Gold has steadied since it plunged last month; what's next?

  • Article by: MATTHEW CRAFT , Associated Press
  • Updated: May 12, 2013 - 11:53 AM

NEW YORK - When the price of gold plunged $200 last month, many people thought they caught the sound of the gold bubble popping.

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mauianMay. 14, 13 3:00 PM

Short answer is no. Long answer is HECK NO. What has changed that would negate the reasons people invest in gold? Fear of inflation? Fed is printing $85 billion a month, which HAS to cause inflation at some point. Fear of losing money? "Bail IN" anyone? Fear of dollar collapse? It's a global race to see which currency can fail fastest. In other words nothing has changed. Funny how the Fed says gold isn't money, yet banks buy it like there is no tomorrow. Goldman Sachs lowers their forecast for gold and the world goes nuts.

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mauianMay. 14, 13 3:03 PM

One more thing. People are not rushing to get OUT of gold. The opposite is happening. The only gold being "sold" off is paper gold. People are buying gold like crazy right now. Try to buy some American Eagle gold coins from the US Mint. Or Canadian Mint. Sold out. Only the Comex paper gold has been depleted. Paper gold is NOT GOLD. If you can't clunk it in your hands, you don't own gold.

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