Post # 1
so i dont understand how the stockmarket works all that much but i read an article just now saying gold is hitting a 30 year low and that investors were jumping ship. this struck me as funny because the lady at the jewelry store on saturday kept saying to buy now because the price of gold is going up up up. (i know, obvious sales ploy). BUT was she right? or wrong? i dont know what it means for consumers if investors r abandoning the gold market, anyone know?
Post # 3
@BeeG35: Gold fell 9.5% today to $1361 per ounce.
The biggest two day drop-precentage wise- was in 1983 which is 30 years ago. This is probably what she is referring to. But the price od gold was waaaaaaaaaaaaaay less in 1983.
The all time high was $1888.40 in August of 2011.
Post # 4
Post # 5
Does this mean the price for consumers goes down too? Cuz Gordon’s prices on gold bands have been exactly the same for a year!
Post # 6
@BeeG35: Not really. It can’t always mean that. The stock already in the stores was purchased at the higher rate (theoretically) so it takes a long sustained drop before it trickles down to the consumer – and only then if they aren’t overly greedy.
Post # 7
Ahh well good to know. Thanks for the insight!