I heard that the "typo" was traced to Citi, but they investigated it and denied that it happened. So perhaps something else was the cause. This sort of thing shouldn't be surprising. The computerized high velocity trading that accounts for 40% of all activity now doesn't analyze companies or financial conditions in any way. Most of the extreme trades will probably be undone as "mistakes." I, for one, belive that the computer geeks who pull millions out of the market on a daily basis by front-running everyone else with their programs should either eat the loss when their precious machines break down, or give back all of the ill gotten gains.
CURRENTLY: in US markets... GOLD: $1,198.30/oz. Silver: $17.65/oz. Platinum: $1,658/oz. Palladium: $507/oz.
Oh how I wish I DVR'ed all the news stations yesterday so I can review all the "experts" who chimed in on Greece's debt in relation to the plunge. Who knows what really happened, maybe there really was no typo at all and it really was the debt issue, doesn't seem like the asian market made much of a dent over night..... I am hearing rumors that the typo was made up just to stop the free fall from continuing....
That sounds more credible. We'll probably never know the truth, but some plausible explanation will eventually be manufactured for public consumption.
I don't buy the typo idea but I did try to buy some equities I'd been researching and interested in, during the decline:eat:, but without any success:crying:.
So there really must be more money out there in the world. I was just thinking that the "sales pitch" for silver is that it's affordable, and I agree completely. But when fear is in the air, gold is still what people "with money" still invest in. Silver proved yesterday that it did NOTHING during the DOW plunge...ok, it went up like 15 cents... Even though I talk about selling silver and maybe I still will, but at the same time, I don't think I own enough of it.... (yeah figure that one out) Anyways, makes me wonder at what point does gold have to go up before it just becomes too high that silver really becomes the next metal to invest in....
while krispy is heavily counting his money. i can't sleep and will continue his role to report gold and silver prices. gold high $1,214.10 silver high $18.69
CURRENTLY: Counting cash in this market is probably prudent, but Elaine you are the one who just cashed out and bought PMs, are you selling PMs now too? GOLD @ $1,210.00/oz. Silver @ $18.42/oz. Platinum @ $1,667/oz. Palladium @ $515/oz.
Speaking of gold, would you say it's best to buy gold right now or sell? Let me clarify, I know it would have been better to buy gold another time other than today but my point is if someone does buy gold today do you think they can still make a profit? In other words do you think gold is gonna go higher like to $1500? Here's the gold coin I'm asking about, I want to upgrade but I could just keep it. Right now I could sell at a $70 profit. What would you do with it? Try to be nice as I am still learning about gold and how the price is affected. Oh, one last thing. As far as a grade on this coin what would you give it? I gotta run and pack some ebay stuff. thx
Grade doesnt matter in this thread, it's about bullion, not numismatics. Post in Coin Chat and you will get more feedback there.