Update: Gold price at new record: $1,095.50.
As of 11:25 am ET.
11/3/09: Something just happened...Gold went way up at 10:50 ET.
With the dollar continuing its downward spiral, gold will go up.
Metal Bid Ask
Gold $1,094.50 $1,095.50 up $9.60
Silver $17.49 $17.54 up $0.34
Platinum $1,369.00 $1,379.00 up $21.80
Palladium $328.80 $333.80 up $5.10
Updated:11/4/2009 9:27:25 AM CST
Gold Climbs to Record as India’s Central Bank Buys IMF Bullion
By Claudia Carpenter and Pham-Duy Nguyen
Nov. 3 (Bloomberg) -- Gold jumped to a record after India’s central bank bought 200 metric tons of the metal from the International Monetary Fund, heightening speculation that there may be more official purchases.
Gold futures for December delivery rose to a record $1,087 an ounce on the New York Mercantile Exchange’s Comex unit and traded at $1,084.20 at 1:28 p.m., up $30.20, or 2.9 percent. A close at that price would be the biggest gain for a most-active contract since March 19.
“This will encourage other countries and other investors, especially Indians, who are big buyers anyway, to jump into the market,” said Leonard Kaplan, the president of Prospector Asset Management in Evanston, Illinois.
The Reserve Bank of India paid $6.7 billion for the bullion, which it bought from Oct. 19 to Oct. 30. It was “the biggest single central-bank purchase that we know about for at least 30 years in such a short period,” said Timothy Green, the author of “The Ages of Gold.” “The only comparable event was the U.S.’s steady purchases in the 1930s and 1940s.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=aoGPCVrF...
Peter Schiff on the
Peter Schiff on the Gold:
http://www.youtube.com/watch?v=Aicc3siQiHQ
~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~
shorts could be trying to
shorts could be trying to cover?
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
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.
They are crying or considering something more serious.
If every person bought an ounce of gold right now, what happens to the price?
You know all to well!
Why is silver not at least at $20?
Why hasn't it followed the up moved of gold?
Silver is a smaller market
and is easier to control. One could make the observation that the silver market makes the gold market look "genetically diverse."
--------------------------------
"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
----------------------------
dead banksters
http://www.dailypaul.com/node/107337#comment-1170881
--------------------------------
"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
----------------------------
very true.. the silver
very true.. the silver market has a larger short position on it then gold does.. if the silver shorts are overrun the gold follows.. I would not be a bit surprised to see the silver COT'S much higher.. I think they are letting gold go in order to stop silver.. they are running out of ammo.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
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.
1089.10...
1089.10...
~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~
http://www.dailypaul.com/...
http://www.dailypaul.com/node/110303
Im sure we will be seeing a "PETER SCHIFF" update tonight
For Freedom!
For Freedom!
STUGOTS! To the high and felutent establishment!
Paultian Powerhouse!
Yeah, I'd really like to
Yeah, I'd really like to hear what he has to say about all this.
...
... and the dollar index is
... and the dollar index is up.
By Friday, a lot of people
are going to be asking,
"WTF happened?"
Going Higher
Again!
Fox Business
just said that India bought 200 metric tons of gold today!
Freedom is NOT free!
That sale just occurred.
http://www.dailypaul.com/node/113124
IMF Announces Sale of 200 metric tons of Gold to the Reserve Bank of India
Press Release No. 09/381
November 2, 2009
The International Monetary Fund announced today the sale of 200 metric tons of gold to the Reserve Bank of India. This amount represents almost half of the total sales volume of 403.3 metric tons that was approved by the Executive Board in September (see Press Release No. 09/310).
“I strongly welcome this transaction with the Reserve Bank of India,” Managing Director Dominique Strauss-Kahn stated. “This transaction is an important step toward achieving the objectives of the IMF’s limited gold sales program, which are to help put the Fund’s finances on a sound long-term footing and enable us to step up much-needed concessional lending to the poorest countries” (see Press Releases No. 08/74 and No. 09/268).
http://www.imf.org/external/np/sec/pr/2009/pr09381.htm
Gold is Money
Governments know this. As the dollar falls, wouldn't you want to diversify your reserves to include gold?
We are entering a period where it will become increasingly recognized by governments around the world that their currency needs more gold backing. Under that assumption, the price of gold has a long way to go up.
Hey does
anybody have the list Bookmarked of all of those cool sites. It was a list of over 100 sites...I lost the bookmark...
321Gold.com
24hrGold.com
etc..
IT was posted on the DP awhile ago.
I wish I could
buy at $1085.00 an ounce......(American Eagles) look at this.....
http://www.apmex.com/Product/48683/2009_1_oz_Gold_Eagles___B...
Ouch
Eagles are a different
Eagles are a different product than bulk gold, so it's not directly comparable. Even the buy price on that site, at $1105, is $20 over gold "spot".
The lowest rates I'm aware of for retail investors, are at goldmoney.com, but you don't get physical possession. Especially if you buy quite a lot, they have good prices. Still ought to be lower, and probably will be once others get into their business, which relies on keeping the gold inside the Good Delivery system. Some of you gold bugs here should look into setting up a competitor. I bet you those guys are raking it in, now that volume and interest in gold investing is increasing :)
Another neat feature is their gold gram payments, which, if the dollar truly does collapse, may become a more generally accepted way of paying for things.
I have absolutely no affiliation with those guys at all, but do like their service, as well as the idea of keeping some savings in the form of metals in a Swiss vault. Not that the Swiss are all that anymore when it comes to standing up to the Wall Street banksters and their enablers, but I still trust them to protect my savings a lot more than I trust our homegrown banks who will roll over for any sleazy lawyer fishing around for some green (or yellow.)
Gold money wanted to know
Gold money wanted to know (among other things) where I got the money I was going to invest. I told them it was none of their business and that there were other places that I could buy gold that would respect my privacy.
ofcourse this is normal for
ofcourse this is normal for me.. when I wanted silver to rocket it didn't. now that I want it to come down it goes up....
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
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.
maybe people will start
maybe people will start listening to Jim Sinclair more..he is calling it.. he says gold will trade at 1200 on or before Jan 1 2011.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
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.
1085.00 A prudent man
1085.00
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
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.
This is insane....
$1100.00 an ounce anyone???
1087.60...
1087.60...
~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~
1086.50...
1086.50...
~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~
the imf is selling 200 tonnes
to india and china is buying buying buying. gold to 2000
Yeah man! I just popped on and was surprised
The dollar is still rising a bit but Gold is cruising....What gives?
For Freedom!
For Freedom!
STUGOTS! To the high and felutent establishment!
Paultian Powerhouse!
Also saw the spot price up so what did I do next....
Jumped on the Daily Paul of cousre!
For Freedom!
For Freedom!
STUGOTS! To the high and felutent establishment!
Paultian Powerhouse!
1084.90US$ now...
1084.90US$ now...
~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~
Free Markets Are A Prediction Of The Future.
*
The majority of players are pitted against each other. { The Bulls vs The Bears }
If the majority of bidders are bullish, prices go up, if the majority of bidders are predicting the product being bid on is going to "Gain" in value, prices go up.
Goldman Sachs and cronies being investment bankers, make a profit on every trade, it's called a commission.They make more money in commissions when the markets are unstable. { Lots of trades }
What is the rising Gold price telling us?
That a large majority of investors, big and small, are concerned about protecting the "value" of their investments, by investing in Gold, the money of Kings !
beesting