GOLD SINKS BELOW $1500!!! Prices hit $1,482 ; silver drops 5.3% !!! The Bear Market In Gold Has Officially Begun!!!

Business Insider‏@businessinsider48 s
The Gold Collapse Is Great News [link to read.bi]

Russian Market‏@russian_market33 min
This is why Gold is crashing today below 1500: French Inflation Falls To 39-Month Low; Spanish Inflation Eases in March; CPI Down to 2.4%

Gold sinks over $60 to lowest since July 2011
Prices hit by technical selling; silver drops 5.3% SAN FRANCISCO (MarketWatch) — Gold futures sank Friday, poised to settle at their lowest level since July 2011, as recent cuts to price forecasts continued to hurt sentiment, prompting investors to lose confidence in gold as a safe-haven investment.

Gold for June delivery /quotes/zigman/647778 GCM3 -4.01% extended losses after downbeat U.S. retail-sales data, dropping $67.30, or 4.3%, to $1,497.60 an ounce on the Comex division of the New York Mercantile Exchange, on track for a weekly fall of nearly 5%.

“It’s pure panic bedlam on enormous volume,” said Gene Arensberg, editor of the Got Gold Report.

Based on most-active contracts, prices haven’t settled at a level this low since July of 2011.

Gold also fell along with other commodities as the dollar rose on a weak batch of U.S. data and as the psychological impact of potential selling of the precious metal from Cyprus continued to take a toll.

Gold these days “does not seem to respond adequately to the current financial and geopolitical situation,” said Frederic Panizzutti, senior vice president at MKS Group. “The rumors yesterday about Cyprus possibly selling some gold from its Central Bank reserves had a psychological impact resulting in some selling despite the fact that the amount of gold being mentioned could easily be absorbed by the market.”
[link to www.marketwatch.com]

Gold has taken three sharp declines this morning: once around 5 AM ET, again around 8:15, and then again around 10:30.

Despite weaker than expected retail sales figures and plummeting consumer confidence in the United States, it's down 4.5%, trading near $1494 per ounce. (Silver is also getting slammed – it's fallen 5.4 percent this morning.)

The shiny yellow metal hasn't traded below $1500 since July 2011.

Meanwhile, oil is getting whacked for the second straight day. It's off 3 percent.


Read more: [link to www.businessinsider.com]

*5 stars

Interfax News (IFAX)‏@IFAXnews5 min
Russian equities hit 5-mth low, Sberbank leads market down [link to DON'T_USE-THIS] #EnergyNews #Russia #interfax #news

zerohedge‏@zerohedge2 min
DEMETRIADES SAYS GOVT WANTS TO SELL GOLD WITHOUT CONSULTATION. Independent...Independent...Independent...

Gold will continue to lose value because of four simple words; You cannot eat gold.

Even the rich are coming to that realization. You can have a room full of gold and silver but the man with a room full of food will live longer...and end up with all your gold in the long run.

When you are rich you never experience hunger or feel the hurt of watching your kids go hungry. It is difficult to understand the basic need for food. Money has always solved all your problems.

When it clicks in the brain that someday people will not jump to serve you because you have gold...and the food or water is just not under your fingertips...you will give up the gold to buy food.

I would not wait too long. It is later than you think. It does not matter why you store food. It can be fear of war, sunspots, EMPs, Bird flu, space invasion, drought, or civil war.
The government is not preparing underground bunkers without a good reason. They are smarter than we are and richer as well...follow our leaders.

Hey silvertards! Silver right this moment 26.400 as low as it was in sep/2010

E olá Luis!

Olá amigo!

Comex Gold Inventories Collapse By Largest Amount Ever On Record
"JP Morgan Chase’s reported gold stockpile dropped by over 1.2 million oz.’s, or rather, a staggering $1.8 billion dollars worth of physical gold was removed from it’s vaults during the last 120 days...."
[link to bullmarketthinking.com]

The Fed's Manipulation of the Bullion Market
The Assault on Gold "The evidence for this conclusion is the concerted effort by the Federal Reserve and its dependent financial institutions to scare people away from gold and silver by driving down their prices." [link to www.counterpunch.org]

Petrodollar warfare, BRICS and the criminal federal reserve kicking their collapsed aluminum can of paper a little further at the expense of metals.

Just hoping it stays this low until Tuesday so I can pick an ounce up under $1500!!

Can't get to my local broker until Tuesday

Just to quote, crude oil also droped considerably. This is the reason:
[link to www.investing.com]

And gold, drope because of this:
[link to www.investing.com]

(Now is the time to buy! Take advantage of the drop in price! This is an opportunity!) That is the standard line to help push the prices up.. When gold tanks this hard it makes me want to strap on my seat-belt.

you're dumb

so why are central banks throughout the world gobbling up gold big fella?

They're just trying to convince all the tards to sell so they can buy it up at a lower price before the currency collapse.

Hey guys, I just like making fun of GOLD TARDS ...

Is this front running the Cyprus sale of gold recently announced?
...Kinda like "Brown's bottom".

Keep buying the lows people!

I wish for the $4.00 an oz again in silver!

One day it'll be back there.....and one day it'll be back at $40.00 again. You just need to be patient and watch while buying the lows.

Whole countries want their gold and silver back in physical. That tells you whats up right there.

With silver....there will always be a market for it.

Hyperinflation is going to happen....just a matter of waiting patiently until it does. Silver will go up with inflation guaranteed! Same as gold. So when the big crash happens....that's when you wait it out for a bit and sell as soon as you hear REAL plans for a recovery. Once the recovery is under way...silver and gold will drop in price back to a value people will pay for it for it's uses. Once that happens you start buying again and wait it out for the next crash.....could take a hundred years....but at least your cash value stays level and you make a few bucks along the way.

The point of any market is to buy low and sell high

not just buy and buy and buy and never sell etc...





I shall leave now ...

zerohedge‏@zerohedge2 h
And another miss: Business Inventories 0.1%, Exp.0.4%. Downward GDP revisions galore

THISTHISTHISTHISTHISTHISTHISTHISTHISTHIS

Flawed thinking right there.

Smart people have both precious metals AND a stash of storable food to go along with their plot of garden and heirloom seeds, etc..

The crowd that keep bleating the 'you can't eat gold/silver' mantra are unfixably stupid.

zerohedge‏@zerohedge2 min
EUR flatlined. All about the JPY now

Business Insider‏@businessinsider8 min
$10,000?! These 8 Gold Ultra-Bulls Have Some Explaining To Do [link to read.bi]

the harder they hammer it, the more desperate they are.

use your brain, why would Barry's hometown try to register (read confiscate) people's useless barbaric rocks

Oh I'll sell alright.....when I think it's worth it to do so. I don't gamble, I make an investment in silver and sell it when It makes me 5x my money invested.

If I was to gamble then I would have a broker do it and set it at 2x my money. I only deal physical so no need for a middle man.

I've been buying it since it was at $4.00/oz I was taught young to invest in physical. Not going to sell till I think it's worth it....and if I never do sell it, then I'll just pass it on to my kid! Never thought I was going to become a millionaire doing it....That's what the day job is for! :)