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Is there any reason that gold keeps dropping?


Amazing

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I bought gold at $1290 spot price after about a $50 drop and I thought that was a good price, but I was sadly mistaken, it's dropped another almost $70 since then and it just seems to continue downwards.

Is there any explainable reason for this?

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I am buying on the regular so it doesn't make much difference to me, but my feeling is - its the market wot dun it.

Looks like once through $1240 the real selling started. It could have a long way to go, but I base this on nothing much than it is what I want to happen. Silver has broken support also, next stop $13 and change. 

Platinum looks a bit better, nearing the lows again, so possibly the bottom and time to buy. 

Could be wrong.

Or could be looking at another few years of better buying opportunities in all metals with a bit of luck. Just need some sterling strength to make the most of it. 

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Today the chairman of the private anti-American bank, the Federal Reserve, gave a speech to Congress. His 'testimony' was said to be very positive and as a result i saw the silver price smashed as it breached $16. Gold got a hit as well.

Several cages were rattled with the Trump Putin meeting. Deep State operatives are fearful of what the Russians told Trump. Putin threw out a bombshell with the claim $400 MILLION of illegal cash was given to Clinton. The controlled propaganda outlets did not report this. This to me is proof positive they are utterly corrupt and refuse to report the news.

Everything these people say is a lie. Inflation is starting to wind up. The numbers look like 10%. The Fed would be forced to ramp up interest rates if this were published. If rates went up it would cause large scale defaults b/c of the mountain of debt in the system. The unemployment rates are a lie. We saw Sears closing a flagship store in Chicago last week. Stores are closing. They explain this being due to Amazon but Amazon is not making this turnover, it is less spending in the shops b/c people don't have the money. If the actual number of people unemployed and under employed were published it would be clear the US economy is shot.

The USD would tank as all the fiat currencies tanked. They defend the USD b/c this is the banks life blood. Exposure of huge trade deficits and a shot out economy and inflation stepping up would cause havoc. So they lie and string this out. They must keep gold and silver down in their currency management scheme. As far as buying gold and silver i now ignore the price. i just keep buying. If the price goes lower, then buy more if you can.

i would say, so what about a few percent in the price. Buy and keep buying. This is what the cartel don't want you to do, so do it. Double down and buy as much as you can afford.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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1 hour ago, sixgun said:

Today the chairman of the private anti-American bank, the Federal Reserve, gave a speech to Congress. His 'testimony' was said to be very positive and as a result i saw the silver price smashed as it breached $16. Gold got a hit as well.

Several cages were rattled with the Trump Putin meeting. Deep State operatives are fearful of what the Russians told Trump. Putin threw out a bombshell with the claim $400 MILLION of illegal cash was given to Clinton. The controlled propaganda outlets did not report this. This to me is proof positive they are utterly corrupt and refuse to report the news.

Everything these people say is a lie. Inflation is starting to wind up. The numbers look like 10%. The Fed would be forced to ramp up interest rates if this were published. If rates went up it would cause large scale defaults b/c of the mountain of debt in the system. The unemployment rates are a lie. We saw Sears closing a flagship store in Chicago last week. Stores are closing. They explain this being due to Amazon but Amazon is not making this turnover, it is less spending in the shops b/c people don't have the money. If the actual number of people unemployed and under employed were published it would be clear the US economy is shot.

The USD would tank as all the fiat currencies tanked. They defend the USD b/c this is the banks life blood. Exposure of huge trade deficits and a shot out economy and inflation stepping up would cause havoc. So they lie and string this out. They must keep gold and silver down in their currency management scheme. As far as buying gold and silver i now ignore the price. i just keep buying. If the price goes lower, then buy more if you can.

i would say, so what about a few percent in the price. Buy and keep buying. This is what the cartel don't want you to do, so do it. Double down and buy as much as you can afford.

Amen, the news is 100% controlled, no matter if it's left or right wing, it's all the same fake paid propaganda that's being pushed.

Watch this 2 minute video, it's definite proof: 

It's quite scary really.

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Bring on the lower prices I say!

Stacking gold for 30+ years so god knows where things will be with the world and prices by then. Cheaper prices means more oz's to be bought for the same number I had planned to save with!

Visit my website for all my Hand Poured Silver: http://backyardbullion.com

And check out my YouTube channel 

https://www.youtube.com/backyardbullion

 

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Food inflation will steadily rise this winter with this summers weather. So buy your winter carrots now if you want so save some money.......... what difference does this make?   The government need cheep food to keep the masses quiet, when food rises people get discontent.   Think this winter thing could kick off

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1 minute ago, Cornishfarmer said:

Food inflation will steadily rise this winter with this summers weather. So buy your winter carrots now if you want so save some money.......... what difference does this make?   The government need cheep food to keep the masses quiet, when food rises people get discontent.   Think this winter thing could kick off

We grow our own carrots ? no discontent in the BYB household regarding vegetables!

Visit my website for all my Hand Poured Silver: http://backyardbullion.com

And check out my YouTube channel 

https://www.youtube.com/backyardbullion

 

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8 minutes ago, BackyardBullion said:

We grow our own carrots ? no discontent in the BYB household regarding vegetables!

Make the most of them.  Always sweeter when home grown.   Now make your own bread milk and butter and you’ll be away.   In all seriousness carrots are grown under straw, straw has doubled in price so that has to be covered also with it being so dry milk production has fallen like a stone, with some farms that have run out of feed taking from Kent to Cornwall. While others are kulling cows to save feed for the winter.  All this will mean food prices will rise

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@Cornishfarmer

Well, if we cannot afford to grow carrots we will survive on beans...this is the first of 4 bean batches of 2.5kg we have picked, blanched and frozen for winter! Not to count the beans we are eating as we go throughout the summer! 

#thegoodlife or... #thebeanlife

 

IMG_20180708_173933.jpg

Visit my website for all my Hand Poured Silver: http://backyardbullion.com

And check out my YouTube channel 

https://www.youtube.com/backyardbullion

 

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You need to be expert in storing food. Elsewhere on the forum i have spoken about food shortages and prices. Serious food shortages. There is nothing better to create unrest than food shortages. The people become uncontrollable in those conditions. You need to be putting down lots of food, not a few bags of blanched beans in the freezer will last a few days. Do you have a year's food stored?

As Cornishfarmer says there will be price rises. I saw on the BBC controlled propaganda outlet last night they were spinning the story about government debt being £1.8 trillion. That the country has had 10 years of austerity. But this is not enough, we will have to subjected to tax increases and the sycophant Kamal Ahmed told the masses these rises would have to be significant. So let's imagine significant tax rises and significant food price rises.

The controlled propaganda outlets like the BBC will never tell the people there is going to be big food price rises - in other words food shortages. They will never tell people how to prepare. They will put out the usual diet of junk and misinformation. The people will never be told until it is too late. You cannot eat gold. The UK used to be self sufficient in food. Now there are so many people, too many people, i will leave you to figure it out.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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7 minutes ago, JunkBond said:

His name is @Roy

Still buying!

Picked up a cheap Griffin recently thanks to a tip on here ?

Technically, alcohol is a solution..

'It [socialism] poses a growing threat, however unintentional, to the freedom of this country, for there is no freedom where the State totally controls the economy. Personal freedom and economic freedom are indivisible. You can’t have one without the other. You can’t lose one without losing the other.'

"There is no such thing as public money, there is only taxpayers' money"

Let not England forget her precedence of teaching nations how to live.

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Prices are dictated by the paper markets. The paper markets are controlled by the banks.

They will send price wherever to defend the USD. They will send price wherever to make profit.

What happens in the physical markets with real gold is an increasing impediment to the management of price but the more desperate the banks become the more caution they will throw to the wind. The true supply and demand for gold and silver does not dictate the paper price. The speculators in the paper market have no idea what is actually happening. All the silver in the world could have been used and they would keep selling based on the charts and what some paid mouthpiece is saying.

At some point price will reset. When this will happen we can only guess at. When it happens it will happen suddenly and dramatically. i expect over a long weekend.

The controlled propaganda outlets will put out 'reasons' for why price movements occurred but these are simply something to say. The numbers are fake so the reasons given based on fakery can only be nonsense.

All we have to do is keep buying physical and holding. Steady accumulation whilst these unreal prices exist. The price is dictated by massive paper selling as we saw yesterday. Price gradually rises and then when it threatens certain price levels on the charts it gets smashed down. This is done to manage price in general currency management and not for any supply demand trading reasons. This is a window of opportunity. The cartel have been managing price for many decades. Then they lose control and we see strong movement upwards.

Yesterday i heard about the gold stock pile Iran has built up. That it is on a par with Russia and China. Later this year the Chinese gold - oil contracts start to kick in. We do not need many of the oil producers to decide they want gold for it to cause problems. Iran is being backed up by China and Russia. It will be part of the Belt and Road initiative. There are so many stories Iran is in meltdown. The cabal was to topple the leadership and wreck the country. China and Russia will not allow this. Iran will take gold for oil and hit the cabal where it hurts.

The metal accumulated by the countries the US sanctions, is not for decoration . It will be to back currencies in the next paradigm. We want to be on the right side of this reset when it happens. Everyone else will be looking at self incrimination websites like Fakebook on their mobile device and in a trance as was always intended.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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Bear in mind that gold demand is seasonal and these are the summer doldrums. The months in which gold usually rises are January and September, due mainly to the Chinese new year and the Indian wedding season. If we are experiencing a seasonal downturn, expect gold to rise towards the end of August and into September, then fall in November and December. If gold has not recovered to at least $1300 by the end of September, then it is not a seasonal downturn and something else is happening. Either way, this is not a bad time to buy a few more gold coins.

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Has everyone seen the igold advisor vid on YouTube? It's a good one, especially interesting the market moves in 2008. Can't link it on the phone.

Looks like cheaper gold coming up later in the year, perhaps for a few years, perhaps just until next. 

He didn't talk about silver but I imagine it's the same story.

Small chance it's false breakdown.

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Yeah I watched it.  He presents his point of view well.  I don't necessarily agree with him.  If the oil/yuan contracts, and Kinesis and India/china holidays suck physical off the markets, I don't see things playing out like he says.  Going to be some curve balls thrown into the mix in the next few months.  It will be interesting to watch.

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