Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
China hopes it goes down more. Rake it in. There is nothing wrong with the picture you just think you are smarter than the chinese.
In other words you can't answer the question.
So, I'll answer it for you - Chinese demand (whatever it is) is not NEARLY enough to make up for the huge lack of demand elsewhere.
Here'as NEW article from Reuters:
"SINGAPORE, June 25 (Reuters) - Gold's plunge to three-year lows last week is drawing a muted response from Asian consumers and not a repeat of the buying frenzy seen in April as India's curbs on trade of the precious metal and renewed concerns about China's growth dent demand.
India and China are the world's two top gold consumers, so their retail appetite plays a key role in international gold prices. A drop in gold prices in April to a then two-year low unleashed years of pent-up demand, triggering a wave of buying of coins and jewelry across Asia.
With much of that demand sated, an even deeper price fall this month has failed to draw consumers, gold traders said on Tuesday....
...It is unlikely the demand in China will be able to match the lost demand in India," said a trader in Hong Kong. "I highly doubt the markets will hold only with the support of China."
Obviously, you're watching too much TV, and have no grasp at all of economics, because you would have been more accurate had you stated that the moon is made of cream cheese, with it's craters filled with onion dip.
First, there is no such thing as a "conservative" among the gangsters operating the FED and Wall Street. This gaggle of crooks make the Chicago and New York mafia look like teenage shoplifters by comparison. They are running what can only be described as the most egregious financial fraud in the history of humanity, sucking the life out of not just the US economy, but the global economy too.
The FED are the US branch of a much larger cabal of private banker gangsters who own and operate the World Bank, IMF, BIS, and all of the other major financial institutions who control the global economy. Here in the US, the FED was created and given legal license to counterfeit money, while their minions on Wall Street use this counterfeit currency to buy up tangible assets, leaving the taxpayers (you and me) the freaking bill. The major brokerage houses front run trading from the outside, while they manipulate the value of everything up or down as it suits their current objectives. The boom and bust cycles which we're told are simply the natural phenomenon of economics is anything but natural. This is economic "farming" ... if you look at money (liquidity) as water ... and the production as vegetables. The gangsters turn on the flow of money (water) to the markets they wish to grow and prosper, and those markets then grow real nice fields of abundant vegetables. Then later, at harvest time, the flow of money is restricted or cut off ... the economy goes into "recession", and the gangsters consolidate their massive wealth by buying up all of that new growth, pennies on the dollar, with more counterfeit money created out of thin air.
All the while, the gangsters on Wall Street are busy creating mechanisms to extract wealth in massive quantities through means like the creation and selling of hundreds of trillions of dollars of worthless derivatives and credit default swaps, just to name a couple, in what can only be viewed as one of the most sophisticated and complex ponzi-pyramid schemes ever created. And that is why such other fraudulent schemes like "Quantitative Easing" is needed to keep the fraud going ..... all pyramid schemes rely on the next sucker to bring in more suckers, who in turn must also bring in more new suckers just to break even, as the top of the pyramid counts their gains. A constant flow of new victims of the pyramid scheme must be found to keep the scheme going ... in this case ... new money created by the FED, and injected into the scheme which will be added to the American Taxpayer's tab, and foisted on the future taxpayers not yet born.
To say that the system is corrupt to the core would be like saying the surface of the Sun is warm. This system is just a gigantic wealth pump .... gigantic hoses connected to all of the main arteries of our economic body, with pumps pumping 24/7/365. The shear idiocy of the public knows no boundary apparently .... because when you can convince the public to willingly hand Trillions of free dollars to Billionaire bankers, and think that is going to be of any benefit to the common people .... well ... you have an endless supply of "suckers", and never have to worry about your pyramid scheme running out of fresh new money, until enough of this counterfeit currency is created that eventually causes all of it to become worthless.
That day is coming in the not too distant future .... and what you will see is that the gangsters will then own everything of tangible value, which they purchased with counterfeit money. That means, they will own all of the real stuff ... and we'll be standing in a sea of debt, with worthless paper in our pockets. But not to worry ... they'll make sure to allow you to work for them in order to receive your food stamps, and housing stipends .... you'll need only to behave, and do as you are told. Of course, we've seen this before, just not on this scale. What is being created is just one big happy global plantation, with the Masters taking care of us poor global slaves.
That is some damn good analogy of the gangster situation at hand. And this is exactly what is happening, but too many ignorant people don't realiaze it.
Gee, TWO WEEKS AGO - BEFORE this last crash.
How come they didn't stop the price crash?
Again, it's just pumped up nonsense from the gold mongers.
You can post all that kind of garbage you want, the ACTUAL PRICE of gold says a totally different story.
All you are doing is the same stupid sh*t you always do - stick your head in the sand (or actually someplace far darker and far more smelly) when you just don't like what the FACTS say. The FACTS are that gold prices are in collapse - and that WOULDN'T be happening IF the Chinese were such a factor in the gold market - so CLEARLY the Chinese impact, whatever it is, is simply not that great.
Ken
Last edited by LordBalfor; 06-28-2013 at 12:29 AM..
Pumpers and dumpers like I said. China will continue to buy gold and so will India. They are in it for the long haul. You just can't accept reality. Rant on.
Pumpers and dumpers like I said. China will continue to buy gold and so will India. They are in it for the long haul. You just can't accept reality. Rant on.
The "long haul" is that that gold prices will likely remain at their lows for twenty years or so.
The "reality" is that that the gold rush is OVER - and gold will likely do what it did the last time it had a major crash after the bubble burst: remain at the bottom for decades. Those low-knowledge Chinese gold buyers can buy all the gold they want, it's not enough to "save" gold. Gold is not returning to it's previous highs. Gold investing - in regards to investing by the general public - is essentially dominated by scam artist type brokerages who overhype the product and push it as a "safe" investment, when in reality, investing in ANY commodity - including gold - is not "safe" at all, but rather, is EXTREMELY risky.
As I've said many times on this board, I've seen this EXACT same scenario play out back in the late 70's and early 80's it's following the same path now as it did then, with small-time mom and pop investors getting sucked in to the whole "gold is the only real money", "priced in gold, everything costs the same today as it did decades ago", "gold has been money for thousands of years, therefor gold is the only safe investment", "the US dollar is going to collapse", "we're going to have hyperinflation", "civilization as we know it is coming to an end so you'd better stock up on food, guns and gold" nonsense - and when the dust all settles, having lost a bundle.
Gold CAN be a good investment - as long as you don't buy into all the nonsense hype mentioned above and you remember that as an investor you need to simply ride the wave while it's building and then get the h*ll out before folks realize that all that hype is JUST HYPE and the price collapses. If you insist on believing all that nonsense to the bitter end, it WILL be a BITTER end.
Ken
PS - and as I write this, gold is down ANOTHER 1.65% to around 1,190 so apparently "all those Chinese buyers" are doing a REALLY GOOD JOB propping up gold prices.
Three Reasons Gold Will Go to $800: RBC Strategist
One: Rising Rates Will Crush Gold
Lashinski said that "a large part" of the weakness in gold is due to the Fed's "changing interest rate expectations."
In general, as interest rates rise, traders lose interest in gold, because gold yields nothing. And while the difference between a yield of 0 percent and of 0.53 percent (the low the five-year Treasury made last July) is pretty negligible, the difference between 0 percent and the 5 percent that five-year Treasurys could yield (a level we exceeded in 2006 and 2007) is highly significant.
If the Fed exits the bond market, and yields begin to rise even higher than they have already, gold could look much less worthwhile...
Two: The Fed Will Reduce the Supply of Money
Along with the rise in rates, Lashinski predicted a change in "the supply of dollars," which is "associated with the changing stance of QE in terms of the Fed balance sheet."
A big reason people own gold is to hedge against inflation. And as the Federal Reserve embarked on quantitative easing, many expected inflation to be the result, leading people to buy into gold. Unfortunately for those gold bulls, the massive inflation warned about never came to pass.
As the Fed actually ends the program, Lashinski expects gold's losses to accelerate. And if that exit causes deflation, gold priced in dollars will look like an unbelievably bad place to park money...
Three: Emerging Markets Will Become a Headwind
Emerging markets have provided gold with a significant boost over the past few years, Lashinski said. "The demand from China and from others" has been "one of the primary supports for the gold market."
But emerging markets appear to be weakening. For example, the iShares MSCI Emerging Markets Index has fallen some 14 percent this year.
Those markets, no longer a tailwind, will actually become a headwind, Lashinski said. "The actual growth of the emerging markets space being curtailed also will be mitigant to the price of gold," he added...
Twenty years? At what low? Gold popped. That is the bad thing that happened to gold and yes you can thank QE for part of it but that won't stop China and India from scooping it up at bargain basement prices if that's what you want to call it.
Again I'm not investing in gold. I'm not investing in anything right now. I'll go play the crap table if I want to gamble my money away unless I get some insider info. I'm not buddies with any congressors or Goldman boys though.
Twenty years? At what low? Gold popped. That is the bad thing that happened to gold and yes you can thank QE for part of it but that won't stop China and India from scooping it up at bargain basement prices if that's what you want to call it.
Again I'm not investing in gold. I'm not investing in anything right now. I'll go play the crap table if I want to gamble my money away unless I get some insider info. I'm not buddies with any congressors or Goldman boys though.
My guess is that gold will hover somewhere around around $1,000/ounce for the next decade or so - probably bouncing between $900 and $1,100 - which means that folks who bought early WILL still have made some money, those folks who came in afterwards however will end up take a big bath.
Well, lets see. Does the OP's assertion stand up to the facts?
From 2012 Q4 to 2013 Q1 the U.S economy expanded at a "current dollar" rate of $120 billion. During that same time period the Federal Reserve "injected" $255 billion into the economy.
Will that epoch get smaller with 2013 Q2 GDP?
Quote:
Gross national product Real gross national product -- the goods and services produced by the labor and property supplied by U.S. residents -- increased 1.2 percent in the first quarter, compared with an increase of 0.9 percent in the fourth. GNP includes, and GDP excludes, net receipts of income from the rest of the world, which decreased $17.7 billion in the first quarter after increasing $19.2 billion in the fourth; in the first quarter, receipts decreased $16.3 billion, and payments increased $1.4 billion.
Current-dollar GDP Current-dollar GDP -- the market value of the nation's output of goods and services -- increased 3.1 percent, or $120.0 billion, in the first quarter to a level of $15,984.1 billion. In the fourth quarter, current-dollar GDP increased 1.3 percent, or $53.1 billion.
My guess is that gold will hover somewhere around around $1,000/ounce for the next decade or so - probably bouncing between $900 and $1,100 - which means that folks who bought early WILL still have made some money, those folks who came in afterwards however will end up take a big bath.
Ken
I don't invest money in guesses which is why I'm not investing right now in anything but my mattress. lol
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
