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Gold Slumps to Two Year Low

Discussion in 'Economics and Financials' started by 305, Apr 15, 2013.

  1. 305

    305 Ryan F'n Tannehill Club Member

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    Go away.. 'batin.
    http://www.reuters.com/article/2013/04/15/us-markets-precious-idUSBRE93E0FI20130415

    So can someone explain in layman's terms why gold would fall further with the expectations of a falling global economy? I had always thought that gold was the "fall back"... the reason why it had risen so much in recent years?
     
  2. Fin D

    Fin D Sigh Club Member

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    Because Glenn Beck and others in the gold market, preyed on everyone's fears about the economy and now its saturated the gold market.

    Besides the wealthy hold all the money in this economy anyway.
     
  3. unluckyluciano

    unluckyluciano For My Hero JetsSuck

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    chinas been buying the gold to fight off rapid inflation. If they aren't expanding then they won't buy as much gold. The US doesn't use gold as much for the dollar anymore either. So, this makes gold even less important. The people who were talking about investing in gold due to our own inflation, which hasn't kicked in, weren't giving very good advice.
     
    305 likes this.
  4. MikeHoncho

    MikeHoncho -=| Censored |=- Club Member

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    Gold has to be the second biggest scam running, behind diamonds.
     
  5. unluckyluciano

    unluckyluciano For My Hero JetsSuck

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    http://www.bloomberg.com/news/2013-04-15/paulson-gold-bet-loses-almost-1-billion-chart-of-day.html


     
    305 likes this.
  6. Stringer Bell

    Stringer Bell Post Hard, Post Often Club Member

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    Gold LOL
     
  7. Eshlemon

    Eshlemon Well-Known Member

    Gold was due to drop as people started profit making as 10 years ago gold was at 300, 5 at 600, 3 at 900. Like the stock market, will really suck for those who jump in buy high and then panic sell low.
     
  8. finyank13

    finyank13 Reality Check

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    oil/gas too
     

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