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Here we are again, Gold blows thru $800

theboz11theboz11 Posts: 6,576 ✭✭✭
in World & Ancient Coins Forum
This freight train is getting stronger. image
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  • trozautrozau Posts: 3,455 ✭✭✭
    $800 is a major psychological resistance for gold. $1,000 may be the next one above. Got gold? image
    trozau (troy ounce gold)
  • LynchLynch Posts: 299
    The sun is not going down, the horizon is moving up.

    Gold is not going up, the dollar is going down.
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  • trozautrozau Posts: 3,455 ✭✭✭


    << <i>The sun is not going down, the horizon is moving up.

    Gold is not going up, the dollar is going down. >>


    Gold is going up across all currencies. You are right, the buying power of all fiat currencies are going down (even more so the US$) and the way to preserve your wealth is to have some gold.
    image
    trozau (troy ounce gold)
  • theboz11theboz11 Posts: 6,576 ✭✭✭


    << <i>The sun is not going down, the horizon is moving up.

    Gold is not going up, the dollar is going down. >>



    All the more reason to convert your dollars to gold.
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  • StorkStork Posts: 5,206 ✭✭✭✭✭


    << <i>Got gold? >>


    Wish I had more!

  • trozautrozau Posts: 3,455 ✭✭✭


    << <i>

    << <i>Got gold? >>


    Wish I had more! >>


    Me, too! image
    trozau (troy ounce gold)
  • CruziCruzi Posts: 460


    << <i>Gold is going up across all currencies >>



    Not if you come from a resource economy, especially one that produces a lot of gold image
  • trozautrozau Posts: 3,455 ✭✭✭


    << <i>

    << <i>Gold is going up across all currencies >>



    Not if you come from a resource economy, especially one that produces a lot of gold image >>


    I checked out Canada/US exchange rate and gold spot from January 2 and November 2 and got the following:

    01/02/2007 Tuesday 1.00 USD 1.1649 CAD 1 TR OZ AU USD$639.60 CAD$745.07

    11/02/2007 Friday 1.00 USD .9360 CAD 1 TR OZ AU USD$806.00 CAD$754.42
    trozau (troy ounce gold)
  • CIVITASCIVITAS Posts: 2,256 ✭✭✭
    But isn't the value of gold measured in fiat currency?

    Hmm....

    Ow, I think I just sprained my brain.

    image
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  • trozautrozau Posts: 3,455 ✭✭✭


    << <i>But isn't the value of gold measured in fiat currency?

    Hmm....

    Ow, I think I just sprained my brain.

    image >>


    During those rare moments when a fiat currency tanks and becomes valueless, I would rather have some gold than just fiat currency without value other than for kindling. image
    trozau (troy ounce gold)
  • theboz11theboz11 Posts: 6,576 ✭✭✭


    << <i>But isn't the value of gold measured in fiat currency?

    Hmm....

    Ow, I think I just sprained my brain.

    image >>




    Gold always holds its value while the fiats run around it. Does that helpimage

    SOME fiats run longer and stronger than others, but they all end up in the same JUNK YARDimage



    Those that don't buy now will be kicking themselves for not getting in on the cheapimage
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