and it scares the living hell out of them. Who wants to be last holding the bag of "fools gold" when gold drops under $500 an ounce. Not me.
Just wait until Portugal announces this month or next that it will be selling its gold reserves. Gold could drop $250 on that news alone. Then follow that up with the Fed warning of tightening later this year and gold dive bombs under $100 a share. When if falls - it will fall fast. So fast that you won't know what hit you if your long gold or long GLD.
Best to sell you long position first thing Monday morning and invest else where.
ok older dude... let me ask u just 1 question please SIR!
why exactly is the US Fed disallowing Germany from getting its Gold for 7 years?
come on.... yer the Older dude who everyone must admire & respect yes? got an answer for me... dude?
thx a lot. your inferior,
I'm sure they will get it back if they want it.
Is it on deposit with Fed or Treasury? Fed carries no gold on balance sheet, other than an "IOU" for gold they transferred to Treasury they bought from US citizens when individual gold holdings became illegal
Sentiment: Strong Sell
Physical gold has dropped about $10 on eBay since Wednesday before the crash. This is a PAPER gold crash. Not a physical gold crash. Physical gold is just fine. Sounds to me like a crash in paper banker promises, not actual gold.