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I think Gold is being manipulated...

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December 03, 2013 – Comments (14) | RELATED TICKERS: GOLD , FOR , SALE

I must admit I'm very surprised gold has been holding steady around the $1200 mark for a while now.

It looks to me like there might be some manipulation going on that's preventing gold from falling further down.

While I fully understand that gold might even start going up one of these days, especially if the stock market continues going down, I do believe that gold will fall down to at least $950 sooner rather than later.

Or who knows, maybe the manipulators will do everything they can to prove me wrong...

14 Comments – Post Your Own

#1) On December 03, 2013 at 7:41 PM, MoneyWorksforMe (< 20) wrote:

Lightbulb come on? Did you just realize the sky was blue as well?

There's no manipulation in the gold market. Go back to being a fool. That kind of thought does not conform here.

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#2) On December 03, 2013 at 8:32 PM, dragonLZ (99.33) wrote:

MWM, I understand completely why you feel the way you do.

I, too, would be mad if I green-thumbed a bunch of PM miners at the worst time possible, and had a blog "Million reason why I LOVE GOLD" in Dec. of 2011 (the worst time possible to fall in love with gold).   

 I know that it doesn't help either that you thought in 2012 gold is coming back (based on your blog post here).

But don't be mad. Just stay positive and remain patient and your time will come too.  Gold has always come back.

Good luck. 

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#3) On December 03, 2013 at 11:32 PM, MoneyWorksforMe (< 20) wrote:

Well done dragon. Your analytical skills are lacking, but I suppose you do show some capability from time to time...

For those of you like Dragon, who are just now figuring out how "the possibility of this market being manipulated" you do not understand that when these metals attain their mania phase, the difference in buying gold at 1800 vs. 1200 or 1500 won't matter a whole lot;  and likewise with silver.

If you must know I never bought at the top. I entered this sector in the summer of 2010. My average costs are MUCH lower than the market tops in both metals, particularly silver, and no I have not sold an ounce. I just continue to average down, and accumulating more. I am in it for the long haul. It will bounce back, of that I am sure. Your assurances mean nothing to me, particularly when you have just figured out the obvious.

I am not mad about gold, seriously. What I am angry about is the amount of ignorance that exists, with everything economics related, and how it is destroying this once great economy and country. And none of you fools can seem to understand why. You wannt to know what should get you angry? This economy is on the precipice of an epic collapse from which it will NEVER fully recover from. A self-inflicted avoidable catastrophe that fools like you will watch dumbfounded as it manifests right before your eyes. Yes, America had its day in the sun, and it is now setting here, and rising elsewhere. But not because of me, it's because of the ignorant majority. Thank yourselves, when you wake up in an America you can no longer recognize.

I don't need your luck. It's you who needs all the luck you can get--keep it for yourself. Let me tell you, this economy is rotten--you just haven't realized it yet. You will be blindsided by this, and you're going to be taken down with it.

Respond if you must. Don't expect to see a reply. See you on the other side. 

Good Luck. 

P.S.

Don't patronize me with your disingenious words of encouragement. Thanks.

P.P.S.

If you were a true American--you would be very angry too. 

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#4) On December 04, 2013 at 12:12 AM, MoneyWorksforMe (< 20) wrote:

Oh and one last piece of advice: Most Long term Precious metal bulls have been extremely accurate regarding the evolution of economic policy/monetary policy and the chain of events we have experienced both domestically and internationally thus far, including this "manipulation conundrum" you speak of.  If you want to look to the future -- see what they're saying. And perhaps ignore their price forecasting regarding the metals. Prepare yourself mentally...you might want to go into it with a strong stomach...

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#5) On December 04, 2013 at 12:13 AM, MoneyWorksforMe (< 20) wrote:

Oh and one last piece of advice: Most Long term Precious metal bulls have been extremely accurate regarding the evolution of economic policy/monetary policy and the chain of events we have experienced both domestically and internationally thus far, including this "manipulation conundrum" you speak of.  If you want to look to the future -- see what they're saying. And perhaps ignore their price forecasting regarding the metals. Prepare yourself mentally...you might want to go into it with a strong stomach...

Adios 

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#6) On December 04, 2013 at 12:13 AM, MoneyWorksforMe (< 20) wrote:

Oh and one last piece of advice: Most Long term Precious metal bulls have been extremely accurate regarding the evolution of economic policy/monetary policy and the chain of events we have experienced both domestically and internationally thus far, including this "manipulation conundrum" you speak of.  If you want to look to the future -- see what they're saying. And perhaps ignore their price forecasting regarding the metals. Prepare yourself mentally...you might want to go into it with a strong stomach...

Adios 

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#7) On December 04, 2013 at 11:49 AM, lemoneater (71.35) wrote:

Dragon, Hope you had a Happy Thanksgiving! I was in the Detroit area for the holiday visiting a relative that had moved there. The snow that fell on Thanksgiving was glorious. Living down in SC I sometimes feel a little snow-deprived.

One of my favorite things about being an American is that I have the freedom to be civil to other human beings. Sadly, I do not always take full advantage of that liberty.

Have a very merry Christmas!

 

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#8) On December 04, 2013 at 12:28 PM, dragonLZ (99.33) wrote:

lemoneater, Thanksgiving was great, thank you. 

I'm glad you got the chance to enjoy the snow. (Living in Michigan, close to where your relative now lives, I usually don't enjoy it that much :) ).

Thanks for stopping by and you, too, have a merry Christmas and I wish you a healthy, happy, and prosperous 2014. 

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#9) On December 04, 2013 at 12:47 PM, ryanalexanderson (< 20) wrote:

Check out MY Caps picks, losers. Nothing but the finest silver and gold miners, picked in 2009. I unfortunately stuck Silver Wheaton in there, which is screwing up my accuracy record. Ah well - can't lose 'em all. 

My ranking is currently 2.01 - desperately trying to break into the bottom 2% but I won't try to make it happen by trading. That's a fool's game. 

Fortunately, my real life picks bear no resemblence to my caps portfolio, which were picked with pique after an online CAPS argument where someone mocked all my other investments. 

However, I do think gold won't go much lower than $1150. You're getting close to marginal production costs, and mines will start to shut down. And China ain't slowing down their purchases.  

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#10) On December 04, 2013 at 12:52 PM, lemoneater (71.35) wrote:

Snow is pretty to look at, but not drive in. One can have too much of a good thing, but I enjoyed it because we did not really have much here last winter.

It is interesting to think about the kind of businesses that capitalize off wintry weather. Compass Minerals (CMP) a major salt supplier for roadways is one such stock. Spectra Energy (SE) is my other winter play since the pipeline company provides winter fuel.

Somehow the hot cider was even better after our wintry walk with the dog.

Thanks for the good wishes! I'm doing very well. Happy New Year to you and yours!

 

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#11) On December 04, 2013 at 12:59 PM, dragonLZ (99.33) wrote:

MWW, Can you please be a little bit more specific - when exactly is this apocalypse coming?

You've been preaching this same "doom scenario" for 4 years now, and it still hasn't happened yet.

People who deceided not to listen to you lived just fine these last 4 years (it is a proven fact that optimistic people tend to lead happier lives than pessimistic, grumpy people), and very possibly made a coin or two investing in the stock market. On the other hand, people who did listen to you, lost their shirt by investing in PM miners and shorting the stock market.

Telling a person, "Don't enjoy what life has to offer because we all are going to die someday (and it might be your turn tomorrow)", I don't find to be a very helpful advice.

p.s.

I have no idea why I'm writing this when you already said you are not going to respond... :) 

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#12) On December 04, 2013 at 1:43 PM, dragonLZ (99.33) wrote:

"Check out MY Caps picks, losers. Nothing but the finest silver and gold miners, picked in 2009. I unfortunately stuck Silver Wheaton in there, which is screwing up my accuracy record. Ah well - can't lose 'em all."

ryanalexanderson, Don't sweat it too much, having only one pick work against you (SLW, really??? What were you thinking???) is not that bad. Most people here on CAPS can only wish to have your accuracy.

As for gold not going below $1150, I wrote this post just because I think the gold will do the "unthinkable" - it will dip below $1150, which I've heard is the cost to mine it.

Just the feeling I have, but one can never know. 

p.s.

I'm starting to doubt my call now knowing you disagree with me. I'm thinking it's probably not too wise going against a guy with an accuracy record like yours. :)

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#13) On December 04, 2013 at 2:03 PM, ryanalexanderson (< 20) wrote:

Ah, but that's exactly why you should disagree with me! I am the perfect contrarian indicator. I should go work for Goldman Sachs, writing my opinions and having the traders do the opposite. 0% accurate is the same as 100% on Wall Street.

Actually, I'm actually surprised you can even hear me, with almost the entire Motley Fool CAPS community standing between you and I. 

 

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#14) On December 05, 2013 at 11:48 AM, Valyooo (99.47) wrote:

Moneyworksforme,

 

how old are you that you still have not discovered sarcasm?

 

i quit caps for the most part a few months ago but I'm Glad the day I checked on it I got to sea. Dragon blog. Always cracks me up

 

ps I blew my nose and some yellow substance came out. I'm going to see if I can incorporate on the TSX 

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