Gold prices dropping - Page 2

Hey no need to be sorry these discussions bring in some very knowledgeable members. I especially love reading the wealth of info that Nobel puts out here for all of us. Also I think it is very professional for you to share with your clients that we may be seeing changes in prices. Gives us time to decide if we should sell now or hold on to what we have until prices rise again.



Also I looked in the similar threads box and seen that easy had posted about the drop last year about this same time. Also was down around 1600 then. Like I said I haven't really watched prices until now and just trying to figure out the patterns.

Goldman Sachs Predicts $1,050 Gold by End of 2014
By Rob Bates, Senior Editor JCK news
Posted on June 25, 2013


The days of reasonably priced gold may come back again, if Goldman Sachs is correct.

The famed investment bank is forecasting that the yellow metal, which saw its price soar over the last 12 years to more than $1,900 an ounce, will fall to $1,050 by the end of 2014, according to The Guardian and other news sources.

Goldman Sachs cut its year-end prediction for gold to $1,300 an ounce, down from the $1,435 originally forecast and close to its current price. At press time, gold was trading at $1,276 an ounce.

“We expect that gold prices will decline further given our U.S. economists' forecast for improving economic activity and a less accommodative monetary policy stance," Goldman Sachs said, according to media reports.

"We expect this decline in prices to coincide with rising jewelry/retail demand, which we view as price responsive and not price setting," it added.

Goldman Sachs’ prediction is just one of many recent bearish predictions for gold, which has been down for the year.

Originally Posted by NobleMetalWorks

It's the end of the year, people divest this time of year to pay for xmas.

The baby boomers are selling off precious metals because they cannot sell their houses to pull equity for retirement. This is the last year baby boomers are retiring but also the largest number of people retiring ever.

It's an election year, and even though it's over with our current president is a lame duck, meaning he is beholding to nobody this second term because he doesn't have to worry about re-election, he cannot be re-elected.

It's the end of the 2600 year cycle on the Mayan calendar, and odd as this might sound some people sold off gold because they thought it was the end of the world.

The average age people have liquid funds to purchase precious metals is 46, however there is a large percentage of those people who have lost their houses, and jobs, and are not liquid. And there are fewer and fewer people in the US at least, who are 46. We are actually on a population decline, fewer people are being born. We only have an increase in population because the baby boomers are still around.

Fact is if you haven't caught on already, there are so many different factors that we can point at and call out as the reasons for gold prices falling. Personally I believe the market is manipulated by those who can do so. And it's done for the simple reason of profit taking. Gold will go up again, and down again, and up again and continue to do so for the rest of our lives. However, the general trend is that gold continues to rise over the decades, and nothing has ever stopped it.

Scott

The thing that is really hitting the boomers is the change in time, aka, evolution. Things are changing and all projections from a few years ago is out the window. What you thought would work for retirement a long time ago, will not and it has nothing to do with Obama. We need to accept things for what they are, keep it realistic, and do what we must to survive. Nothing is free and one way or the other, we all must pay to live.

If you believe a dam thing Goldman (lying) Sacks (of fecal matter) says, you are truly the bigger fool.

Them saying gold's going down makes me that much more bullish on it. In case you haven't figured out the way the game is played by now, these brokerage houses (ESPECIALLY GS!!!!!!) publish half-truths and outright lies to confuse the populace... then, when the sheeple react to the bull$#!+ they spout, they either buy what they bashed at a lower price, or sell what they talked up at a higher price.

I'm having to edit my post as I go to keep from having every word filtered by the cussword-preventer on this forum, but suffice it to say, those guys, all the brokerage houses but ESPECIALLY Goldman Sachs, should be lined up against a brick wall with a blindfold and a cigarette.

Well, My two cents... I trully belive the market is saturated with gold.. which is driving the gold value down... silver on the other hand is going up.. as due to the part not too many people buy silver.. They belive gold will out weigh the dollar in near future when the bank bottoms out. It goes both ways... Everyone on this forum or on this thread is correct.. its there thoughts.. and We all have thoughts..

so.. again everyone rights.. but the truth will tell soon.. Just hold on.. Feds are getting braver.. when they flip the switch.. watch your feet.. cuzz We're all going under.

My two cents for this post.

Down another $40 an ounce so far today. Kinda glad I've got other problems right now and can't buy material.

Hang tough everyone invested in e-waste. I feel your pain with what I have on hand.

any one got a gun I can borrow for a minute or two . 3 days ago I bought 1200 lbs of mixed boards at $2.50

Originally Posted by pcscrapper

Well, My two cents... I trully belive the market is saturated with gold.. which is driving the gold value down... silver on the other hand is going up.. as due to the part not too many people buy silver.. They belive gold will out weigh the dollar in near future when the bank bottoms out. It goes both ways... Everyone on this forum or on this thread is correct.. its there thoughts.. and We all have thoughts..

so.. again everyone rights.. but the truth will tell soon.. Just hold on.. Feds are getting braver.. when they flip the switch.. watch your feet.. cuzz We're all going under.

My two cents for this post.

the market is only saturated with paper gold. basically worthless , like paper money. for those who don't believe this try to buy real gold at these prices. paper is only good for manipulating the market, the big banksters like Goldman sham are experts at, they invented the game so, they made the rules. BUY JUNK SILVER COINS IF YOU CAN FIND ANY A TTHIS PRICE.

Originally Posted by URBANERECYCLING

What do you consider mixed boards?

By mixed boards mean every thing green except power supply boards. the people or yards who truly know and understand computer/server scrap don't sell to me.

Originally Posted by copycat

If you can afford to hold onto your ewaste, I would. Gold not gonna stay low very long. When the fed ease up on printing money the sh*t is gonna hit the fan.

I agree, but sadly I.m to small potatoes to be able to hold 6 Gaylords. still have to pay bills and eat and feed five others.

Gold Falls to Lowest Price Since August 2010
By Rob Bates, Senior Editor JCK News Daily
Posted on June 26, 2013





Gold Falls to Lowest Price Since August 2010
By Rob Bates, Senior Editor JCK News Daily
Posted on June 26, 2013


Gold, which once seemed to be on an endless upward trajectory, is fast heading the other way.

On June 26, the spot price of gold fell to $1,223 an ounce, its lowest level since August 2010. At press time, it was trading at $1,232 an ounce—down $43 for its from its opening.

Goldprice.org says that the yellow metal's price per ounce has fallen $111 over the last 30 days and nearly 20 percent over the last year.

Analysts attributed the decline to a reaction to the increasing strength in the U.S. economy.

The news comes as analysts are striking increasingly bearish notes about the metal, with Goldman Sachs predicting it will hit $1,050 by the end of 2014.

Originally Posted by olddude

any one got a gun I can borrow for a minute or two . 3 days ago I bought 1200 lbs of mixed boards at $2.50

Sorry olddude, but as much as it sucks I wouldnt want to be one of the bigger buyers on here right now. I think that it is going to get a bit worse before we see a turn around. July 1 is what I am waiting for, if the fed raises interest rates and stops printing money like they say they are going to do, i think metals will rebound and the rest of the markets are going to take a crap. All the big time players are letting everyone else get out of metals and dump money into stocks knowing that the economy is not as strong as the govt wants us to believe.the general public doesnt think that the govt freebies will ever end but when reality sets in it will be too late and those that have the metals will have the real power going foward. Goldman Sucks wants as many people dumping metals as possible so they can buy at the lower rate to off set when they bought at 1600. They know **** well the ceiling for metals will never reach $2000 as the experts predicted in late 2012. So when those that are dumping metals and reinvesting in stocks have that "oh crap what did I do" moment, thats when the big players will buy as much metal as possible and screw over the people that they are supposedly looking out for their best interests, their own customers.
If you can hold out for a bit longer and try to get buy on secondary scrap from your ewaste I think you will be glad you did...