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Where is RB?

Kleenex firmly locked away today?

http://www.bloomberg.com/news/2011-02-04/gold-declines-as-economic-recovery-curbs-investment-demand-silver-falls.html

Gold Declines as Economic Recovery Curbs Investment Demand; Silver Falls
Gold declined in London, trimming the first weekly gain this year, on expectation that an economic recovery will curb demand for the metal as an alternative investment.
A report yesterday showed U.S. service industries grew, and economists expect a Labor Department report today to show employers added the most jobs in three months in January. Global equities this week climbed to the highest level in more than two years. Gold yesterday reached a two-week high of $1,355.93 an ounce as the mounting conflict in the Middle East boosted demand for a protection of wealth.

GOLD 02/04/2011 07:16 1349.50 -6.10

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GOLD

02/04/2011

11:32

1346.10

-9.50

-0.70%

Down days are just starting to outnumbefr the updays. So long as gold can hold above $1320 it isn't ready to crash yet.

If the buyers get frustrated at lack of movement and see stocks as a better bet there coulod be a slight drop but nothing to fear as the rush for the exist will not begin until the big traders decide there is mofre money elsehwre. Its all pyschology driven and seeing who is going to panic first.

Silver seems to be doing a little better--I have silver mostly in uncirculated Morgans (no cc's sad to say) but not enough to change my lifeplans! Nice to look at though.

Edit:

GOLD

02/04/2011

11:37

1348.00

-7.60

-0.56%

Edited by Realistbear
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The part our resident troll RB fails to get...

http://www.zerohedge.com/article/exclusive-interview-eric-sprott

Exclusive: Interview With Eric Sprott

8. Your views on precious metals are well known. If there is a collapse in the USD and/or fiat currencies in general, how will gold be valued?

A: They’d likely be valued in terms of other goods, rather than in units of fiat currency. Investors won’t care what an ounce is worth in USD if the USD can’t be exchanged for anything. They’ll want to know what an ounce is worth in water, or food, anything consumable.

I think most mainstream investors still struggle to appreciate the changes that have occurred in precious metals market since 2008. Gold is reverting back into a world reserve currency – it’s so clearly visible now. It’s one of the only asset classes that has ‘worked’ for investors and savers. And yet there remains this large contingent who continue to question its legitimacy as an asset class.

One of the great struggles investors continue to have with gold, particularly in the US, is in embracing it as a monetary alternative. There are money managers and pension trustees who refuse to view gold as a store of value. They don’t understand the value argument. It’s a peculiar thing. If we lived in a different environment today, I’d understand their hesitance to embrace gold, but after everything we’ve gone through, and after acknowledging the fiscal reality of the Western powers, I just don’t understand why anyone would question the benefits of a hard currency. We need a hard currency today for SAVERS. Gold is for savers. We all need some sort of risk-free return vehicle in a properly functioning financial system. Bonds pay a negative real return today, so we’re forced to up our risk tolerance into equities or high-yield. You can’t save capital in cash in this environment – it’s as simple as that. You have to find another asset class to perform that function, and precious metals are once again reverting to their traditional monetary status to meet that need.

You can add property to that.

Good luck getting Gold much cheaper than it is now. You have failed once, do you get another chance....I doubt it!

BTW, I still prefer Silver over Gold...for now.

;)

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The part our resident troll RB fails to get...

http://www.zerohedge.com/article/exclusive-interview-eric-sprott

Exclusive: Interview With Eric Sprott

You can add property to that.

Good luck getting Gold much cheaper than it is now. You have failed once, do you get another chance....I doubt it!

BTW, I still prefer Silver over Gold...for now.

;)

Yep, wished i listened / learned more about the stuff instead of concentrating on a property crash.... better late than never.

One day an once of gold might be 50% down on a property... or more :P

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