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August 25th, 2011 
FAKE NEWS for the Zionist agenda 
Bloomberg
August 24, 2011
Gold plunged in New York, heading for the biggest drop in 18 months, on speculation that financial markets may be stabilizing, eroding the appeal of the precious metal as a haven.
Bullion has tumbled more than 5 percent in two days, erasing gains in the past two weeks that sent the metal up as much as 16 percent since Aug. 5 to a record $1,917.90 an ounce yesterday. On Aug. 16, Wells Fargo Co. said rising speculative demand from investors had pushed the market into a “bubble that is poised to burst.”
“This is liquidation from a crowded trade,” Adam Klopfenstein, a senior market strategist at MF Global Holdings Ltd. in Chicago, said in a telephone interview. “In the short run, there’s more optimism and that doesn’t bode well for gold. Investors have been using gold more as a fear barometer than a proxy for inflation.”
Gold futures for December delivery plunged $72.30, or 3.9 percent, to $1,789 an ounce at 12:11 p.m. on the Comex in New York. A close at that level would be the biggest loss since Feb. 4, 2010.
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Home Prices Decline 5.9% in Second Quarter
Home prices in the U.S. fell 5.9 percent in the second quarter from a year earlier, the biggest decline since 2009, as foreclosures added to the inventory of properties for sale.
Prices dropped 0.6 percent from the prior three months, the Federal Housing Finance Agency said today in a report from Washington. In June, prices retreated 4.3 percent from a year earlier, while increasing 0.9 percent from the previous month.
Foreclosures are boosting the supply of properties on the market and undercutting the confidence of homebuyers, sapping demand even as mortgage rates tumble to the lowest in more than half a century. The U.S. inventory of homes for sale averaged 3.7 million during the second quarter, the highest since the third quarter of 2010, data from the National Association of Realtors show. The mortgages on 6.5 million U.S. homes had late payments or were in foreclosure in June, according to Lender Processing Services Inc. in Jacksonville, Florida.
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7 Responses to “Gold Tumbles Most Since December, House Prices Down 5.9%”
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It turns out the CME hiked gold margins by 27%, one day before options expiry. See zerohedge dot com.
Well, the “gold bubbler’s” are bubbling over with excitment with the recent down-turn in the gold market. Since early 2004 they’ve played (prayed) this tune; “It’s bubbling over, get out, get out” and every single time they’ve been dead wrong. These last two down-days in gold do not make for a new direction in gold prices. This folks, is a new and very welcome buying signal and a reason to hang tight for those who have maxed out their buying capital. These gold-less bums have broken all records of egg on their face. It will prove once again that their horse in the race has no teeth. The economic fundamentals of last week have not changed since last Friday and policies of the recent past are still captive to the past. Bernanke is a one trick pony and some form of stealth QE3 is his only course of action to forestall a much worse depression. But either way he chooses, print or not to print it doesn’t look good for gold-less bums.
Glen Reply:
August 24th, 2011 at 8:03 pm
More likely a sign of MARKET MANIPULATION by the Banks.
The fundamentals have not changed. Hugo still wants more gold than they have to hand.
roberth70 Reply:
August 24th, 2011 at 9:20 pm
Well yes, there is a hugh array of reasons for gold’s price action. Market manipulators watch and wait for the right moment to hammer it, then coordinate from London at early light to the Comex in NY. The signal that this a hammer-day works for a few days but in a real bull market the world wide market’s demands will be waiting for these sell-off moments to buy-up the London/US dump. In the end the world market is bigger and they deal in actuals, whereas the London/US market goes into the paper market of the Comex. Paper trades….futures and such have less and less appeal to the world market. They’ve got paper coming out of their ears these days. They’re wiseing-up as Chavez has recently shown.
Well of course the price of gold dropped like a rock. The banksters just stole 200 tons of it from Libya’s treasury. 200 tons has a tendency to dilute the market just a tad. Its official, they think we’re stupid.
Glen Reply:
August 24th, 2011 at 8:04 pm
They will have to ship it to Hugo Chavez just to break even.
Explains why the troops went in so quickly.
also explains why jobs is pulling out of apple.
I bet he is running to his personal mountain hideout to ride out the coming nuclear armed terrorists.
Once the yellow-cake explosive specials make their way around the world thanks to Obumbles, it will just be a matter of time before they walk a few thound pounds of that stuff through mexico and up into the us heartland.
Then it will be dirty-bomb heaven and muzzies screaming allan-arkbra in the streets, coming to a city near you just in time to declare martial law and King of amerikka will have some more time to play golf.