Gold hit a high today of $370/oz

Steve27

It's almost going up as fast as the number of posts to the " I made a bad deal" thread.

ara

I posted this on another gold thread today:

"With today's precious metals close, the intrinsic value of all my silver, gold and platinum coins is higher than what I actually paid for them! "

Steve27

"With today's precious metals close, the intrinsic value of all my silver, gold and platinum coins is higher than what I actually paid for them! "

That's actually sad when you think abut it.

ara

<< <i>That's actually sad when you think abut it. >>



yeah, right

MosesBlack

Buy gold on the rumor of war, SELL on the fact.

baccaruda

yeah i just sold all of my gold at $325 a few months ago. another brilliant tactical manuever.

cosmicdebris

Lakesammman

I'll sell you mine at cost......$400.

MrKelso

Yummy Yum Yum, It's Goodie Good Candy

agfox

I sold all my gold bullion at 347. It's just so risky when it gets above 350

And this is a risky time, god speed to the soldiers that have to leave so I can make a profit..

roadrunner

Where gold has been for the past several years has no true bearing on where it is going. Just because it's higher than it was 2 years ago, so what? Why has gold behaved so poorly from 1982 to 2000?
It had been driven to the far side of being just a commodity. And to ensure it stayed there the central banks have been selling off supplies whenever it rallied. Now that it is being driven towards the monetization side of the spectrum it has a whole different luster. It's true value compared to the value of our currency might be more like $800-1000/oz. This is what is driving the price. Gold is once again being hoarded to counter weak currencies and depreciating paper assets. Without the manipulation of central banks around the world, gold will finally seek a price commensurate with the values of inflated currencies.

The US money supply has been massively inflated during the past 10 years. Who thinks this should have no effect? And for most of the decade it didn't! Gold finally rising is just the natural outcome of this plus the weaker dollar. Large foreign holders of US securities of currencies don't like to see their holdings made worthless by the FED's unlimited printing press. They are converting their US dollars to Euro's and gold. That's simple survival. And the FED will continue to inflate the money supply to keep the our credit hungry life style alive. That is until something finally breaks. Something has to give. And tangible commodities have been the welcome recipient and gold in particular.


roadrunner