Price of Gold falling like a rock

[Oakview2]

Something historical driving the price down. I kinda thought as the election go closer, stocks would take a beating and gold might go up, which it did at the first of the month, but dropped to 1708 per oz this am?

 

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[Jason in Enid]

Oops, I was wrong. Sorry about that.

 

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[Aurabbit79er]

OK i think you all need to juts hang on.
Look at this chart.


This is a correction and the normal progress in hot commodities.

 

[loby]

Thank you Jason in Enid ....

 

[Ammonhotep]

Gold is impacted by speculative investing, just like everything else. I'm a trained sociologist, so trust me (or not) when I say that the social patterns of investing will change as knowledge of social investment patterns change. If you can stay ahead of the curve (perceive the patterns before others) then you'll come out ahead. But for every dollar you make with speculative investments someone else will lose a dollar.

Granted, because of its use value gold will never become as volatile as stocks (which appear to move with near zero correlation to actual company value). Only if its use value increases does it remain a wise investment.

As many have said, you can't eat gold if/when a real crisis hits.

 

[Hoser John]

Gold goes up and gold goes down. The sun comes up and the sun goes down. People are born and then your dying from that second on. Gold is up this past year in the $1,000 an oz range. Hello as that's immense and every market be it mineral,commodity or corporations will have corrections to stabilize rocketing rises. The money changers will always pontificate,predicate, and pick your pocket to the live long day. Mine smart,sell high and stash for your future....and benefit greatly all the days left in your short span on this blue marble-John

 

[pat-tekker-cat]

Ok, I got another one, besides beans, bullets, and bullion, or
god, guns, and gold, one can also say,
Allaha, amaranth, and ammo!

(that was Allaha, don't be jumping down my throat if you see it as allah, learn your Aramaic)

Most of my gold was obtained when it was anywhere between $300 to $800 and oz., so I already know there is profit.
HH all.......