Gold Prices Collapsing!!!
Day 1,888, 15:41
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Published in Canada 
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by
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by chriswen
***Check for updates for this developing story***
Gold is seriously collapsing, no one on the markets is buying. Big orgs sell offers haven't been taking the slightest dent.
It has been approaching 333 for a long time. 333 was a support line cause of the exchange. The next support will be at 250 cc.
I haven't been checking but gold has dropped steadily and then there is this big order by Banco de Espana. They are selling are their gold reserves.
http://www.erepublik.com/en/economy/citizen-accounts/1209221
When we look at the offers page we see that gold is rapidly decreasing and now is at 280 cc!!!
As Faucoult says http://www.erepublik.com/en/citizen/profile/4474210
gold >>> 250cc in a few days
http://www.erepublik.com/en/article/gold-prices-collapsing--2197846/1/20
~Chain Shout~
UPDATE 15:42: It seems like many big orgs are liquidizing.
Banco de Espana has changed there offer to 282.999 and they have 3557 gold left.
Front Banka selling 200 gold (all reserves)
Balkan Platoon SO selling 300 gold (all reserves)
Update 15:48: Banco de Espana 3513.98 @ 265
Update 15:53 Balkan Platoon So 166.47@258cc
Front Banka 190.1 @ 263.998
Banco de Espana 3455.07@265
They either sold it on the other market or something.
Somehow rebounded to 300.
Recovery might bounce back up to 333.
Down to 285
Update 17:26
FFAAesp 435.9@290 (all)
Banco de Espana 1452.4@290 (they have 2k still in balance)
OS Los nicaleros 137.96@299.75 (all)
FFAAesp 399.9@290 (all)
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Comments
I wonder if attacks on local currencies can still happen with the actual monetary module
whats going on? plato bot is down or they got insider information?
once the admins see what is happening, they will likely put platobot back on. The limit to gold buying is also helping keep the price for gold down.
Means I can sell some of my RM companies and buy more gold \o/
o.o
...
eRepublik Fiscal Cliff of Platobot?
Gold is at 300 CAD now. GOLD DROP!!
gold will keep dropping until printing money with gold is feasible again.
Ha except that we have a global currency now, so how does that work?
it's dropping faster than a hooker's knickers on payday at the mine.
if you have currencies convert to gold , i dont think it will drop lower than 290 , it hasn't in three years .. this is no V1 where 1 gold = 30 CAD lol
Some obvious math
1g / 0.001g per CC = 1000 cc per gold
1g / 0.002g per CC = 500 cc per gold
1g / 0.003g per CC = 333 cc per gold (this was the latest sticking point)
1g / 0.004g per CC = 250 cc per gold (this is the sticking point we are racing toward now)
Margins are good now for new entrants into the money market, margins are crappy for those holding expensive gold (ie more than 333cc per gold). Margins will continue to shrink and stabilize as gold approaches 250. The bubble will grow and it will burst, and head for 200. Why 200?
Cost to print currency is 0.005g, this is significant because this is where in-game governments can act and affect monetary policy.
1g / 0.005g = $200
The price will meet resistance at $200 because countries will step in with their congress and their orgs to play the monetary market.
eRepublik Fiscal Cliff of Platobot?
lol
Plato did something... Removed / bought 70 pages with 0.003-SEK offers in one day.
I sold of 250 gold (almost all) last night at 320 cc when it collapsed and now I am waiting for profit!
Sounds to me like Plato is trying to starve those that don't play with their credit cards.
^
Remember when gold could fluctuate a few hundred every day?
Now, gold is only worth a few hundred. Please, oh please go back to being 3000 so I can get wealthy while everyone else fizzles away.
[removed]
I find little point in buying gold with real money right now.. It is worth so damn little lol...
Plus what is there to spend gold on these days?
They need to get off their ass and add in more content that sucks away the gold 😛
There is constantly gold being put into the game and yet so little takes it back out
Aleksander Sarkovic, I like green eggs with my spam.
Check this out, it's really funny. About adding a new economic module.
http://www.erepublik.com/en/article/new-economic-module-1-2198687/1/20
^