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Investing in Coins and Bullion Thread, Gold took a bad beating this morning... in Coin Forums; Dropped down to around 1550 but recovered a bit. It's still down around $53 for the day and down 12.35% ...
  1. #1
    Administrator Jesh's Avatar
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    Gold took a bad beating this morning...

    Dropped down to around 1550 but recovered a bit. It's still down around $53 for the day and down 12.35% in the last 30 days.

    It's pretty rough due to a lot of profit taking, the market taking a beating and people selling gold in order to cover any margin calls. It's a sad fact but true.

    We are still up 23.50% for the year, or a whopping +306.

    This doesn't help either: "The Chicago Mercantile Exchange raised the amount of money traders must pay up front to trade a 100-ounce gold futures contract by 21%, 15.6% for silver. It will now cost $9,450 to buy an initial gold contract and $11,475 to maintain it. "

    Gold Prices Continue in Meltdown - TheStreet

  2. #2
    Member merket ing's Avatar
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    Do you think the price of gold will collapse?

  3. #3
    Member andrewerickson's Avatar
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    It’s a (steep) price correction that gold is going through. The precious metal has held its value for thousands of years and if you see the long term price trend, gold has historically bounced back higher after a sharp decline like the one we see this year.

 

 

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