RE:RE:likeike and the board, what bothers me the most............GoldenEra wrote: bought a little more. already down big but hoping things improve.
braindeadoldguy wrote: Every time gold gets hammered, the excuses for the drawdown are endless and often mind-boggling. One day it's the farm report, then it's the money tightening talk, then it's the USD
that's dropping, or something else out there. It is an endless array of bull designed to explain
away price drops, but they are all stories. These stories are created by the media in that section
of the news world called, in my book, "stock manipulation excuses" as cover stories for what the central banks orchestrate against the markets with impunity.
Then every once in awhile you read about case where someone is charged and convicted of
spoofing the markets, and they get a slap on the wrist and the company gets what looks like a big fine, but against what they stole out of the markets from the small buy like you and me is not reconciled, not paid back or put back because they don't know how to do that, and it's called the price of doing business on wall street.
What bu11chit we have to live through to become successful in these manipulated markets.
Cheers
Ah don't feel bad I made a lot of purchases much higher than today's price as well. We are licking our wounds today so we may have lost the battle but we will win the war. Longer term we will do just fine but we will have to endure some short term pain now by the looks of it. One good thing about the gold sector is it won't stay this way for very long because it changes like the wind. New Found Gold has lots of high grade gold in the ground so the value is there and they have at least 8 drills adding more ounces everyday. Buy more if you can and we will prosper longer term
For anyone that missed it the reason for the sell off in gold is explained below. Nothing to do with New Found Gold.
The most recent selloff in gold, which began on Friday, was triggered by a stronger-than-expected U.S. employment report. The July gain of 943,000 positions pushed the U.S. dollar and the U.S. Treasury yields higher on speculation that the Federal Reserve could announce its tapering plans reasonably soon. This created a bearish environment for gold