Gold Highbanking – A Good Day
See the results of four hours of gold highbanking.
From Wikipedia, the free encyclopedia:
Placer mining is the mining of stream bed (alluvial) deposits for minerals. This may be done by open-pit (also called open-cast mining) or by various surface excavating equipment or tunneling equipment. Read more
Spot gold drop – below $1,100 a ounce.
With the large drop in the spot price of gold yesterday, many insiders believed, or hoped, that there would be a significant bounce back in the price at the start of gold trading this morning.
But, alas, sometimes reality does not accommodate wishful thinking.
So far this morning, the spot gold price has broken through the $1,100 per ounce many believed would be a bottom in this long decline in gold. As I’m writing this, you can see from the gold spot price chart above, gold is currently at $1093.48 an ounce. Read more
GOLD PRICE CORRECTION
GOLD PRICE Due a 50% CORRECTION in 2015.
Jim Rogers talks about the gold price correction.
A strong US dollar with all this talk of interest-rate hikes likely contributing to gold’s seeming change of purpose of late with the three-month downtrend intact.
A fall in global gold prices to eight-month lows this week failed to boost demand in top consumers China and India as would-be buyers anticipate further declines on the back of a strengthing US dollar. Read more
Spot Gold Price “flash-crashed” by over 4% in the span of a minute as $2.7 billion in gold contracts was sold on Sunday July 19th. This sale occurred right before the Chinese market was to open. So, many ‘inside’ traders speculate this massive gold sale may have been done to spook Chinese gold buyers. Read more
Reason to own gold
Peter Schiff explains why a new drachma would be ideal for Greek politicians, but a disaster for Greek citizens and creditors. Peter also reveals why the United States faces the same debt dilemma as Greece. There’s just one major difference – the US already has a currency it can devalue.
Peter, you’re right about the US not being able to repay its debt, but you may be wrong about how that plays out. The US debt market is the largest and most liquid in the world by far, and there’s really no other game in town — the BRICS countries are in lousy shape, and so is the Euro zone, so big money institutions really have nowhere else to go. Read more
The Inside Facts on Gold
Gold is a dense, soft, malleable, and ductile metal with a bright yellow color and luster that is attractive, and is maintained without tarnishing in air or water.
I would not use gold as 100% in my investing endeavors. However gold is the safest long term investment on the planet. It is true wealth and has been for thousands of years. Use it as a BASE not as all your investments. Read more