Gold prices dropping like a rock

[SUBMAN1]

In its continuing roller coaster ride, gold is going downhill in handbasket. This makes gold not even keeping up with inflation. Its like having your money worth half as much every few years as it would in a simple bank account. A losing proposition, and always has been.

-S

RAW MATERIALS: Gold futures take dive

Gold futures fell, capping the biggest weekly loss since 1990, as the dollar rallied and traders pared bets on future cuts in U.S. interest rates by the Federal Reserve.
Interest-rate futures show a 58% chance the Fed will cut borrowing costs by 50 basis points to 1.75% next month, compared with an 82% chance Wednesday.
The Fed has cut the overnight lending rate six times since September, when it was 5.25%. Gold reached a record $1,033.90 on March 17, before losing as much as $100 this week.
"Gold can thank the Fed and the dollar for this monstrous sell-off," said Matt Zeman, a metals trader at LaSalle Futures Group Inc. in Chicago. "Right now, we are in no-man's-land."

[Antiacus]

It'll correct.

This is the time to buy.

[stabiz]

Its my fault, I found a lump the size of Bismarck in my back yard.

[Letum]

Originally Posted by stabiz

Its my fault, I found a lump the size of Bismarck in my back yard.

I once found a tiny lump the shape of the Bismark on my front lawn.

[DeepIron]

The world currency foundation based on the price of gold has been a fallacy for decades. The printing of paper money far outstripped the ability of governments to redeem "value for value" paper currency for gold metal...

To quote the Wikipedia:

"The gold standard is not currently used by any government or central bank, having been replaced completely by fiat currency. However, private currency, backed by gold, is in use."

Maybe we should be using Uranium or Plutonium instead...

[Jimbuna]

What next.....free samples to all visitors at Fort Knox so there'll be more room for bank notes