Is the US economy really getting better? Is the EU back on track? Is it Bitcoins? I can't figure it out.
Why is gold crashing to below production value?
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The US economy is back on track, I would say this is the main reason; in times of total unzecurity, gold is very attractive, when it gets more stable, then people can invest in many other assets. Either that or India has banned all jewelry ;)Comment
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mining cost is irrelevant, only demand matters, low demand = price sinking...
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Not in this case. People who short gold are moving away from it, that's it. The east is buying as much gold as they can get their hands on, at any price. So are Central Banks. The demand is still huge. In fact, it's even more since it's down.
In China right now they have roped lines outside of many gold shops with 100s if not 1000s of people in line. Keep in mind, China is 1/3 of the world's population. And we're not even talking about the rest of Asia or India who's also buying as much as they can carry.Comment
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Price manipulation plain and simple. The US Bond market is in bad shape so the Fed is likely using the Working Group to drive down the price of Gold likely to inflate the dollar. But if you're smart and invested in them you should get out of your bonds now before the implosion and pump it into gold while the price is being driven down.PLEASE WAIT WHILE BIDEN ADMIN UNINSTALLS ITSELF.....
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"I believe that most of the headwinds that were present remain, so I believe ultimately we could go to $800 to $900 an ounce," he said on Thursday's "Futures Now."
if that happens a lot more gold mines will close
http://www.cnbc.com/id/100850226Comment


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