Who’s selling all the gold???
We had a big selloff today, and the pattern repeats. In reference to the original question, “who’s selling off all the gold?”, my answer is nobody. Futures contracts are paper, not gold. There is no spoon.
yeap. I saw that video a few months ago and read up on some things. No doubt there’s a lot of fraud out there in the gold market and when the ball drops, a lot of people are going to get crushed bad.
At least if you get stuck in a stock like MSFT when it goes down, you still have ownership in a real business and you get a nice dividend while you wait for the rebound. With gold, you get nothing and you might have to wait 30 years just to break even. People who bought gold in 1980 are still down by 60% adjusted for inflation.
I think gold will go a good deal higher but I dont want to be caught in it when the bubble pops.
I’ve heard from lots of people that there is a bubble in the Gold Market. However, I’m not so sure it will drop so far that it will crush anyone. With the economy the way it is, and the printing of money I see it going even higher and still be a reliable investment. Yes there is over marketing and too many small EFT traders driving up the prices but at the same time, there are very valid reasons for doing so. I’d expect for some price adjustment if there was some good news about the economy (even if it was fabricated like using Obama’s magical math) but then followed up by another rise soon after.
I switched my entire porfolio into Commodities and 40% of that into Silver and a little Gold. Both have really paid off as an investment and as a source of security.
Something I saw posted at AFE
WASHINGTON Dec 21 (Reuters) – The International Monetary Fund said on Tuesday it had concluded the sale of 403.3 tonnes of gold under a program approved in September 2009 to help boost its lending resources.
All gold sales were at market prices, including direct sales to official holders, the IMF said in a statement.
The gold sales amounted to one-eighth of the IMF’s total gold reserves. The fund sold 200 tonnes to India’s central bank last year.
Other buyers have included Bangladesh, Sri Lanka and Mauritius.
The IMF said on Nov. 29 it told 19.5 tonnes of gold in October, but it has not yet provided details of sales in November or December.