Gold is over 350 again

wayneme · January 3, 2003 2:14AM

Gold is over 350 again that's all folks your thoughts on gold

Geoman · January 3, 2003 2:18AM

Looks like I better finish up my thesis and report to the fly-in gold mine in Canada that a friend of mine is working at. They said if gold ever went to $350+, they would need to hire more geologists.

wayneme · January 3, 2003 2:22AM

good luck on the new job

eagle7 · January 3, 2003 2:34AM

Dont wait until the lines are a block long. Buy your 10.00 IND in ms64 and 65 now. Any other gold coin prior to 33 in ms 63 or above. This last spike up was a big move right at the end of trading and against a rising stock market. That is real strength.

MrKelso · January 3, 2003 2:39AM

Please see my attached subliminal message keep buying and think long term.

Watch Silver it is creeping up o n you.

wayneme · January 3, 2003 2:49AM

if you look around where else would you want your money to be
the market i don't think so
the interest rate not the Dollar which is falling as we speak
really gold and silver is the only game in site if you want to keep your hard earned wealth

barney · January 3, 2003 2:53AM

meanwhile, I'll sit on my 60-S $3 XF-45 NGC, 76-CC $20 NGC 55, 84-CC $20 NGC 55, '04 $2.5 PCGS 64, 91-CC $10 ANACS 62, etc...

how do you think these'll do in the gold boom?

I'm a collector 1st, but may need to sell in the spring...hopefully not, though...

a previous query indicated that the bullion fluctuations should have no affect-but doesn't bullion indirectly fuel the market?

Just a thought...

barn

wayneme · January 3, 2003 2:55AM

i say yes
the more people in this gold area the more they look around and see where the real money is

gmarguli · January 3, 2003 3:09AM

Ever ask yourself why gold is going up and what will cause it to go down?

halfnut · January 3, 2003 3:12AM

I thought the old saying was that gold aways go's up before a war, maybe I'm thinking of something else.

wayneme · January 3, 2003 3:18AM

i agree gold goes up before a war but look at the charts when did it start to go up
also look at the last time we when to bagdad did silver move or just gold ask you self why is this
then look around at everything else
where do i want my wealth

eagle7 · January 3, 2003 3:41AM

In my opinion gold is going up because of a major shift in Fed policy. That would be the policy of a strong dollar at all costs. Now they have backed off from that, Im not sure if it was because they had to do it but that is another argument for another time, and the dollar is much weaker which in turn raises the price of gold and makes it an attractive investment. This is not a short term thing like the spike in the earlier gulf war. Gold coins which have collector value should be a much more steady investment in the long haul, however if one were to review the price of ms65 saints or ms64 10 indians from 89 to 95 you would find a peak at the start and then a very stable price until gold fell below 400.00 an oz. When gold was 400 an oz those coins were double the price they are now. The pop of those coins is skewed, most are just shifted from holder to holder now. The price will zoom when gold hits 400.00. Already people bidding like crazy on ms64 and 65 gold coins on the computer in Heritage's Sig auction at the FUN.

MrKelso · January 3, 2003 3:45AM

COMEX February gold (0#GC

at 1200 EST was up $5.50 at $352 an ounce,
trading from $343.60 to $353.50. Gold shakes off morning weakness as funds
move back in. Move accelerates after London close as stop-loss buying
triggered over $350 with all eyes on the near six-year futures high at
$355.70 from December. Firm tone helped by surging crude oil prices and
rise in euro back toward Tuesday's three-year peak against the dollar.
Also, Dow Jones industrials pull back slightly after Thursday's 265-point
rally. Gold market still bulled up over prospects for another Iraq war,
with Pentagon saying Friday it ordered some of the 45,000 member U.S. 1st
Marine Expeditionary Force to Gulf region. Estimated volume at 1100 EST was
a light 15,000 contracts. Spot gold (XAU=) quoted at $351.50/2.10, up from
$345.75/6.45 at previous close. London's afternoon fix was $344.50.
SILVER
COMEX December silver (0#SI

soars 7.7 cents to $4.90 an ounce,
reaching highest since July 25 in $4.78-$4.915 range. Move mostly technical
on back of gold bull market, but improved economic picture also helping
silver as industrial metal. Volume busy at 11,000 lots. Spot (XAG=) at
$4.86/88, up from $4.80/82. The fix was $4.785.
PLATINUM GROUP METALS
NYMEX April platinum (0#PL

was $2 higher at $602 an ounce. Spot
platinum (XPT=) at $605/610. March palladium (0#PA

was $1.20 higher at
$241 an ounce. Spot palladium (XPD=) traded at $237/245.
COPPER
COMEX March copper (0#HG

jumps 1.05 cents to 72.85 cents a lb,
touching its highest since Dec 18 in a 71.65-73.30 range. Spot January up
1.00 at 72.40 cents. Futures soar with London copper on Chinese trade and
small-speculator buying, triggering buy-stops above 72.70 cents in the key
March contract. Metal demand from China seen supporting market after prices
dipped near year-end to technically oversold area below 70.00 cents. Volume
was 10,000 lots. LME three-months copper (MCU3) ends $21 higher at $1,611

Don't let that SILVER creep up on you!!!!!

theRiddler · January 3, 2003 3:50AM

"To sell To sell, that is a question to me,
I got in when gold was 280."

wayneme · January 3, 2003 3:51AM

http://www.kitco.com/ind/Appel/dec232002.html

this link above all
sold me on metals
if you agree ok
if not it's up to you but the writing is on the wall

wayneme · January 3, 2003 3:56AM

"To sell To sell, that is a question to me,
I got in when gold was 280

you can never lose taking a profit once it's done it's done
i think this is just the start but their is nothing wrong betting on a sure thing
profit is profit period

MrKelso · January 3, 2003 4:04AM

<< <i>"To sell To sell, that is a question to me,
I got in when gold was 280

you can never lose taking a profit once it's done it's done
i think this is just the start but their is nothing wrong betting on a sure thing
profit is profit period >>

I buy and sell on the dips only. Except for the rare Gold US coins. I never sell them, just the raw stuff. Example: if gold dips tomorrow by $10.00 i will sell eveything i purchased at $293.50 and the same day i might buy some more with the principle plus 20% of the profit.

Watch Silver it will creep up on you like a mugger in the dark and steal your handbag.

greghansen · January 3, 2003 4:18AM

I think 'war' is to restrictive of an explanation for gold's rise. All geo-political risk scenarious tend to produce strong gold prices. Worldwide terrorist risks, all of the South American shenannigans, and yes the waker dollar have combined to give us a 2 year steady climb in gold. I think it is a trend not easily broken. If it holds above $350 I think the next significant profit taking will be in the $375-$380. Gold traded in a tight range there from 1994-95 before briefly going over $400 in early '96.

wallstreetman · January 3, 2003 4:47AM

The beauty of buying Gold as opposed to buying Gold stocks or any stock, is that you pay no tax on your gains! Just make sure you pay no sales tax either!

wallstreetman · January 3, 2003 4:54AM

The only way you will do this in the Stock Market is to buy Options, and you better know what your doing!

cointagious · January 3, 2003 5:52AM

<< <i>The beauty of buying Gold as opposed to buying Gold stocks or any stock, is that you pay no tax on your gains! >>

wsm,
i hope you're not condoning tax cheating!

roadrunner · January 3, 2003 7:28AM

Gold is starting a major shift in thinking that will be long term. It is not going up because of the "war" or "conflict." It has been rising because of world economic conditions. And until those economic conditions get resolved, it will continue to climb as the only real store of value left in the world economy. That's the simple truth.

roadrunner

fantasiize · January 3, 2003 7:31AM

Gold is over 350 again

If you don't like that, just wait a few days, if you like it, don't wait too many days.

MrKelso · January 3, 2003 11:16AM

<< <i>The beauty of buying Gold as opposed to buying Gold stocks or any stock, is that you pay no tax on your gains! Just make sure you pay no sales tax either! >>

What a great benefit.

Gold is over 350 again

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