Gold price hits 3-year low

[News Bandit]

Gold fell to its lowest price in three years after US Federal Reserve chairman Ben Bernanke said stimulus measures might be reduced this year as the US economy recovers.

 

View the full article

[enterprise]

Time to buy

[Luv2Phuket]

I have gotten KILLED the last 2 days -- the US stock market dropped over 500 points and gold -- which I bought as a defensive hedge in case the market fell -- has fallen an even bigger %.

 

In 2 days, I have lost the equivalent of a 2 week trip to Pattaya....when I put it that way, I get REALLY pissed off about it!

 

On the plus side, the USD has climbed all the way to 31.18 (according to Xe).

[lpcustom69]

I'm increasing positions in physical gold and silver. Always some put away.

[how122255]

I have gotten KILLED the last 2 days -- the US stock market dropped over 500 points and gold -- which I bought as a defensive hedge in case the market fell -- has fallen an even bigger %.

 

In 2 days, I have lost the equivalent of a 2 week trip to Pattaya....when I put it that way, I get REALLY pissed off about it!

 

On the plus side, the USD has climbed all the way to 31.18 (according to Xe).

I also bought into bull-crap  about Gold being a 'safe-haven'  in case the markets fell...All the markets are totally manipulated  and if you lucky your on the winning side....Never think it is anything but gambling.

All your time spent in research and doing your 'homework'  doesn't help you when the big-boys 'Push'  the buttons. 

[robinpattaya]

I have gotten KILLED the last 2 days -- the US stock market dropped over 500 points and gold -- which I bought as a defensive hedge in case the market fell -- has fallen an even bigger %.

 

In 2 days, I have lost the equivalent of a 2 week trip to Pattaya....when I put it that way, I get REALLY pissed off about it!

 

On the plus side, the USD has climbed all the way to 31.18 (according to Xe).

 

You haven't lost, you only loose if you are stupid enough to sell at the bottom of a market downturn, hold tight & it will recover.

Gold is another issue, as the market improves, the hedge effect of gold isn't required & the demand, read price, drops.

[fasteddie]

The reaction is right, though. Isn't gold supposed to rise in a market that takes a dive. And especially when there is fear of inflation. Paul Volker said in his book he wished he had used the Fed to drive down gold prices. I guess they can... and they do... now!

[graduateapply]

Gold fell to its lowest price in three years after US Federal Reserve chairman Ben Bernanke said stimulus measures might be reduced this year as the US economy recovers.

 

View the full article

 

Yeah markets have plumeted after the fed anounched that QE might slow down, and also the bad news in China. Gold would not respond well to this.

 

I assume that gold prices will fall substansially this year.. but thats just my own prediction.