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Realistbear

Gold: "corrections Tend To Be Vicious And Quick"

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http://story.irishsun.com/p.x/ct/9/id/d8e9...f10b3527f6df38/

Gold's collapse knocks unit

Alison Maltz

Fri, 21 Apr 2006

The rand was weaker and well above the 6.00 per dollar level in early trade on Friday after coming under pressure late on Thursday when the gold price plunged and the euro weakened.
The euro was bid at $1.2275 from $1.2313 late on Thursday and $1.2374 late on Wednesday. Gold, which on Thursday touched a fresh quarter century high of $645.80 a troy ounce, was quoted at $610.78/oz from an overnight close of $613.30/oz.
"As is so often the case in the precious metals,
corrections tend to be vicious and quick
," said Peter Spina, an analyst at GoldSeek.com. "With the major move higher over the past several sessions, the gold market is working off some of the excesses."

We live in treacherous times where the tide can turn in an instant and poverty come in the blink of an eye. The bubbles are bursting everywhere and the Grandaddy of them all is next in line: bloated house prices.

:o

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Guest Riser

http://story.irishsun.com/p.x/ct/9/id/d8e9...f10b3527f6df38/

Gold's collapse knocks unit

Alison Maltz

Fri, 21 Apr 2006

The rand was weaker and well above the 6.00 per dollar level in early trade on Friday after coming under pressure late on Thursday when the gold price plunged and the euro weakened.
The euro was bid at $1.2275 from $1.2313 late on Thursday and $1.2374 late on Wednesday. Gold, which on Thursday touched a fresh quarter century high of $645.80 a troy ounce, was quoted at $610.78/oz from an overnight close of $613.30/oz.
"As is so often the case in the precious metals,
corrections tend to be vicious and quick
," said Peter Spina, an analyst at GoldSeek.com. "With the major move higher over the past several sessions, the gold market is working off some of the excesses."

We live in treacherous times where the tide can turn in an instant and poverty come in the blink of an eye. The bubbles are bursting everywhere and the Grandaddy of them all is next in line: bloated house prices.

:o

It has already been mentioned on another thread that even after last weeks crash in gold it was still 2% up on the week I doubt housing will get off as lightly we should expect inflation adjusted falls of around 40% in the next three years B)

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Gold futures. October down $28.50 at -4.34%

GOLD APR 06 Apr 21 611.20 $ 30.30 -4.72% N/A Chart, More

GC6Q.N GOLD AUG 06 Apr 21 643.70 $ 16.20 +2.58% N/A Chart, More

GC6Z.N GOLD DEC 06 Apr 21 656.00 $ 17.00 +2.66% N/A Chart, More

GC6M.N GOLD JUN 06 Apr 21 638.50 $ 16.50 +2.65% N/A Chart, More

GC6V.N GOLD OCT 06 Apr 20 627.70 $ 28.50 -4.34% N/A Chart, More

If Iran stifles its rants the price might settle below the $600 level?

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Guest Riser

Gold futures. October down $28.50 at -4.34%

GOLD APR 06 Apr 21 611.20 $ 30.30 -4.72% N/A Chart, More

GC6Q.N GOLD AUG 06 Apr 21 643.70 $ 16.20 +2.58% N/A Chart, More

GC6Z.N GOLD DEC 06 Apr 21 656.00 $ 17.00 +2.66% N/A Chart, More

GC6M.N GOLD JUN 06 Apr 21 638.50 $ 16.50 +2.65% N/A Chart, More

GC6V.N GOLD OCT 06 Apr 20 627.70 $ 28.50 -4.34% N/A Chart, More

If Iran stifles its rants the price might settle below the $600 level?

Kitco Live Gold price

Gold peak Apr 20 $645

Current Apr 21 $632.5

Fall from peak = 100 - (632.5/6.45) = -2%

Why the downer on Gold RB go with the flow :)

Edited by Riser

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Kitco Live Gold price

Gold peak Apr 20 $645

Current Apr 21 $632.5

Fall from peak = 100 - (632.5/6.45) = -2%

Why the downer on Gold RB go with the flow :)

Its not that I am against gold--its just one of those investments that can turn sour quicker than a pot of cream in a south facing conservatory on a hot August day. :)

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Gold will go down when the central bankers stop lying about inflation and how much phoney wealth they are shoving into the system.

Edited by OnlyMe

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  • 301 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% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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