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China Blamed For Gold Sell Off

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http://finance.yahoo.com/news/Gold-Prices-Get-Slaughtered-tsmf-3568651767.html?x=0&sec=topStories&pos=6&asset=&ccode=

By Alix Steel, On Friday November 12, 2010, 2:25 pm EST

NEW YORK (TheStreet) -- Gold prices tanked by double digits Friday with the action driven by a combination of technical selling and rumors that China might raise interest rates....../

Jon Nadler, senior analyst at Kitco.com, a gold believer but with a more conservative outlook, believes that without a real crisis gold prices are due for a deeper correction..../

"Looks like more position sellers from ETFs are starting to appear," says George Gero, senior vice president at RBC Wealth Management "in previous days they were buyers while futures were being sold."

Nadler believes that gold's "parabolic rise" will only balloon into a real deep correction when it comes and that it could be 60% to 80% of current prices. "It will look like a cave in ... the trend change will be something to watch." A 60% correction would leave prices between $800-$900, which is what some analysts believe the real price of gold is if you take speculation out of the market..../

Forum bear "Realistbear" called a medium term top at $1347 which, although broken in recent days, may prove to be fairly accurate if the average of recent tops is taken into account. Comex hav

TBH, these kinds of drops usually trun out to be profit taking with a return to tredn witnin a day or so. Unless, of course, the bull run has ended and the gold bulls are right about a deep correction.

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Jon Nadler, senior analyst at Kitco.com, a gold believer but with a more conservative outlook, believes that without a real crisis gold prices are due for a deeper correction..../

That's it, gold is the ultimate hedge against the ultimate economic event - the end of fiat currency. Other than that it is just another investment bus for the big investors to jump on and off when they think there's a buck to be made. Sleep well 100% holding gold bugs :rolleyes:

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If Nadler is correct and gold corrects 80% that will leave it at $273 which is even more bearish than me.

I suppose it could drop that hard if past history is anything to go by.

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If Nadler is correct and gold corrects 80% that will leave it at $273 which is even more bearish than me.

I suppose it could drop that hard if past history is anything to go by.

What effect would a gold price crash of this magnitude have on the economy?

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Excellent. Hopefully we're in for a good sized correction.

Then we can resume the rise to $1650 and then on to $5000+.

Don't pay any attention to Nadler. As far as I can make out he's been bearish for the last 6-7yrs! lol.

Edited by Errol

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Excellent. Hopefully we're in for a good sized correction.

Then we can resume the rise to $1650 and then on to $5000+.

Don't pay any attention to Nadler. As far as I can make out he's been bearish for the last 6-7yrs! lol.

.......and then you woke up.

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Forum bear "Realistbear" called a medium term top at $1347 which, although broken in recent days, may prove to be fairly accurate if the average of recent tops is taken into account.

:lol:

It that what's called 'talking your book'?

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Guest spp

Nadler :rolleyes:

http://www.resourceinvestor.com/News/2006/11/Pages/Jon-Nadler-Gets-In-Depth-on-Gold.aspx"]

JON NADLER: Our year-end target is still moderate, with an average $630 price as the 2006 target (though it still implies we could get to $690 next month) and $665 as the average for 2007. Then, a scale-back of averages from a projected $725 to $700 for 2008, and from $767 to $751 for 2009. But for 2010, we (as Credit Suisse) keep the forecast at $800 average.

Best we get that pullback soon.

Another short term bottom call from RB?

Edited by spp

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Nadler believes that gold's "parabolic rise" will only balloon into a real deep correction when it comes and that it could be 60% to 80% of current prices. "It will look like a cave in ... the trend change will be something to watch." A 60% correction would leave prices between $800-$900,

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off

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Geddit?

If one has to go through each of your posts and threads with a fine tooth comb and cross check articles and links to industry figures to figure out what's genuine and what's contrived then perhaps one ought not waste one's time.

There's no reason to make this stuff up - it's correcting.

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Nadler has done nothing but talk his book down for 10 years, don't you find that a little odd?

Gold will bounce quickly from here.

If Nadler is correct and gold corrects 80% that will leave it at $273 which is even more bearish than me.

I suppose it could drop that hard if past history is anything to go by.

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oooh 80% corrction. That makes sovereigns about £40, back up the truck.

Gosh yes! If anything were to crash the gold price that hard, I'd take the day off work to nip into London with every penny I could lay my hands on.

*Ahem* "Your pigs are on the runway, sir. Shall I ask them to start engines ready for take off?"

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Gosh yes! If anything were to crash the gold price that hard, I'd take the day off work to nip into London with every penny I could lay my hands on.

*Ahem* "Your pigs are on the runway, sir. Shall I ask them to start engines ready for take off?"

Don't let them fly, sell them for bacon, you could buy more gold then!!!

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  • 150 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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