Any amount of weight in either metal is going to be well worth your while. If you are buying right now this fact is becoming more and more obvious.


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InvisibleLunarEclipse
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Re: Gold / Silver...Why the sudden plunge?? *DELETED* [Re: debianlinux]
    #8254731 - 04/08/08 09:04 AM (15 years, 9 months ago)

Post deleted by LunarEclipse

Reason for deletion: n/a



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InvisibleLuddite
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Re: Gold / Silver...Why the sudden plunge?? [Re: LunarEclipse]
    #8307363 - 04/20/08 08:57 AM (15 years, 9 months ago)

Make money!



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OfflinegeokillsA
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Re: Gold / Silver...Why the sudden plunge?? [Re: Derk]
    #8423828 - 05/20/08 11:18 AM (15 years, 8 months ago)

Quote:

Derk said:
so is it too late to jump in on it even for a short term gain?




If you pay attention to my Stocks thread, you'll have noticed that I've been building a position in a gold mining company over the past few months all the while gold has been cooling down. Check out the following chart:





When the public opinion of gold is stretched on the side of pessimism (as it is now), it may indicate a good time to buy. Keeping in mind that May and June have historically been seasonally weak periods for this precious metal, and that August and September are two of the stronger "seasons" for gold, you may want to think about building a small position right now, and adding to it on any further weakness. I would also suggest that the stocks of gold mining companies are trading at historically low valuations, when compared to the net value of their assets, and therefore may hold more upside than owning the actual metal itself. Of course, my recommendation comes within the context of a diversified portfolio. I wouldn't want to see you putting all of your eggs in one basket, unless you accept that it is money you can lose and still be OK if you do!


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InvisibleGr33nday43
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Re: Gold / Silver...Why the sudden plunge?? *DELETED* [Re: Cubenisseur]
    #8438172 - 05/23/08 08:35 PM (15 years, 8 months ago)

Post deleted by Gr33nday43

Reason for deletion: That's a secret.



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Offlinebukujutsu
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Re: Gold / Silver...Why the sudden plunge?? [Re: Gr33nday43]
    #8441435 - 05/24/08 07:15 PM (15 years, 8 months ago)

Wow, that was certainly scary...


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OfflineCubenisseur
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Re: Gold / Silver...Why the sudden plunge?? [Re: Gr33nday43]
    #8470622 - 06/01/08 11:05 AM (15 years, 7 months ago)

Thanks for the post!


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