What's up Gold just broke....

Comments

• DrWho Posts: 562 ✭✭

  June 23, 2005 5:42AM

  Track it against both the buck vs euro, and barrel of black gold.

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• AgMe Posts: 881

  June 23, 2005 5:42AM

  I used to think gold would be ~$375 USD by Aug., but now I'm beginning to think it might get up to $500+ (USD) soon!
  
  ~g

  I listen to your voice like it was music, [ y o u ' r e ] the song I want to know.
  
  
  
  I'd give you the world, just because...
  
  Speak to me of loved ones, favorite places and things, loves lost and gained, tears shed for joy and sorrow, of when I see the sparkle in your eye ...
  and the blackness when the dream dies, of lovers, fools, adventurers and kings while I sip my wine and contemplate the Chi.

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• Steve27 Posts: 13,275 ✭✭✭

  June 23, 2005 5:45AM

  Simple, I just sold a gold sovereign at BV last week. If I sell some more, I'm sure it will go higher (always happens to me).

  "It's far easier to fight for principles, than to live up to them." Adlai Stevenson

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• ScarsdaleCoin Posts: 5,331 ✭✭✭✭✭

  June 23, 2005 6:15AM

  the big power players that track it also estimate $500.....

  Jon Lerner - Scarsdale Coin - www.CoinHelp.com

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• ttown Posts: 4,472 ✭✭✭

  June 23, 2005 7:28AM

  I purchased another 8 $20 gold pieces when Gold dipped below $420 now if I can just learn to turn them over when gold nears peak and buy them back on the corrections, just the collector in me I guess. I haven't brought the same year/mint mark so it's going to be hard.
  
  Really IMO I wouldn't buy gold now. A better play would be get into a mining fund like-Scudder Gold & Precious Metals (SGDBX). These stock are very cheap and haven't rebounded yet although gold has. They are still off 25% of there highs of late last year. These stocks will take a huge jump if gold starts marching toward $500 and have much more upside than Gold at this point IMO.

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• KurtHorn Posts: 1,382 ✭

  June 23, 2005 7:35AM

  Price of oil broke $60 a barrel today. When oil jumps like that fear for the economy does too, thus gold jumps as well. If oil doesn't come down - $500 an ounce for gold by August is certainly possible. I wouldn't count on it though, it'd pull the whole economy into a slide.

  "Don't bother just to be better than your contemporaries or predecessors. Try to be better than yourself." - William Faulkner
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• ttown Posts: 4,472 ✭✭✭

  June 23, 2005 7:50AM

  Actually it looks like Gold has started to de-couple itself from the USD and Euro. I dumped $40k worth of BP last week when it hit a little over $64 a share. I have quite a bit more than that so I'll average up or down depending on the trend. If I were going to bet and from the past an announcement will settle down oil for a little while and BP will drop below $60 a share at which time I'll be buying again. I play the dips and make good money at it.
  
  Understand this is my 401k and it's limited what I can do or should do. I do believe that most of us baby boomers are looking to preserve our assets at this point in our lives and the big ups and downs will drive many to Gold as a stable asset. Many countries are now doing this too.
  
  I could be wrong but I'm putting my money where my mouth is. It's tough when your buying something and everyone’s is telling you your a fool like “Gold is going down to $375 so why you buying it”? I've only lost money when everyone thinks something is a sure thing. By the time "JOE PUBLIC" has enough nerve to invest it's time to dump the parties over.
  
  I really didn't want to post on the big thread but "peak" oil is here. The only one oil company to replace there reserves last year was BP. They are doing it by going to unstable parts of the world. There will be some "smoke and mirrors" for the public but the reason countries like China are wanting to buy Oil and mininig Companies is to get rid of the dollars for a real assest. Wait and see.....

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