Bad News for Gold Holders

[OnePercenter]

As I've written before, the only reason for the gold run-up was to 'make-up' for the losses in the dot com crash.

Gold Drops to Three-Month Low as U.S. Impasse Seen Ending - Bloomberg

 

[SteadyMercury]

Ask Ron Paul.

Dude loaded up his investment portfolio with as much gold, gold mining stocks as he could while pushing for a return to the gold standard and predicting economic collapse and hyperinflation around the corner. Now look at him:

Ron Paul Is Personally Losing A Fortune Because Of Gold Tanking - Business Insider

Newmont Mining Company: –37.29%
Goldcorp Holdings: –34.64%
Barrick Gold: –48.17%
Agnico Eagle Mines : –35.78%
Allied Nevada Gold Corp: –68.48%
Alumina Common: +6.32%
Anglo Gold Ashanti Ltd. –44.13%
BrigusGold Corp. Com MPV: –39.18%
Claude Resources Inc: –56.39%
Coeur D'Alene Mines Corp: –47.21%
Hecla Mining Co: –47.74%
El Dorado Gold Corp: Not Listed
IAM Gold Corp: –65.40%
Kinross: – 44.11%
Lexam Explorations Inc: – 57.57%
Mag Silver Corp: –-40.50%
Metalline Mining Co: Not Listed
Pan American Silver: –35.97%
Silver Wheaton Corp: –37.50%
Virginia Mines Inc: —16.48%
Vista Gold Corp. –53.9%
Viterra Inc +0.81%
Wesdome Gold Mines Ltd: –43.29%

At time of article he had lost over 40% in just six months. Quite the economics wizard.

 

[boedicca]

Holding gold is not a short term investment - it's an inflation hedge.

Mining stocks are Not Gold.

 

[whitehall]

Panic because gold hit a three month low? Don't look for a job in the commodities industry.

 

[OnePercenter]

Holding gold is not a short term investment - it's an inflation hedge.

Mining stocks are Not Gold.

Not any more.

 

[Zona]

But Glenn be k said gold was good.

 

[OnePercenter]

Panic because gold hit a three month low? Don't look for a job in the commodities industry.

Down from $1664.00 in 2012.

 

[Dont Taz Me Bro]

Holding gold is not a short term investment - it's an inflation hedge.

Mining stocks are Not Gold.

Not any more.

Disagree. We can't continue to run trillion deficits and print money out of nothing and not pay the consequences for it. It's not a matter of if; it's when.

 

[Toro]

Gold isn't an inflation hedge. Or at least it hasn't been for 30+ years.

I think it's going below $1000.

 

[whitehall]

But Glenn be k said gold was good.

Glenn Beck? Is that what it's all about? It never ceases to amaze that the radical left stands in the middle of government chaos and unemployment in a real double digit numbers while the administration is mired in scandal after scandal and they still find time to hate a voice on the radio.

 

[Old Rocks]

But Glenn be k said gold was good.

Glenn Beck? Is that what it's all about? It never ceases to amaze that the radical left stands in the middle of government chaos and unemployment in a real double digit numbers while the administration is mired in scandal after scandal and they still find time to hate a voice on the radio.

LOL. GOP chaos. The moment the GOP officially capitulates, the stock market will go straight up.

 

[HenryBHough]

Gold is something you acquire by working.....mining it. Then you keep it as "concentrate", refining/selling it ONLY when you actually need the money. That way gold has no "footprint" - IRS has no idea that you have it so they can't tax you on it. Even more, when Obama next plays FDR and issues an Executive Order seizing everybody's gold He won't have any idea what you have.

Buying gold? That's for victims.

 

[Mr. H.]

I've read that it costs about $1,200/ounce to mine and process gold. Izzat right?

 

[Toro]

I've read that it costs about $1,200/ounce to mine and process gold. Izzat right?

I don't know if that's true or not.

Last number I heard was ~$950, but that might just be the cash costs. I don't follow it anymore.

Ten years ago, when I was following it pretty closely, the cost of manufacturing gold was $350-$400.

 

[SteadyMercury]

Even more, when Obama next plays FDR and issues an Executive Order seizing everybody's gold

Yup that is the best way to manage your personnel finances, irrational paranoia.

Might as well add a dash of the usual 401k/IRAs will be seized claims, sprinkle in some hyperinflation and dollar collapse around the corner, and a touch of impending martial law so Obama can stay in power forever.

 

[thereisnospoon]

As I've written before, the only reason for the gold run-up was to 'make-up' for the losses in the dot com crash.

Gold Drops to Three-Month Low as U.S. Impasse Seen Ending - Bloomberg

A natural progression in market forces.
The US Dollar is not being bought by currency traders. So those holding gold futures are selling those and buying Dollars.
Where is the problem?
The gold market was due for a correction.
Trust this when I state, nobody is getting hurt.
In fact, the same people who bought gold futures on the way up are buying puts on the way down.
Jesus. How little you libbies understand.
All you know is "OMG!!!! The price is falling!!!!....
Oy Vey.

 

[thereisnospoon]

Ask Ron Paul.

Dude loaded up his investment portfolio with as much gold, gold mining stocks as he could while pushing for a return to the gold standard and predicting economic collapse and hyperinflation around the corner. Now look at him:

Ron Paul Is Personally Losing A Fortune Because Of Gold Tanking - Business Insider

Newmont Mining Company: –37.29%
Goldcorp Holdings: –34.64%
Barrick Gold: –48.17%
Agnico Eagle Mines : –35.78%
Allied Nevada Gold Corp: –68.48%
Alumina Common: +6.32%
Anglo Gold Ashanti Ltd. –44.13%
BrigusGold Corp. Com MPV: –39.18%
Claude Resources Inc: –56.39%
Coeur D'Alene Mines Corp: –47.21%
Hecla Mining Co: –47.74%
El Dorado Gold Corp: Not Listed
IAM Gold Corp: –65.40%
Kinross: – 44.11%
Lexam Explorations Inc: – 57.57%
Mag Silver Corp: –-40.50%
Metalline Mining Co: Not Listed
Pan American Silver: –35.97%
Silver Wheaton Corp: –37.50%
Virginia Mines Inc: —16.48%
Vista Gold Corp. –53.9%
Viterra Inc +0.81%
Wesdome Gold Mines Ltd: –43.29%

At time of article he had lost over 40% in just six months. Quite the economics wizard.

Moron...A good investor does not sell their holdings on the way down.
And those are precious metal stocks. Not commodities futures. There is a gigantic difference.
Unbeknownst to you, this portfolio will end up worth twice as much as before these stocks began to fall.
Do you really think this is permanent.
I would be telling my broker that once the price hits what he believes is the bottom, start buying.

 

[thereisnospoon]

Panic because gold hit a three month low? Don't look for a job in the commodities industry.

Down from $1664.00 in 2012.

And?....Please elaborate. In your OWN words, please enlighten us.

 

[thereisnospoon]

Gold isn't an inflation hedge. Or at least it hasn't been for 30+ years.

I think it's going below $1000.

In times of political or economic uncertainty, traders flock to precious metals.
Right now, the US Dollar is trading higher. So what?
No one is losing a dime.
Gold traders have gone from "buy" calls to "puts"...Meaning, they are betting where the bottom of the market will be. As the price of gold falls, they keep making money.

 

[Kevin_Kennedy]

Ask Ron Paul.

Dude loaded up his investment portfolio with as much gold, gold mining stocks as he could while pushing for a return to the gold standard and predicting economic collapse and hyperinflation around the corner. Now look at him:

Ron Paul Is Personally Losing A Fortune Because Of Gold Tanking - Business Insider

Newmont Mining Company: –37.29%
Goldcorp Holdings: –34.64%
Barrick Gold: –48.17%
Agnico Eagle Mines : –35.78%
Allied Nevada Gold Corp: –68.48%
Alumina Common: +6.32%
Anglo Gold Ashanti Ltd. –44.13%
BrigusGold Corp. Com MPV: –39.18%
Claude Resources Inc: –56.39%
Coeur D'Alene Mines Corp: –47.21%
Hecla Mining Co: –47.74%
El Dorado Gold Corp: Not Listed
IAM Gold Corp: –65.40%
Kinross: – 44.11%
Lexam Explorations Inc: – 57.57%
Mag Silver Corp: –-40.50%
Metalline Mining Co: Not Listed
Pan American Silver: –35.97%
Silver Wheaton Corp: –37.50%
Virginia Mines Inc: —16.48%
Vista Gold Corp. –53.9%
Viterra Inc +0.81%
Wesdome Gold Mines Ltd: –43.29%

At time of article he had lost over 40% in just six months. Quite the economics wizard.

And how much has he earned since he first started buying gold?