4um: Gold Surges Back Into The Green After $1.2 Billion Morning Plunge

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Title: Gold Surges Back Into The Green After $1.2 Billion Morning Plunge
Source: [None]
URL Source: http://www.zerohedge.com/news/2016- ... fter-12-billion-morning-plunge
Published: Feb 5, 2016
Author: Tyler Durden
Post Date: 2016-02-05 16:34:50 by Horse
Keywords: None
Views: 46
Comments: 4

After someone decided to dump $1.2 billion notional in gold futures this morning as the jobs data hit - sparking a $20 tumble in the precious metal - it appears stock sellers are greatly rotating to the safety of bullion (over bonds)...

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Poster Comment:
Gold is $1,172.89.(2 images)
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#1. To: Horse (#0)
Oopsie - I should have bought more at 1040...oh well.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
Lod posted on 2016-02-05 16:45:41 ET Reply Trace Private Reply
#2. To: Lod (#1) (Edited)
Dollar is dropping against the euro which means the price in dollars has to rise. The euro was $1.07 but rose to $1.12 recently. A few years ago the euro was $1.40.
The Truth of 911 Shall Set You Free From The Lie
Horse posted on 2016-02-05 17:02:20 ET Reply Trace Private Reply
#3. To: Lod (#1)
I should have bought more at 1040...oh well

Gold and especially the miners are looking over-bought in the short-term and could see a sharp pullback (a.k.a. buying opportunity?) early next week.

Ada posted on 2016-02-05 17:21:21 ET Reply Trace Private Reply
#4. To: Ada (#3) (Edited)
Generally, and I do mean generally, such a pop soon leads to a retrenchment; we'll see soon enough.
I've bought Au at 1800 so this is not really scary, yet.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
Lod posted on 2016-02-05 17:24:38 ET Reply Trace Private Reply
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