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View Full Version : Gold and Silver Tanking.... So is the Dow, see the FED at work!




the count
03-02-2009, 09:24 AM
Gold and silver are plunging. Just as the Dow and SP are falling apart. Coincidence? My guess the FED along with their Goldman Sachs buddies are orchestrating this so that people don't totally throw in the towel and go into precious metals. DO NO BE FOOLED. Use this as a buying opportunity if you still have cash!


http://www.kitco.com/charts/livegoldnewyork.html

...look at how gold started to move down the moment the stock market opened...

ILUVRP
03-02-2009, 09:27 AM
Gold and silver are plunging. Just as the Dow and SP are falling apart. Coincidence? My guess the FED along with their Goldman Sachs buddies are orchestrating this so that people don't totally throw in the towel and go into precious metals. DO NO BE FOOLED. Use this as a buying opportunity if you still have cash!

I'll second that.

slacker921
03-02-2009, 09:30 AM
People are dumping their mutual funds, etc.. it's another run to cash just like we saw last Fall. It's across the board selling. The run to cash is also causing the dollar to go way up (88.82 = up .84%).

The Fed and the big TARP funded banks certainly have their hands in the market, but some or most of what we're seeing is just people reacting to the crappy economic indicators (http://www.calculatedriskblog.com/2009/02/february-economic-summary-in-graphs.html) and selling like crazy.

Deborah K
03-02-2009, 09:32 AM
When gold and silver go down, is it the tangible gold and silver, or the gold and silver stocks? I mean, I know the price for both is affected but is it the PM stocks that are causing the fluctuation? The reason I ask is because I read something recently that I thought stated that stocks are being sold that don't have any backing of tangible PMs. If this is true, then PM stocks are not any different than any other stock, are they? In which case, that makes them vulnerable to the game of chance that is the stock market.

ILUVRP
03-02-2009, 09:42 AM
When gold and silver go down, is it the tangible gold and silver, or the gold and silver stocks? I mean, I know the price for both is affected but is it the PM stocks that are causing the fluctuation? The reason I ask is because I read something recently that I thought stated that stocks are being sold that don't have any backing of tangible PMs. If this is true, then PM stocks are not any different than any other stock, are they? In which case, that makes them vulnerable to the game of chance that is the stock market.

I would think gold/silver will move up w/o the PM stocks going up.

People will dump any stock they have a profit in to make margin calls.

I don't think that gold/silver prices will be effected by the pm stock actions.

Sandra
03-02-2009, 09:46 AM
Could Kitco or the other silver companies question this and not use spot pricing? have they ever done it before?

Original_Intent
03-02-2009, 09:49 AM
Spot price is a joke. As the spot price plummets, the premium for physical will go up.

hugolp
03-02-2009, 10:34 AM
Gold has to be getting a lot of attention lately because every time it does a big move, Kitco gets overload.

Either that, or their webmaster has no idea, but I doubt it, since Kitco is quite a big page.

Hugo

PS: Funny thing is gold is still going up against the euro.

MrNick
03-02-2009, 10:48 AM
Isn't this good for us in the short term? Buy gold and silver cheaper and have a stronger dollar for a little bit?