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Gold price will plunge below $1,000 an ounce, bears claim

 
ASX:XAO
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Australia
03/03/2012 03:53 AM
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Gold price will plunge below $1,000 an ounce, bears claim
Gold price will plunge below $1,000 an ounce, bears claim
Sharp falls in the gold price have prompted some bears or pessimists to predict it will plunge below $1,000 (£625) an ounce.

Even specialist dealers, such as GoldCore, talked of “blood in the gold and silver trading pits as leveraged longs got their heads handed to them on a plate”.

Goldcore priced bullion at $1,721 or £1,079 per ounce this morning, compared to yesterday’s fix of $1,788 or £1,121 per ounce. A spokesman said: “The massacre is attributed to a host of different reasons – from month end book squaring to Bernanke’s suggestion that ultra loose monetary policies may soon come to an end.

[link to blogs.telegraph.co.uk]

Last Edited by ASX:XAO on 03/03/2012 03:54 AM
ASX:XAO  (OP)

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Australia
03/03/2012 04:04 AM
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Re: Gold price will plunge below $1,000 an ounce, bears claim
Gold Loses 4.3%; Silver Slides 6.9%
NEW YORK—Gold slumped to a one-month low, and silver fell by almost 7% on Wednesday as investors bet that further monetary stimulus from the Federal Reserve wasn't near after comments from Fed Chairman Ben Bernanke.

[link to online.wsj.com]
Space_Ace

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03/03/2012 04:08 AM
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Re: Gold price will plunge below $1,000 an ounce, bears claim
If PM drops this far, I am buying a bunch of silver and those with more money will buy tons of silver and gold. Supplies will run out before prices get too low. Others will insist on a huge premium for physical metals.
1. Mass arrests of elites are ongoing, so don't worry be happy!
2. Banker resignations are in the hundreds and at that rate, victory by May!
3. NESARA, disclosure, ascension are all possible this year, be open minded!
4. Robogirls that look/act human and artificial wombs will burst the misandry bubble and free men!
Secret Of Secrets

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03/03/2012 04:28 AM
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Re: Gold price will plunge below $1,000 an ounce, bears claim
Gold is up because the US Dollar is worth 1/3 the value...
so it takes more to purchase God

Oil is up because of the lack of dollar value.


Obama says... Print baby Print.

Gold price will plunge below $1,000 an ounce, bears claim
Sharp falls in the gold price have prompted some bears or pessimists to predict it will plunge below $1,000 (£625) an ounce.

Even specialist dealers, such as GoldCore, talked of “blood in the gold and silver trading pits as leveraged longs got their heads handed to them on a plate”.

Goldcore priced bullion at $1,721 or £1,079 per ounce this morning, compared to yesterday’s fix of $1,788 or £1,121 per ounce. A spokesman said: “The massacre is attributed to a host of different reasons – from month end book squaring to Bernanke’s suggestion that ultra loose monetary policies may soon come to an end.

[link to blogs.telegraph.co.uk]
 Quoting: ASX:XAO
HailMother

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India
03/03/2012 04:33 AM
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Re: Gold price will plunge below $1,000 an ounce, bears claim
Gold $1,000/ounce means $100 million mansion or bunglow will cost $5 million only.

I mean to say deflation if Gold price falls.
Anonymous Coward
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Finland
03/03/2012 04:38 AM
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Re: Gold price will plunge below $1,000 an ounce, bears claim
If gold goes below $1000 then silver goes probably below $10. That would be a fantastic buying opportunity!
Anonymous Coward
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Australia
03/03/2012 04:56 AM
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Re: Gold price will plunge below $1,000 an ounce, bears claim
Gold price is well above its lower trenline, so why all the BS?

Unless the price breaks below the lower trendline, the bull market is intact. An opporunity to buy more !!!


Let the market tell you what to do, forget the prophets.
Anonymous Coward
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South Korea
03/03/2012 05:50 AM
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Re: Gold price will plunge below $1,000 an ounce, bears claim
UK Telegraph ? 1doh1
Anonymous Coward
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United States
03/03/2012 05:52 AM
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Re: Gold price will plunge below $1,000 an ounce, bears claim
5a5a5a5a5a5a5a5a5a
Anonymous Coward
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Canada
03/22/2012 12:01 PM
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Re: Gold price will plunge below $1,000 an ounce, bears claim
Gold = by the time you stand to benefit you G(et) OLD





GLP