Honestly, I am somewhat relieved to see the gold/silver slide. The rapid rise has been so unrealistic and has negatively affected my collecting budget and coin availability. I have never been in this for short term gain. I hope this is signals a normalization of things ahead.
It's about time. It needed a price correction. To continue an upward streak every day is insane. Give it time and it will continue up. Nothing's changed in the world that I know of. If you want it to go up, pray for a war.
Naw, the bullion dealers will take a few days to get it up a percent or so and then knock it down for a second wipeout where they can replenish their supplies and then drive it up with November "comments" and then the final wipeout to make their year complete. Every 4 years !
Price drop or not, this was a good day — at least for me — to unload ETF shares at a nice profit. Tax-free, at least for now, since it was in an IRA.
Absolutely, I thought the correction was coming last week but again I was wrong. The price may go down quite a bit more but that's okay, most gold collectors know it's part of the bigger picture!
Smart investors recognize what has happened and this is an across the board correction. It will stop before going back up to new highs.
No war required, it's a correction that needed to happen, nothing more! The price will start going up again, real soon! My guess, I don't have one this time!
Profit taking IMHO. Any major market movement will pause at times for those who wish to lock in gains. I don't see a major end to cheap money anytime soon, so do not think this is the beginning of the end for prices.
Today's drop was the 27th largest percentage drop ever for gold. Mere bag of shells, as The Great One used to say.
Agreed. I figured the profit taking would happen first thing Monday after the weekend, but wasnt surprised at all yesterday
The price drop is practically a non-issue to me. Today's price is still a tad higher than the historical price of $1921.17 that was broken not long ago! Gold is still king of the mountain to me!
I know, it was the comment so resoponded to that made me say that. This is nothing more than a needed price correction and probably some profit taking as well. It went back up today.