Re: General Discussions
Reply #2467 –
The world media is doing it's best to scare the shizen out of mum and dad investors, claiming Gold and Silver prices are in free fall, they report the drop in $ terms because the $ number is big, For gold reporting a drop of 10% / ounce isn't as dramatic as reporting a fall of $500/ounce.
As a percentage it's nothing unusual, the problem is dressed up by the media because of the record price per ounce, they'll report a record drop in $ units for sure, but as a percetnage it's nothing unusual and has happened before. Of course panic selling takes place from small investors, the price drops, and the same coorporate Clark Kents who cried wolf are the ones buying on the cheap.
Also, an ounce isn't an ounce. Put the figures into standarised units, use $/gram or $/kilogram, because metric units are the same in every market. An ounce might be a Troy Ounce or some other Ounce, and the media is known for cherry-picking the units to maginfy the effect.