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Gold: The Strongest Decline In 93 Years

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The price for a troy ounce of gold falls on Wednesday morning and continue atone about four percent. With $ 1224 Gold traded as deep as the last time in September 2010. Also silver sags significantly. The price of an ounce of the metal sister falls more than 55 percent and less than 19 dollars.
 
With this latest decrease of about 2 percent gold is now threatening an almost historically bad quarterly results. The decline of 22 percent from April to June corresponds to the worst three-month performance since 1920. Since the beginning of the year the price of gold has lost 25 percent, the silver , the deficit totaled even to 37 percent.
 
I knew gold was declining but the most since 1920!?   Thats big news, I don’t know what it means in terms of the effects it has or the reflection it has on the economy but I thought people were still buying gold.  It explains why I haven’t been seeing any cash for gold commercials lately.  It seems the gold rush is dead.  Silver is also down big time.  If anyone can comment below and tell me and the readers why you think Gold is in steep decline and it what it means, I would appreciate it and im sure the readers would too.  Im no expert on precious metals and a 10 minute google search isn’t going to fix that.  -Mort



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    Total 14 comments
    • Boxed in Freight

      Is the (_!_)Pasture $Profit Lindsey Williams a disinformation plant for the NWO to destablize Christians? I don’t know, but he is sure wrong a lot. :lol: :lol: :lol:

    • ElOregonian

      Mort, you have to understand that this is a coordinated effort by central banks to prop up fiat money and to steal wealth from holders of precious meals. If the banksters can scare precious metal holders from their assets (i.e. Gold and Silver, Which by the way is true wealth) the lying, cheating, thieves can steal it from you for very little cost.

      The only way they can accomplish that is to dump tonnes and tonnes of paper gold and silver (Derivatives), which has no material value except that it was a banker concocted scheme in order to leverage their ability to manipulate the markets, and of course tilt i to their favor. Look into the massive tonnes of paper is being sold into this decline, it will astound you.

      I stopped playing he game long ago and now play it as a long term investment, or true wealth preservation. Look, I only deal in physical items such as precious metals and never in paper instruments because of the ability of the counter-party risk of losing your investment (i.e. MF Global, Cyprus etc.) I STILL have the same amount of PM’s before this decline so I’m not worried because it is a long view of wealth retention and not a speculator’s one.

      Now, I just view it as a “Summer Sale” and try and pick up what I can at these discounted prices. I’ve become the hunter, and these manipulator’s, the prey.

      It’s all in how you view the situation. Mort.

      • crabby

        summer red tag sale.. you got that right.. especially silver.. you can buy 65 oz of the stuff to 1 oz of gold..

      • Anonymous

        I don’t agree with you all the time, but this is an awesome post. I’ve been thinking of doing the same thing.

      • Miss Drone-WordDropper

        Dear Mort,
        What is there to understand?
        10,000+ people lined up in china this past week waiting to buy gold!
        BRICS (Brazil, Russia, Iran, China, South Africa) is setting up their OWN money network, AND THE united states of TERROR FIAT MONEY IS NOT INVITED!
        NEITHER ARE ALL THE OTHER ALPHABET-SOUP WESTERN-FINANCIAL-FRAUD ‘AGENCIES (i.e. imf).
        BRICS members China and Russia continue to purchases METRIC TONS OF GOLD.

        So, Mort,

        What do you trust as ‘money’?

        GOLD AND SILVER (used as a means of mutually satisfying both Buyer and Seller as an ‘exchange’ medium to compensate the seller for goods or services), used for over 5,000 years on planet HELL as money?

        OR,
        Would you rather believe the LIARS AND DECEIVERS OF THE united states of FINANCIAL FRAUD & TERROR,
        AND THEIR ‘ISSUED FROM NOTHING’, FIAT MADE PIECES OF PAPER?
        Who ‘REPORT’ to you that you have ‘LOST 25% OF YOUR BUYING VALUE THIS YEAR IF YOU ARE HOLDING GOLD’?

        Mort, this choice is SO SIMPLE.
        Are you “FOR REAL”?????????????????????????????????????

        What will be around after the FED has collapsed and ‘dollars’ are NOT accepted by business people as ‘legal tender’?
        GOLD AND SILVER.

    • Warren

      Gold is just another commodity but with its own mystique. It’s in its biggest decline in 90 years because it was in its biggest bubble for 90 years. The mystique – put another way, speculative content of price – far and away outpaced its intrinsic value for things like wires in integrated circuits and tooth fillings. The decline was overdue.

      • Syrin

        I don’t think you could be more wrong if you tried.

      • Warren

        Ten years ago a lot of folks attached an absurd mystique to real estate. They bid the price up thinking it would never go down. The speculative content of price way outpaced the intrinsic value of real estate; that is, a place to live or conduct business. The gold bubble is similar in many ways. How soon people forget.

        • Syrin

          The differences are so enormous, they wouldn’t fit here. Answer this basic question. How much real estate did the central banks acquire? Care to guess what the central banks are doing right now with gold?

        • Warren

          I grant that there are many differences. I’m pointing out the similarities and there are many.

          ” How much real estate did the central banks acquire?” HA!

          Most real estate is bought with a mortgage. The bank has a lien. Who owns the property when the buyer walks away because the mortgage is underwater? The BANK!! During the collapse of the real estate bubble the banks in effect bought billions (trillions?) of dollars of real estate through foreclosure which then went on their books as assets that were valued way above market value. To this day the banks are still holding much of this real estate. Here in Phoenix the banks are still holding housing, that they own through foreclosure, off the market so that they don’t totally trash the value of real estate and end up with even more foreclosed property.

    • Syrin

      This is an illegal and coordinated attack on gold and silver prices by central banks. Why? Because physical precious metals are the real alternative to their fiat currencies. Most of the gold and silver that was bought over the past several years was actually just a piece of paper saying you owned an ounce of gold somewhere. The problem is 99 other people also had a piece of paper saying the same thing, all for the same single ounce of gold. It was fake, an illusion. Now, banks are wholesale dumping off their paper holdings, BUT at the same time are buying PHYSICAL gold and silver by the literal ton. It’s a piece of beauty for them as they dump the paper, drive the price down by flooding the market, then stock up on the physical metal where the true value is. Once the paper dumping stops, and once central banks think they have “enough”, market forces will be allowed to come back into play, and the price of gold and silver will go parabolic. Almost all of this was predicted months if not years ago. PLUS, the central banks also forced speculators out of the market, and forced weak kneed investors into dumping their physical which they will seriously regret down the road. There is also speculation that the US dollar will be replaced as the world’s reserve currency and be replaced by some new international currency backed by gold. If that does happen, the dollar will be worth the same price as toilet paper, and gold will be worth upwards of $50,000 an ounce.

      • Anonymous

        Syrin, you nailed it !!! Excellent summary ! Thank you.

    • Anonymous

      Drop prices, scare out investors, buy low, watch it rise with most on the sideline.- The rich get more rich for a reason.

    • Banderman

      Pure corruption, manipulation, and crooks fixing these prices. Free market forces causing the drop in precious metal prices? Don’t make me laugh in my soup.

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