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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG -- Ignore unavailable to you. Want to Upgrade?


To: carranza2 who wrote (28648)5/1/2011 8:20:38 PM
From: Wade1 Recommendation  Respond to of 48092
 
marketwatch.com

By Michael Kitchen LOS ANGELES (MarketWatch) -- Silver prices fell sharply in early Monday trading in Asia, with the spot price plunging more than 10% in a matter of minutes, according to Kitco data. By 9:30 a.m. Sydney time (7:30 p.m. U.S. Eastern time), spot silver traded at $43.63 an ounce, recovering from below the $43 level earlier in the day. At one point early Monday, the price dove 12% within 11 minutes, according to Dow Jones Newswires, which put the intraday high at $48.15 before a plunge to $42.21. Some reports pointed to low volume, due to holidays in some markets Monday, as exagerating the move, and said the sharp drop pointed to a speculative move against the silver price. On the futures market, silver for July delivery was down 9.6% at $43.965.



To: carranza2 who wrote (28648)5/1/2011 11:24:23 PM
From: loantech2 Recommendations  Read Replies (2) | Respond to of 48092
 
Osama dead may be the reason for the gold pull back.Nailed by a President that was not soft on terror like his predecessor.



To: carranza2 who wrote (28648)5/1/2011 11:27:47 PM
From: orkrious1 Recommendation  Read Replies (1) | Respond to of 48092
 
The selling was almost certainly started by those who knew Osama is dead. They probably figured (correctly it appears) that the knee jerk reaction would be to sell the metal and buy the dollar. Nothing has changed. It wouldn't surprise me if we are green tomorrow, two days at most.