Investing in Gold: Here's What to Do Now

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Monday's drop in gold prices was the largest one-day plunge since February 1983 – which led many of those investing in gold to bail on the yellow metal.

Gold prices tumbled $140.40, or 9.4%, to $1360.60 an ounce. This brought the two-day decline to $203.70, or 13%.

On Friday, we outlined recent factors driving gold's price plunge:

  • The Federal Open Market Committee (FOMC) meeting minutes that came out last week suggested the central bank may start scaling back its monetary stimulus measures later this year, reducing inflationary pressures.
  • Goldman Sachs Group Inc. (NYSE: GS) last week cut its 2013 average gold forecast, for the second time, to $1,545 from $1,610. Investors like to dump the metal after the release of bearish research.

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  1. maurice rothman | April 17, 2013

    Gentlemen:

    Its obvious to me that "big guys" "collaborating, working together influence "all markets" stealing the "hard earned" money of small investors who panic, get out instead of "holding the line"; this has been going on for hundreds of years and will continue to go on.

    They are thieves of course, in a socalled legitimate business, which is no more legitimate than any crooked scheme out there.

    The smart people, dont panic, know damn well that what goes down, always goes up, but these people are hard to find; dumb ones proliferate on our crooked schemed planet. Why? ask the folks that "once a patsy, always a patsy, a sucker born every minute, Barnums favorite saying.

    Apparently, there are not too many "bright people" out there.

    Everything is "fixed" like the socalled democratic country called India, needs "fixers" in their political system to operate. Who are these fixers, the same as we need "bag men" mainly crooked lawyers handling politicians "cut"

    Honesty? what's that? Does not exist, cannot exist, prevails not!

    What's to be? Who knows even the socalled big shots dont? one thing for sure what will be, will be, big shots or no big shots; the greatest depression is waiting to "hatch" making 1929 look like nothing in comparison!

    why? give a "crook" enough rope and eventually he/she will hang himself, and that goes for all of the socalled manipulators out there; their days are numbered of course –

    solution: when a body has been abused with rotten food, alcohol, prescription poisonous drugs, cigarettes, food that is now grown by purveyors of death, the chemical companies, what more an you expect; add that to our corrupt political system,

    result? what is now happening to gold- wiping out the only asset that is really legitimate; paper money is printed, gold is mined, which would you pick? paper? why?

    mrothman

  2. fallingman | April 17, 2013

    Shah,

    You know it's the Fed's work, via JPM, as well as I do. The Creature must destroy its competition…or at least beat it back. Hard to destroy real money, especially at a time when they're conjuring so much of the phony variety.

    The Cyprus gold sale contagion story and the Fed minutes were simply cover for the raid.

  3. JAMES | April 17, 2013

    Most of the sell-off has been in paper, probably due to a margin call and selling short. This sort of manipulation has been going on continually. The rise and fall in prices is being deliberately manipulated to shake speculators out of the market and drive down the price of gold as the Fed works frantically to save a foundering U.S. dollar.

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