According to this graph the gold price is now over 48K CHF/kilo, thank you SNB....

did you find it?

So gold just fell of a cliff & nobody had anything to say! $1763 down over 5 %

I think Obama said something

GLD is down 3.78% so far today. GLD is an ETF that closely follows the spot price.

http://stockcharts.com/h-sc/ui?s=GLD...d=p25542587791

Horribly overbought. Correction was due.

Next support is at $168 to $170.

Probably just profit taking; likely long term trend is still up. The underlying driving factors are unchanged.
Gold rose 6% last week so a 5% fall does not take it back more than a few days.

James Turk talking to Egon von Greyerz, of Matterhorn Asset Management about gold, the Euro and Switzerland among other items.
I found this to be a useful conversation.

http://www.youtube.com/watch?feature...&v=w4orbhaCXKE

Above $850 many mothballed mines will be reopened, the amount of gold above ground could double, the share price of mines has not risen very much indicating a long term price below $850.
Fun times ahead, any big falls will shake out the mama & papa investors , just as it always does on the stock Market . Buy high sell cheap is the small investors motto, they just follow trends & will always loose.

yup. i bought a house in switzerland with 10 year fixed debt. not sure the fix is long enough, but hoping that the SNB inflationary policies will erode a big portion of the debt -it's a bit of a gamble. since it's a big investment, i don't need to actively look for investments to stash money. project will payback the initial investment after 6 years so not too bad.

Something tells me the gold miners will not double the amount of gold above ground quite as quickly as the printers will double the amount of fiat currency. In which case the price of gold should still rise.

it took an long time to get the current gold we have above ground and that was the low hanging fruit. i think it would take a long time to double the amount of mined gold.

On this subject: a quote from Prof. Antal Feteke - May 30 2007

Well for 25 of the last 30 years the price to extract gold exceeded it's sale price in most cases so very little was mined . The higher the price goes up the quicker the supply will be increased, it's not that rare just expensive to mine & costs money to hold. Quite why anybody would pay more than it costs to produce is a mystery, same as why Swiss cars are worth more !

The World's Press: "The gold bubble has finally burst"

Yeah, like screw your heads back on you Charlies.

Here's today's Chart of the Day....

Even if the production could be doubled from todays level (which is the highest production level for many years) it would take 30 years to double the amount of gold above ground

CHF version

The World's investment experts say: "Gold is not a good long term investment.

Reality: Even in the recent past, since 1970, gold has risen from $35 to nearly $1,900 for a compounded return of 10.5% pa - beating any other standard investment class by leaps and bounds.

If you had bought 10 years later, when the price was $700 you would not be so happy.

London property has produced 10.5% (and better if you had a big house) compound since 1960.

A big house would've needed refurbishing if bought in 1960... gold needs no maintenance

And that was my 100th post!!