interesting ... recent attack on gold triggered broad-based sell-off starting with commodities, entire market is selling off now ... my guess is investors are quite wary of market manipulation at the moment and choose to pull their money out, although the bears could be right and everything should go to $0
Actually it was Barrick crashing first from its Pascua Lama problems (on April 10th), then Gold followed and started heading down the next day. Looks like an artificial drop in Gold as the market took advantage of Barricks misfortune IMO.
Hey Furball, it seems you are the one needing a fresh breath of reality, you said:
"buy ABX if you want to invest in gold miners"
That was Feb 6th 2013 when ABX was $32. LOL Plenty of investors were warning you about Barricks Pascua Lama issues, you told them to "go fork themselves". Look like your the one who got "forked". Anyone listening to your BS better get their head checked.
If you can pull your head out long enough to listen to reason, voodoo doo doo, I will tell you what happened:
some whales took big capital gains on their investments last year to avoid 2013 tax increases, and then they sold GLD to pay for their 2012 tax bill
Since that caused the price of gold to drop $200/oz over 2 days, of course that caused the rest of the market to freak out (I was in shock until I found the answer earlier today in a Forbes article), and that's what resulted in the broad-based sell-off of other commodities like oil and more recently the entire market. That, plus whales selling to come up with the money to pay their taxes.
Oh, OK, I should have written:
"although the bears could be right and everything EXCEPT THE U.S. DOLLAR should got to $0"
There, is that better? Have a sense of humor, you hoser.
don't forget oil too
EVERYTHING is selling off
short everything to $0, only the U.S. dollar has any value (NOT!)
My wife gave me the courage to invest more, but I'm putting it into AAPL not ABX. I'm stuck with this ABX POS, will sit on it until Pascua Lama starts producing. No more ABX for me.
I can prove it was not the Fed:
1) The gold sell-off affected *everything*, it is destroying confidence in the entire market - certainly the Fed would never do that
2) it was timed to come up with the cash to pay taxes by the April 15th tax filing deadline