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  1. #1
    us
    Sep 2009
    Salem Oregon
    ACE 250
    548
    94 times
    All Types Of Treasure Hunting

    Why has value of gold, silver, platinum etc price gone down so far the past days

    Is this normal? Will they go back up? Sorry I admit I am a newbie..
    JOIN BOLO THRIFTING GROUP - A group on facebook that just shares items to (be on look out) for to resell for profit https://www.facebook.com/groups/BOLOThrifting/

  2. #2
    us
    Dec 2005
    Eugene, Oregon
    Fisher CZ5, White's GM VSat
    4,093
    85 times

    Re: Why has value of gold, silver, platinum etc price gone down so far the past days

    The IMF announced they would sell 403 tons of gold. That'll do it for a bit.

  3. #3
    us
    Aug 2009
    176

    Re: Why has value of gold, silver, platinum etc price gone down so far the past days

    Quote Originally Posted by Jeffro
    The IMF announced they would sell 403 tons of gold. That'll do it for a bit. The IMF gold was not sold into the open market! The IMF gold was sold to the government of China at a good discount. The IMF gold was placed into China's gold reserve.

  4. #4

    Apr 2008
    3,205
    183 times

    Re: Why has value of gold, silver, platinum etc price gone down so far the past days

    Quote Originally Posted by goldsworthy
    Quote Originally Posted by Jeffro
    The IMF announced they would sell 403 tons of gold. That'll do it for a bit. The IMF gold was not sold into the open market! The IMF gold was sold to the government of China at a good discount. The IMF gold was placed into China's gold reserve.
    Do you have any links that say China bought that gold? I have read articles that speculate China will buy it, but have not seen anything that says it has been verified.

    Jim
    R.I.P. Rich Hartford

  5. #5

    Feb 2007
    The Lone Star State
    ace 250/ Minelab SE Pro
    639
    11 times

    Re: Why has value of gold, silver, platinum etc price gone down so far the past days

    Huh? I thought China was the worlds number #1 producer of Gold. Why would they buy it?
    CRH Totals
    Wheats 247
    Buffalo 6
    War Nic 6
    Merc 0
    Rosie 9
    Quarter
    Walking 15
    Franklin 27
    90% 82
    40% 501
    Proofs:24
    Boxes searched: 193
    Skunks:71

  6. #6

    Feb 2007
    The Lone Star State
    ace 250/ Minelab SE Pro
    639
    11 times

    Re: Why has value of gold, silver, platinum etc price gone down so far the past days

    Well never mind. Now that I look at the other side of my question I see. I would buy it too if I was the world's #1 producer to make the price go up.....
    CRH Totals
    Wheats 247
    Buffalo 6
    War Nic 6
    Merc 0
    Rosie 9
    Quarter
    Walking 15
    Franklin 27
    90% 82
    40% 501
    Proofs:24
    Boxes searched: 193
    Skunks:71

  7. #7
    us
    Dec 2005
    Eugene, Oregon
    Fisher CZ5, White's GM VSat
    4,093
    85 times

    Re: Why has value of gold, silver, platinum etc price gone down so far the past days

    I always figured it was still S.Africa, but I see I was wrong- you're right China is now the leading producer of gold. Most likely the pricipal user as well. I found this site with charts- http://www.goldsheetlinks.com/production.htm

  8. #8
    us
    Sea'mus King of the Leprechauns

    Jan 2009
    Found under a rock, in Washington State.
    Garrett Scorpion, Garrett pro pointer
    1,158
    5 times

    Re: Why has value of gold, silver, platinum etc price gone down so far the past days

    If it goes down then I'll buy before it goes back up. The dollar will fail to exist someday and I will be holding on to precious metals at that time. The back of the all might dollar says "In God We Trust" all others pay cash. Precious metals will have value when the dollar fails.

    Don't get caught with your fanny hanging out in the wind. Have something of value in your possession, precious metals, real estate, economic survival skills.
    Sea'mus King of the Leprechauns

  9. #9
    us
    Aug 2009
    176

    Re: Why has value of gold, silver, platinum etc price gone down so far the past days

    Has it realy "gone down?" Metal Bid Ask
    Gold $1,056.50 $1,057.50 13.10
    Silver $17.77 $17.82 0.31
    Platinum $1,336.00 $1,346.00 19.30
    Palladium $315.00 $320.00 5.00

    Updated:10/8/2009 4:01:44 AM CST

  10. #10
    us
    da book worm--researcher

    Feb 2007
    callahan,fl
    delta 4000 / ace 250 - used BH and many others too
    14,533
    774 times
    Honorable Mentions (1)

    Re: Why has value of gold, silver, platinum etc price gone down so far the past days

    china is turning its US treasury bonds it holds paid off by near worthless greenbacks into gold flooding the world exchange market with US dollars which will lessen the demand for us money on the world exchange markets --driving the dollar down and gold up --its fiscal warfare 101 --asian motto --"bussiness is WAR"

  11. #11
    us
    Aug 2009
    176

    Re: Why has value of gold, silver, platinum etc price gone down so far the past days

    My friends and family thought I was nuts for taking 45% of my life savings and buying gold and silver (THEY ARNT LAUGHING ANYMORE!). The trick now is to sell it all when the GOLD MANIA price top occurs. Then its off on a long and restful Princes cruise! I figure I will have to go on that cruise to make it hard for my family and friends to contact me to borrow money! LOL

  12. #12
    us
    Aug 2009
    176

    Re: Why has value of gold, silver, platinum etc price gone down so far the past days

    Tonight on eBay a number of the auctions I have been following have been bid up to foolish levels. Common 10 ounce silver bars that usually sell about for $1 an ounce over spot selling for a $2.50 premium over spot. Common post 1982 mint $5 gold commemoratives that usually sell for 4%-6% over melt were selling for up to 15% over melt. Perhaps some new buyers are rushing out to get their PMs. >>I have seen some exuberant bidding tonight. A 1986 $5 gold commemorative (Statue of Liberty) worth about $255 melt sold for $304.45 ($298.45 plus $6 shipping). A few other common $5 gold commemoratives were bid way beyond normal premiums. Perhaps some folks really had to get their first gold coin.
    I have been checking the news acrossed the country and the gold price rise is showing up in them BIG TIME! (THE MAINIA BEGINS)

 

 

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