[Chuckmak]

hold up the fed cuts rates and the dollar goes UP!?!?!?!? wtf?

[smallpoxgirl]

$this->bbcode_second_pass_quote('Chuckmak', 'h')old up the fed cuts rates and the dollar goes UP!?!?!?!? wtf?

[Micki]

Yeah, I got up to watch the rate cut on the screen and oil was at the time up 3.50, euro was up, dow jones was at the time up +200 and gold&silver GOING DOWN.
Don't tell me there is no intervention or manipulation of gold price.
As mentioned a few posts ago, gold ALWAYS does this on gold bullish news...until the cartel runs out of ammo.

[Pretorian]

$this->bbcode_second_pass_quote('FishAreBest', '')$this->bbcode_second_pass_quote('', 'I')n the picture above, the gold the man is sitting on are kilobars, not ounces.

[jasonraymondson]

$this->bbcode_second_pass_quote('Chuckmak', '')$this->bbcode_second_pass_quote('jasonraymondson', '1') dollar

[Chuckmak]

$this->bbcode_second_pass_quote('jasonraymondson', '')$this->bbcode_second_pass_quote('Chuckmak', '')$this->bbcode_second_pass_quote('jasonraymondson', '1') dollar

[Revi]

Silver is back down below $19!

It's getting hammered down today. I wonder why?

http://www.kitcosilver.com/charts.html

[smallpoxgirl]

Gold is down $90 since Sunday and falling fast. Currently at $940.

[RonMN]

That's ok...gold is falling because the yen is rising, therefor hedge funds are in trouble & selling their gold...It wont last. Eventually the hedge funds will run out of their hedge (gold) & gold will make a run that wont stop.

These drops are to be expected while the yen rises.

[smallpoxgirl]

Yeah. As soon as this bottoms out, I think I'm gonna try to get in on silver.

[Chuckmak]

$this->bbcode_second_pass_quote('smallpoxgirl', 'Y')eah. As soon as this bottoms out, I think I'm gonna try to get in on silver.

[mekrob]

$this->bbcode_second_pass_quote('Revi', 'S')ilver is back down below $19!

It's getting hammered down today. I wonder why?

http://www.kitcosilver.com/charts.html

[mekrob]

Also, any idea where silver will saddle before taking off again? Can we expect $15? Or is that too low? I'm just trying to gauge when I should buy a few dozen ounces.

[RonMN]

the problem is most people are looking for PHYSICAL gold & silver...when the price drops drastically & quickly, nobody wants to sell.

Sure you can buy it on an ETF, but if you're looking to buy at a "bottom" it will be very difficult to get anybody to part with their physical metals for suddenly low prices (unless they're desperate).

[FoxV]

getting technical, the next support level for gold is around $900 and silver is $17 (which look like the targets for this current route).

If those supports fall (which will suck for my Miners ETF) the next supports are $775 and $14 (ish). Although with a 0.75% cut and another 0.5% expected at the end of April, I can't see gold and silver dropping much more than they already have (Personally I can't believe they've dropped at all, but hey, that's just the way it goes)

I'm also hoping to get in on some Silver bullion with this drop as well. Finances prevented me from filling my Silver quota for last year (when it was $12/oz) and I've been feeling a bitter about that ever since

btw, on another note of silver. The "Classic" ratios between gold, silver, and copper have been 16 (pre US gold standard) which I believe pretty much reflects rarity in the Earth's crust.

So using copper as the base with a current price of $3.7/oz:

Copper .. Silver .. Gold
1 ............ 16 ...... 256
$3.7 ....... $60 .... $950

So here you can see, Gold and Copper pretty much line up with the classic ratio, but silver with its current price of $19 is way out of line and an incredible deal.

edit---
oops, copper is $3.7/lb

[roccman]

Bucky base jumping again...

http://quotes.ino.com/chart/?s=NYBOT_DX&v=s

[Jenab6]

$this->bbcode_second_pass_quote('Micki', 'Y')ep, Up $28 today....per ounce that is. Not sure how much it is up per gram. Check that other link.

[alecifel]

$this->bbcode_second_pass_quote('', 'S')o here you can see, Gold and Copper pretty much line up with the classic ratio, but silver with its current price of $19 is way out of line and an incredible deal. -- FoxV

[billg]

$this->bbcode_second_pass_quote('', '[')b]Chinese exporters shun flagging US dollar in favour of stronger rivals
By Robin Kwong in Hong Kong
Published: March 28 2008 02:00 | Last updated: March 28 2008 02:00

Rising numbers of Chinese exporters are shunning the US dollar or devising ways to offset the impact of the falling currency as they confront rising labour and raw material costs at home.

According to Alibaba.com, the online company that matches Chinese suppliers with international buyers, the vast majority of their almost 700,000 Chinese suppliers no longer use dollars to settle non-US transactions in order to minimise foreign exchange risk.

"They are moving to euros, pounds, Australian dollars or even quoting prices in renminbi," David Wei, chief executive, told the Financial Times. Moreover, he added, prices quoted in dollars were now often valid for just seven days compared with the 30-60 days common previously.

The dollar has long been the currency of choice for Chinese and other exporters around the world. However, the impact of its recent weakening has led exporters to begin questioning its place as the de facto world currency.

The renminbi, which western governments have long alleged is undervalued, thus giving Chinese exporters an unfair advantage, has appreciated 6.7 per cent against the US dollar in the past six months. Economists expect it to rise 10-15 per cent against the dollar in 2008 and it is expected to rise a further 10 per cent in value this year, according to Qing Wang, economist at Morgan Stanley China. He warned that pace could quicken to more than 15 per cent should inflation in China, already running at a high level, continue to climb.

Quanzhou Leething Garment & Knitting, a Chinese men's underwear factory, said it had started encouraging clients to pay in euros instead of dollars in November. While the Chinese currency has appreciated against its US counterpart in recent months, it has moved little against the euro. Orders placed in US dollars are now subject to having their prices adjusted according to the latest exchange rate just prior to shipping, said a company spokeswoman.

Dongguan Wang Cai Garment, based in the southern Chinese province of Guangdong, exports mainly to Europe and quotes prices in US dollars but this year began updating their quotations every week.

Other companies have taken more unusual approaches, such as setting their own exchange rates and, therefore, in effect raising prices.

Xiao Zheng, chairman ofDongguan City Shima Toys in southern China, said its price quotations were valid for three months but were calculated based on an exchange rate of Rmb6.6 to the dollar.

With the official exchange rate at Rmb7.01 to the dollar yesterday, this in effect raised prices 5.8 per cent.

"We are thinking about renewing our quotations every other month and we are also going to offer quotations in euros very soon," Mr Xiao said.

Bruce Rockowitz, president of the trading arm of global supply chain company Li & Fung, said many Chinese companies still favoured US dollars because "everybody is used to using [that currency]. But it all comes out in the price."

William Fung, managing director of Li & Fung said international buyers would have to accept higher export prices from China, especially for goods such as toys that are largely made only in the country.

"The final result is they will buy at a higher price, but at lower volumes," he said. Mr Fung added that retailers are mitigating the effects of higher costs by locking in proprietary, or exclusive brands, which in turn allows them to charge higher prices to consumers.

[AlCzervik]

71.41 last I saw. Not good, is it?