Gold at $700

theboz11

And the Chinese are now going to Quadruple their gold Reserves. I believe this has just begun it's run for a few years.

Numismatics

World is so crazy now.

Aethelred

There was a bit of a frenzy at the shop today because of this!

AuldFartte

<< <i>World is so crazy now. >>



No kidding

coinkat

I am going to remain neutral on this...

Gold hit $800 in the 1980 time frame... how much was gas then? 80-90 cents? maybe 1.00? What was the value of an average home? Well, if we think of gas in the 2.90-3.50 range and the value of a home, then 700 is reasonable... or is it?

ROBERTB

I believe silver could be significantly more profitable then gold. Right now silver is around $15. I see the trend rising until a target price of $35-45/oz..

trozau

Damn barbarous relic!

ajaan

As 'kat implied, not even close to the $800 in 1980 when considering inflation.

DeutscherGeist

If China does increase its gold reserve, then gold will rise for a few more years. However, I don't know if they are going to do that. Sellers of gold who advertise want you to believe this, but what are the actual facts. The World stopped backing their currency with gold and based it on their economy. The Chinese economy is growing every year by leaps and bounds and their currency gaining strength.


Gold has been around $400 an ounce for a decade and now this sudden jump. I thought Gulf War I and II would have an effect but it did not. Sept 11 really did not effect it either. Now Iran is effecting it? I think gold has been undervalued for a long time and is now beginning to adjust to a more real value. However, the price is going up too fast, so I think there is a lot of speculation driving the price upwards, not its actual value.


I am no expert in this, that's my 2 cents.