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Re: Greek Vote Threatens Bailout

By: Decomposed in ROUND | Recommend this post (0)
Tue, 01 Nov 11 9:41 PM | 52 view(s)
Boardmark this board | De's Test Board 		Msg. 36026 of 45651
(This msg. is a reply to 36005 by Decomposed)
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Gold was down $30+ this morning, but is now hardly down at all. The Dow is still down $230.

It seems that I'm not the only one who thought that such a large gold selloff made little sense.




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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months

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The above is a reply to the following message:
Greek Vote Threatens Bailout
By: Decomposed in ROUND
Tue, 01 Nov 11 5:41 PM 		Msg. 36005 of 45651

Gold is down $33 due to concern for the euro, and, on a percentage basis, crude is down twice that.

Oil's fall makes sense. Demand for oil is closely tied to the level of economic activity, and Europe is in a world of trouble. But why is gold down? I can understand Europeans fleeing from euros and buying dollars. But, logically, shouldn't they be buying gold too?

Gold is currently $1,693/oz. I have trouble sounding sincere in calling that a "bargain" - given that it was so much cheaper just couple of years ago. But I do think that the dollar is a ridiculous alternative to euros. Fiat money has failed over and over. The euro failed, so the stupid Europeans are fleeing *only* to the dollar?? Unbelievable.


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