Next Level: GOLD $1,350.00

Depends. If they pull it out of circulation then less $ in money supply and less inflatonary pressures. However, Pelosi is making noise about spending the "remaining" TARP money on infrastructure to create jobs. If they include the amount paid back in "remaining" then it goes back in circulation increasing supply.

 

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now down to $1187

 

Did I miss the memo on gold recently? Why the drop? Not that I am concerned....

 

I know they have all of those fees, but I would have thought you would still make more. I know it's a pain to go thru all their . . . er, stuff.
A few years back I had several complete albums and sold all except my special ones. It got to where I was putting up several coins at once just to hurry it up. Plus here a person has to stand in the PO lines for over 30 minutes. I don't sell much anymore, but I would if I was selling big $$$ items. Good luck to you Yankee!
Chuck

 

Wow, a sharp drop, but it looks like it coming right back.

Did they back it up so Warren Buffet could pad his gold reserves, haha

 

Maybe profit taking... or the jobs summit yesterday... unemployment #s today... maybe the buying competition between eastern (asia) and western (eu/uk/us) taking a break before the weekend after driving PMs up earlier this week.

I suspect these minor drops will just rebound and keep climbing. no big prediction there.

 

The latest job numbers is a joke, it's always been a joke. If gold is down because some people feel there is a recovery, then I'm glad they sold...

When I see reports of 50,000 NEW jobs added to the economy that's positive news.....

Also, perhaps there aren't that many job losses for Nov. because there's less and less jobs left to lose! LOL...

 

I concur.

But those numbers, if factors at all to PM price fluctuations, may still influence some people out there to sell now or take risks elsewhere.

 

Gold at $1189 now....ouch....

 

MetalBidAsk Gold$1,174.50 $1,175.50 ($42.20) Silver$18.41 $18.46 ($0.66) Platinum$1,444.00 $1,454.00 ($41.70) Palladium$371.60 $376.60 ($10.30) Updated:12/4/2009 9:56:31 AM CST

There she blows! boy, am I glad I sold! Another $100.00 down and I buy it all back.

 

It's Yankees fault, he sold too much and now he's crashed the PMs market! LOL!

 

looks more like the next level is $1150 to me

 

When you SEE reports of 50,000 jobs added, it will be too late to capitlize on most of it. As has been stated by many before, GOLD is basically playing a proxy for the uncertainty around the long term continuance of the US$ playing a large role as a reserve and the US economic situation.

Fear that its a deep, long protracted recession feeds the fear (understandibly). News to the contrary lessons the fear and probably stimulates many to take some money off the table 'just in case' its try.

Given the recent run ups in PMs (silver has really done much better than Gold), it not at all surprising to see some retracement on any good news.

As a side note, one of our local dealers WAS buying circ silver $ at 11.5x and selling at 14.5x while APMEX was buying at 15x....an small but interesting arbitrage opportunity if one could get enough inventory to make it worthwhile.

 

This will probably be a short and shallow dip. With all of the expensive government mandated programs they are trying to push (when we are effectively broke) none of which show any signs of going away any time soon, and all of which have the effect of raising taxes in one way or another, and killing off even more jobs....there's no way that there's any rosy future for the dollar.

I expect within a few days they'll explain how the "fudged" the job numbers...and then there's that commercial real estate default problem that many say is about to begin playing out.

Add all of those things up...and I see this dip as a buying opportunity. It's all being done with lights and mirrors. The government's reports are the last thing I would believe. Look at the big picture. It ain't pretty.

Nightowl

 

There certainly are a number of things that could go wrong and not a lot of progress in addressing them....still too much politics and blame game.

 

" I see this dip as a buying opportunity."

I agree, esp. for those who have been waiting for a chance to buy and expecting to see a significant rise in the year(s) ahead.
​

 

I know I am ready to buy! as soon as it drops to $1000.

 

the way it's going, that could be Monday! sheesh... look at it go!!! Down $40+ today already!

 

"Help! I've fallen, and I can't get up!"

What? Of course you can... but buy some more gold while you're down there. :goofer:

 

Dropped more than that on Nov 27 only to recover most of it (before I could buy!)