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Gold prices tumbling down after CME raised margins on gold contracts by 22%

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posted on Aug, 11 2011 @ 11:10 AM
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Gold futures fell the most in seven weeks after CME Group Inc. (CME) boosted margins on Comex contracts, prompting investor sales after a three-day rally to a record topping $1,800 an ounce and as equities rebounded.
CME Group, owner of the world’s largest futures market, raised margins on gold contracts by 22 percent. The minimum amount of cash that speculators must keep on deposit for an initial account increased to $7,425 on a 100-ounce contract from $6,075.
www.bloomberg.com...


Seems like the CME isn't happy about the fact that a lot of people are buying gold.

Is this the end of Gold's run-off craze or do you think the price will shoot up again?
edit on 11-8-2011 by CasiusIgnoranze because: .




posted on Aug, 11 2011 @ 11:13 AM
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Supply and demand, if people demand it then the price will continue to go up.



posted on Aug, 11 2011 @ 11:13 AM
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Doubt it.

If anything it goes to fill the breakout gap from this week. I believe that price is around 1680.

Gold just made an astounding run this week. I wouldn't bet one way or the other. This is a headline driven market we are currently in.



posted on Aug, 11 2011 @ 11:15 AM
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On another note was there not a rumor going around that if the people kept buying gold and silver it would sink JP morgan? because they where short selling?
edit on 11-8-2011 by michaelmcclen because: is bad



posted on Aug, 11 2011 @ 11:15 AM
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Gold will see $2000 by year's end and $3000 by end of next year; evenually within the next few years don't be surprised gold rises to $5000+



posted on Aug, 11 2011 @ 11:17 AM
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reply to post by michaelmcclen
 


I think silver is the Achilles heel of these banks hence they manipulate it heavily to keep the price low. JP Morgan themselves said the price of gold should reach $2500 by the end of this year, so the rise in the price of gold actually benefits them...I think!

business.financialpost.com...



posted on Aug, 11 2011 @ 11:20 AM
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reply to post by michaelmcclen
 


All based on terrible journalism and gullibility.

There was no truth to that, IMO. If anything, they could use options to cover their "astoundingly short positions."

That was just a lot of talk for the conspiracy crowd. Not based on any truth at all from the research I did. I did quite a bit, too. From the research I did it was:

a) impossible to tell

b) very unlikely because of the way the banks report their data

You also have to remember JPM is a prime broker. They have many different clients going through them.



posted on Aug, 11 2011 @ 11:25 AM
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Originally posted by CasiusIgnoranze


Gold futures fell the most in seven weeks after CME Group Inc. (CME) boosted margins on Comex contracts, prompting investor sales after a three-day rally to a record topping $1,800 an ounce and as equities rebounded.
CME Group, owner of the world’s largest futures market, raised margins on gold contracts by 22 percent. The minimum amount of cash that speculators must keep on deposit for an initial account increased to $7,425 on a 100-ounce contract from $6,075.
www.bloomberg.com...


Seems like the CME isn't happy on the fact that a lot of people are buying gold.

Is this the end of Gold's run-off craze or do you think the price will shoot up again?


The markup will simply be margined into the buy/sell price of gold.

it might take a dip for a bit but it'll go back to being "the commodoty to go to" soon enough.

People keep smoking regardless of how high the tax on cigarettes becomes.. just sayin



posted on Aug, 11 2011 @ 11:27 AM
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Stocks used to be the "safe haven" investment, then it became real estate, now it's gold. There is a HUGE bubble in the gold market right now, and like all investment bubbles it will burst. Gold is just a commodity, its value has been inflated by the false belief that it is somehow immune to investment peaks and valleys. Once the bubble bursts I wouldn't be the least bit surprised to see it lose half its value in short order.



posted on Aug, 11 2011 @ 11:28 AM
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its going to drop back down below a thousand and the rich will get richer.......just liked they planned



posted on Aug, 11 2011 @ 11:29 AM
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reply to post by bluemirage5
 


that would be ridiculous if it were to go up to $5000 as then Gold will only be affordable by the rich!



posted on Aug, 11 2011 @ 11:31 AM
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reply to post by CasiusIgnoranze
 


So -0.84% on the day (1769 right now and slowly rising) is "tumbling"?
edit on 8/11/2011 by CaticusMaximus because: (no reason given)



posted on Aug, 11 2011 @ 11:32 AM
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reply to post by CaticusMaximus
 


It still broke its 7 week trend of increasing in price.



posted on Aug, 11 2011 @ 11:33 AM
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Originally posted by CasiusIgnoranze
reply to post by bluemirage5
 


that would be ridiculous if it were to go up to $5000 as then Gold will only be affordable by the rich!


The price will whorably plummet and everyone will dump their gold in fear of getting totally screwed, which they will when they sell it off to the rich for $500 less than what you bought it for

edit on 11-8-2011 by anumohi because: (no reason given)



posted on Aug, 11 2011 @ 11:33 AM
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reply to post by CaticusMaximus
 


It's down about 50 dollars from its overnight high when the margin hike hit.

I believe the hike came around $1815.00 / oz



posted on Aug, 11 2011 @ 11:41 AM
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reply to post by SavedOne
 


That's exactly right!

There is a huge bubble ready to blow on the gold market, and that is because many of these gold-dealers are selling paper gold without physical gold to hand over to the buyer.

The first time poeple want to trade their paper gold for real gold............chaos! Most people don't know there is not enough supply of gold to fulfill the demand.



posted on Aug, 11 2011 @ 11:42 AM
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Gold will ALWAYS increase. It may baounce around a little here and there, but it's kind of like real estate. In the long run the value will increase.


You can bet as long this economy stays on this track....gold will continue to be a pretty safe investment, My question is.......will they back it with whatever new currancy they intend to roll out? I feel certain this orchastrated financial crises is to introduce a new "one world" currancy. And if they do back it with the new currancy, (which might be the only solution to keep away from inflation)....then the price of gold will have to sky rocket. At which time they may do a roll back to the 1933 Ececutive Order of "GOLD CONFISCATION". I think they may actually do this BEFORE they announce the backing of a new currancy....just a thought.



posted on Aug, 11 2011 @ 11:52 AM
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reply to post by SavedOne
 



There is a HUGE bubble in the gold market right now, and like all investment bubbles it will burst.

No there isn't.

What is your proof of this?



Stocks used to be the "safe haven" investment, then it became real estate, now it's gold

No, now it's U.S treasuries, not gold.



I wouldn't be the least bit surprised to see it lose half its value in short order.

Gold will never loose its value.



posted on Aug, 11 2011 @ 11:58 AM
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reply to post by Angelicdefender2012
 
or they will tax the movement of gold at 90%....
that would just about do it!




posted on Aug, 11 2011 @ 12:04 PM
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reply to post by Rockdisjoint
 



Gold will never loose its value.




en.wikipedia.org...:Gold_price_in_USD.png

That's what people were telling themselves back in 1980.



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