Quote:
Originally Posted by Houdini
The only thing that could deter gold surging short term is if CME does a margin hike due to volatility. They did the same thing to silver back in May and it dropped from $50-32. Don't think gold would take such a hit, but a 5-10% correction wouldn't be unheard of. With the destruction of the dollar looming, PM's, long term, will steadily increase though.
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Right on cue! CME raises margin 22% starting after hours today. Gold falls $40 dollars. They're going to do the exact same thing they did to silver in May. Next, Bernahke, will come out with some new QE3 type deal and send PM's down. They're doing everything they can to get countries from dumping the dollar and going into gold.