Gold and Silver dropping like it's Hot!!

Silver -0.39 of course (not 9)....yet..

Dow Jones 14,598.20 -63.81 (-0.44%)
S&P 500 1,558.20 -12.05 (-0.77%)
Nasdaq 3,228.35 -26.51 (-0.81%)


3 hrs to go. Right now PM's dropping hard.

Copper continues slide to close at US$3.359/lb; gold, silver also down

Copper closed Wednesday at US$3.359/lb cash on the London Metal Exchange, slipping further from the previous session's US$3.372/lb and hitting an eight-month low.
Sentiment weakened after poor PMI data came out of Europe, following data from China showing that the manufacturing PMI came in at 50.9 for March, which disappointed the market despite exceeding February's 50.1.

"The weakness in copper prices despite a copper smelter stoppage in India and a port strike in Chile highlights how poor sentiment is and that suggests the market has taken comfort from the likely supply surplus this year," William Adams frin FastMarkets said. "That said, we note that there is some tightness appearing in China and that might start to prompt provide support for the LME metals."

"For precious metals the fact that price are falling despite the recent events in Cyprus and the sabre-rattling between North and South Korea suggests that long liquidation is dominating the trading at present," Adams said.
"With some financial institutions also lowering their forecasts it does look as though sentiment has turned considerably more bearish for gold and silver," he added.

[link to www.bnamericas.com]

European stocks fall sharply

In general, analysts noted a gloomy atmosphere owing to figures which indicated a slowdown in the huge US services sector on top of weak employment prospects in the world's biggest economy, which together raised concerns about its recovery.

"US economic data hasn't been great," ETX Capital analyst Ishaq Siddiqi noted in London.

[link to www.businessspectator.com.au]

Banks take bearish view on yellow metal

Société Générale this week released a report headlined “The end of the gold era” that has spooked investors, only a few weeks after Credit Suisse sent a note to clients titled “Gold – the beginning of the end of an era”.

Ric Deverell, head of commodities research at Credit Suisse in London, said: “Gold remains a long way above historical means – in real terms and relative to other assets – and we expect some of that premium gradually to dissipate.”

The negative views are hurting the precious metal, with investors in physically-backed exchange traded funds withdrawing assets in large quantities. February saw the largest monthly outflow of gold from ETFs on record.

Bearish analysts are targeting prices around $1,500-$1,400 per ounce by the end of the year, roughly 10-15 per cent below current levels.

[link to www.ft.com]

Gold Is Really Looking Bad


Gold crumbling is a big story that more people are talking about.
As you can see in this chart from KITCO, just a few days ago, gold was still above $1600.
Today it's touched $1550.

[link to www.businessinsider.com]

Dow Jones 14,563.64 -98.37 (-0.67%)
S&P 500 1,554.20 -16.05 (-1.02%)
Nasdaq 3,216.95 -37.91 (-1.16%)

gee you're not too obvious in your metals bashing

tell me, why are central banks worldwide (China, Russia, etc, etc) buying gold at record pace?

maybe you should be too before the direction changes again.

1543.60 and falling.

[link to www.apmex.com]

Dropping like a shiny rock. LOL!!!

People with money should have enough to hire a truck to back up and load up at these bargain prices.

$1500 for a shiny yellow rock and $26 for a shiny grey rock is not a bargain.

I bought some ag today :)

Tell me about shiny grey rocks. I am pretty naive.

it may fall to around 1400 and then go up sharply at the time of stock market correction and never fall below that level again.

Gold will fall low enough to make you soil your pants. After which it will fall until it's properly valued at $44 / Oz.

Silver will drop to almost nothing as it's not a monetary metal as far as debt payment is concerned.

But you can always take solace in the fact that you never lost an Oz, only paper debt instruments back by your future labor. LOL!!!

Not much to tell.

1- There pretty (shiny)
2- There rocks
3- Tards like collecting them. Seem to be tied with a magical power to stop SHTF for the owner of said rock.

it won't stop SHTF but the people in cyprus who lost their deposits sure wouldn't mind if they had some of those shiny things at home.

same old game. drive the price down. spread fear all over the internet so the public panics and sells. then the elite buy it all up....

You really thing people in Cyprus aught to invest in rocks after loosing there banking investments?

They just took a hair cut, you really think they need another one right now?

Yea those evil elites are out to get your rocks!!

Ohh I got it now. the grey rock is silver. As far as your theory goes, when SHTF women become powerful. Contrary to the DOOM rants that they are traded like sex slaves.

Women like shiny stuff and when the SHTF one of their sex slaves might be told to help you in a fight.

best investment is in learning and your health i.e. keeping fit, working out, eating healthy, the more skills and knowledge you have, the better chances of survival when SHTF.

Not my theory, talk to the Tards touting the virtues of rock collecting

That's a good start to building real wealth