Metal markets / gold thread: gold hit $1,226.00; silver $19.47
Gold hits record $1,226.00/oz with continued dollar weakness
Monday 12/03/09
Gold hits new record
Gold hits another record high as demand for the precious metal shows no sign of abating.
1:49PM GMT 03 Dec 2009
Gold hit record highs over $1,225 an ounce on Thursday as the precious metal continued to attract investors looking for an alternative to the dollar.
Gold has risen by more than 7 percent since touching a low of $1,136.80 last Friday on fears of a possible default on debt in Dubai, which spurred investors to sell the metal to raisecash to cover losses.
Analysts say worries about Dubai's loan payment problems still linger, although they have been pushed to the backburner, with the dollar's persistent weakness coming to the fore.
Shuji Sugata, a manager at Mitsubishi Corp Futures, said gold continued to be lifted higher because investors believed the greenback would stay weak.
"The persistent view that the dollar will remain weak stems from moves to review dollar-based assets and the belief that interest rates will be stuck at low levels, and these are factors that remain unchanged," he said.
Spot gold XAU= rose as high as $1,226.10 per ounce by 0521 GMT before drifting downward to $1,219.90, up 0.3 percent from New York's notional close of $1,215.90.
US gold futures for February delivery GCG0 touched an all-time high of $1,227.50. The metal reached record highs in euro and sterling terms, according to Reuters data, indicating independent gold strength.
http://www.telegraph.co.uk/finance/personalfinance/6718214/G...
It's not gold hitting new
It's not gold hitting new highs, it's the dollar sinking to new lows. We can thank Bernanke and his friends in the Federal Reserve for this.
True, gold is going up
True, gold is going up against the FRN, but has gone up little against other fiat currencies for the moment.
Yes we can thank Bernanke and his friends in the Federal Reserve bank for this, but it is also the problem of government spending and the treasury notes. FRNs weren't necessarily printed in the past when the government issued treasury notes. They would simply issue them, go to the market and remove FRN's. Now many countries are no longer taking on more treasury notes and so the Fed is taking and holding the notes (paper) and printing what the government needs (other paper). The real problem is the government's borrowing of money. Military spending on foreign wars should be cut, spending to maintain mansions in the form of embassies abroad should be cut and like Ron Paul says, if this were done then there would be plenty of resources for bridges and medical services.
grant
gold now $1225.20; platinum at $1503
Amazing!
1222.10 lol Jim sinclair
1222.10
lol Jim sinclair said we would have 1250 dollar gold by 1-01-11
jzneff and jeff234560987 laughed... said Sinclair should retire and vial crap.. well boys, you are awefully silent now... where did all the big mouths go?
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
These are all real money.
Gold US$ 1220,400 up 0,38%
Silver US$ 19,350 up 0,57%
Platinum US$ 1511,500 up 0,06%
Palladium US$ 392,500 up 0,13%
Four legs are better than two.
grant
This is really scary to me.
This is really scary to me.
Tracy
~
A Way for Trey Grayson searchers to find Rand Paul
http://www.treygraysonforsenate.com
Trey Grayson For US Senate 2010 in Kentucky. See also http://www.jointreygrayson.com/ Spread these links around
I'm glad that I own precious metals
but I agree, the implications for the US economy and the world financial system are frightening. I think we may be witnessing the first signs of hyper-inflation. If all prices are increasing at this rate it will be devastating.
Freedom, Prosperity and Peace
Freedom, Prosperity and Peace
4 gold stars for you... gold
4 gold stars for you... gold is telling a story of not so happy a future...
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
Skyorbit: Your handle describes where all this is headed!
Everything except silver is all but out of reach financially.
Silver is the best bet to obtain. To buy the others, you'll need your own printing press.
I buy silver when I can at any price because it is 'real' money.
I have purchased 1/10th oz gold eagles for barter. I am not in it to speculate only to convert as much of my 'savings' into real money.
http://www.mngop54b.org/
http://www.mnlg.org
http://www.therootsofchange.com
http://www.cc2009.us
and this with the dollar
and this with the dollar Strengthening....
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
Buy palladium.
Gold is going up slowly, no big jumps, just steady growth. But notice that palladium is doing the same thing and better, up from $180 since June. Doubled your money if you took my advice. I figure with all the government projects out there, putting, palladium in demand, that it will surpass gold as it should since it is much rarer and there is much less above ground.
grant
grant: Your advice is appreciated.
I took it 10 months ago. Wow!
70+% up since.
Thanks.
Where is Richard Daughty "The Mogambo Guru"?
.
So where has Richard Daughty "The Mogambo Guru" been lately?
His last article was on 9/22/09
http://dailyreckoning.com/author/mogamboguru/
.
www.vaclib.org
.
.
www.vaclib.org
I heard he retired
Freedom, Prosperity and Peace
Freedom, Prosperity and Peace
And moved out of the country, perhaps?
.
.
www.vaclib.org
.
.
www.vaclib.org
Others of us have been wondering
the same thing.
Gold up again: $1,206.80; palladium $382.00
Metal Bid Ask
Gold $1,206.30 $1,207.30 up$7.60
Silver $19.17 $19.22 up $0.02
Platinum $1,484.00 $1,494.00 up $5.40
Palladium $380.80 $385.80 up $1.90
Updated:12/1/2009 8:07:04 PM CST
http://www.apmex.com/
http://www.kitco.com/market/
i just wanted to thank you again, SIERRA
for convincing me to buy when silver was still 14 ounce.
For those who weren't as fortunate, can still pull the trigger on collecting nickels. $400 worth of nickels takes about the same amount of space as a football, and you don't have to pay a premium to get them. Fill your closet up with boxes of them.
Just make a special order through your local bank. They may charge a small fee, but it's worth it.
the melting value of a nickel is about 5 or 6 cents at the moment.
If it turns out you need to spend it, then you can easily convert them back into FRNs. but if our money keeps inflating (and it looks like it will), then the nickel will start going "up" relative to the rest of the precious metals.
I will always
Thank Sierra for the education in precious metals. I made what I believe to be very smart moves and was even asked by John Hancock if I wanted a job!
"Obamney care," Nuff said.
Sierra~
Not sure if you are familiar with this site. Since you have turned me into a gold bug I have found very interesting articles here.
http://truthingold.blogspot.com/
"Obamney care," Nuff said.
Is COMEX the next
Madoff Disaster ?
Great article !!
"Obamney care," Nuff said.
it is... you watch here
it is... you watch here pretty soon.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
we are just at the
we are just at the beiginning of this move.. I honestly think gold will hit between 5000.00 and 10,000.00 and silver will hit between 500.00 and 1000.00 as you can see silver is the way to go.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
Palladium is the best buy.
I think you may be right that gold will go to $5000 dollars an ounce, but I think silver will probably go up to perhaps $70-$100 an ounce. This of course assuming that the Fed continues to print money. Now as for palladium, if gold hits $5000 an ounce it has the prospect of selling for anywhere from $1700-$9000 an ounce. I believe more like $9000 if the government continues buying as it has been with the stimulus package. SInce June palladium has risen from $180 dollars an ounce to $390 an ounce, well over 100%.
grant
remember... there is no
remember... there is no record naked short position on palladium Grant.. that is where you need to be educated...
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
True but...
Not a paper speculative short, but if enough demand is created there will be a real shortage on the market. Just as effective.
Matthew 5 : 33-37
Do not make any vows! Do not say, 'By heaven!' because heaven is God's throne. And do not say, 'By the earth!' because the earth is his footstool. And do not say, 'By Jerusalem!' for Jerusalem is the city of the great King. Do not even say, 'By my head!' for you can't turn one hair white or black. Just say a simple, 'Yes, I will,' or 'No, I won't.' Anything beyond this is from the evil one.
what is palladium used for?
what is palladium used for? catelitic converters// what else?
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
Fuel cell technology for one thing.
If your interested, perhaps you should study. I have written much on palladium in the past here at Daily Paul.
But as you know, palladium is money, as is silver, platinum and gold. You could ask the same question about platinum, what is it good for? And platinum is not much rarer than gold. Palladium is rarer than them all and can substitute platinum in most all cases.
grant
silver will go way past your
silver will go way past your numbers... you have not read up on silver..
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.