Re: Gold falls back to $1,400, breaking six-session rally
in response to
by
posted on
Feb 22, 2011 07:04PM
New Discovery Resulting in a 20KM Mineralized Gold Belt
"Bullion declined as world stocks fell sharply as revolt in Libya lifted crude prices to 30-month highs and rekindled fears of inflation and slower global growth if the unrest lingers. Agricultural commodities led by grains also fell broadly.
Investors also swapped riskier assets for safe-haven U.S. Treasury bonds, whose prices rose Tuesday. Gold has been used as a speculative play as traders are betting rising political tensions across the Arab world will benefit gold."
What a joke. Who was it that said the market is always right. That's also funny in that the market is dominated by human emotion and it's seldom right. In case some of you haven't noticed, it's not just this stock that took a hit today. A good number of solid stocks have taken a dumper in no relation to today's general market. A load of them did from those running to oil and..... US Treasury Bonds?. Surely they jest! A dying currency and people are running to it? It's called short term grabbing at the flavour of the moment. Now why would oil be important if there is no commerce, no one travelling to the job, delivering product, manufacturing product. Why would we need oil? Oh ya to heat etc. but that surely wouldn't be responsible for the big jump in price by itself. And gold down too? That's really funny also because of the demise of fiat currencies, particularly US, just another example of hopscotching black boxes from one flavoured stock to another with the mind to get back into gold et al before they zip up again. Price of food commodities down because the others are down?...... the laughing just continues because the hungry mouths and demand for food haven't gone away. How do you spell manipulation folks? QE1 and 2 money that went to banks but never came out in people's hands somehow made it into the market with tremendous power to make the markets and key sectors do what it wants, including attempts to prop up the USD. Call me overly suspicious folks but, aside from the thinly traded upwardly mobile markets needing a haircut, I suspect that their is a lot of actors involved in pushing Joe Investor one way then another as long as they gain advantage from it.