News Gold bubble burst

[rynnor]

Hope no-one was stupid enough to buy when it was rising - was 1900 a couple of weeks ago but has been dropping since then - now down to 1600 ish and will likely continue to slump.

 

[old.Tohtori]

Well we got a gift to my bro and his squeeze, a 150€ some such gold piece for travel insurance. But i guess 3 grams ain't nothing to cry about

 

[caLLous]

Will be interesting to follow, it's fallen to about July-ish levels at the moment. It fell by a similar amount (in a similar timeframe) towards the end of August and picked up again...

 

[rynnor]

I think it might be oversupply onto the market thats crashing it - theres actually a hell of a lot of gold its just mostly kept away from the markets but if a few countries start to take advantage of the price it'll drop like a rock.

 

[CorNokZ]

here in Spain everyone asks to buy your gold

In Madrid I even saw people in the streets handing out flyers and yelling that they would buy gold

No wonder the market is crashing right now, and rynnor hit the nail on the head in the post above

 

[Nate]

Lets buy back our gold Brown sold!

 

[caLLous]

It's going to have to fall quite a lot to make that an economic thing to do.

 

[ECA]

Hope no-one was stupid enough to buy when it was rising - was 1900 a couple of weeks ago but has been dropping since then - now down to 1600 ish and will likely continue to slump.

lolled.

The main reason prices fell is because the rupee has slid a bit and it's hit indian demand quite a lot, when the rupee settles down gold prices will pick up again.

With more US/UK QE coming, more instability over greece, I can't see the price crashing completely unless a panic reflex takes over.

side note and tldr, cash for gold shit exists because it's a great scam, paying you 30-60p in the pound on what you'd get for scrap at any honest place, it's easy loot in economic trouble times, nothing to do with anything else.

 

[ECA]

It's going to have to fall quite a lot to make that an economic thing to do.

It could literally fall another 500%, and we'd still be paying more than we sold it for.

Gj Gordon.

 

[caLLous]

Lol and the rest...

It would have to fall to somewhere just below the start of that graph.

Wp Gordon.

 

[- English -]

It could literally fall another 500%, and we'd still be paying more than we sold it for.

Gj Gordon.

but he's the best chancellor we've ever had :lol:

 

[Chilly]

It could literally fall another 500%, and we'd still be paying more than we sold it for.

Gj Gordon.

if 100% fall is to 0, what the fuck is a 500% fall? Go and do primary school maths again.

 

[Gwadien]

About 3 years ago, when I was at school, I was doing a stocks and shares competition - where you had £250,000 of fake money, and you had to play it on the stocks & shares, within 6 months, I had made like £2million or so, putting a majority into mining companies - also in Arms Manufacturing companies, after an UK offensive in Afghan was announced.

 

[Lamp]

Anyone hear Ed Balls earlier justifying the sale by Gordon Brown. Unbelievable. I'll see if I can find a link

 

[rynnor]

Anyone hear Ed Balls earlier justifying the sale by Gordon Brown. Unbelievable. I'll see if I can find a link

What do you expect? All Labour can do is try to re-invent the past so that they dont look as insane as the reality.

At every opportunity they and their union friends try to pass the false info that the defecit was somehow caused by bankers not ridiculous labour overspending.

Its been clear for ages as their strategy - it rely's on the stupidity of the electorate.

 

[rynnor]

Just an update to say that gold prices are pretty much the same as they were last month - pretty much static at 1630ish which is pretty amazing when you look at all the instability in the EU.

You would have thought people would be flocking to gold but they arent - I wonder why?

 

[ECA]

Just an update to say that gold prices are pretty much the same as they were last month - pretty much static at 1630ish which is pretty amazing when you look at all the instability in the EU.

You would have thought people would be flocking to gold but they arent - I wonder why?

Long term govt bonds offering sick rates.

 

[rynnor]

Long term govt bonds offering sick rates.

Governments that wont go bust?

 

[Wij]

Governments that wont go bust?

They might go bust but we'll bail them out