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Gold is up, its down, its up, its down, its up... 1100 today?
Submitted by paul4won on Fri, 11/06/2009 - 09:39
http://www.kitco.com/charts/livegoldnewyork.html That is a pretty good see-saw so early in the day. » |
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Somewhere down the line gold
Somewhere down the line gold and the Dow will will be equal.
“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds”
-Sam Adams
“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds”
-Sam Adams
1093.98
She's up, she's down
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
1102.30...
1102.30...
~~
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.
~~
I briefly printed 1100 at
I briefly printed 1100 at around 9:30 AM. 1095 now.
Gold breaks $1,100
By Ben Rooney, CNNMoney.com staff reporter
10:44 am EST, Friday November 6, 2009
Gold powered through $1,100 an ounce Friday after the U.S. government said the nation's unemployment rate rose more than expected last month, fueling demand for the metal as a safe haven.
December gold jumped $7.80 to 1,097.10 an ounce after surging to an all-time high of $1,101.90 an ounce earlier.
Prices spiked after the Labor Department said the unemployment rate rose to 10.2% in October from 9.8% the month before. That marks the highest level since April 1983. Economists had forecast an increase to 9.9%.
Gold rally to continue. Gold is benefiting from a "flight to quality," said Adam Klopfenstein, senior market strategist at commodities brokerage firm Lind-Waldock.
He said investors who were expecting an economic recovery "threw in the towel" after the jobs report. At the same time, investors who think the economy will continue to worsen "want to own something tangible."
"It looks like the market is giving gold the green light regardless of what's going on in equities or the currency markets," he said.
Gold could come under pressure as investors book profits following the push above $1,100, but the market has a "bullish fundamental case," Klopfenstein said.
Prices have soared 5% this week amid speculation that overseas central banks may be moving toward buying more gold as they look for ways to reduce their exposure to the U.S. dollar -- the traditional reserve currency of choice for many of those foreign central banks.
http://finance.yahoo.com/news/Gold-breaks-cnnm-4046795075.ht...
Gold is today's internet business stock
In the past 7 years, gold has increased around 15% per year...compared to other investments, that is great. However, for the past 75 years, gold has been a bad investment.
What happened?
Gee, 9/11 and the bad economy happened and lo, people got so scared that the US economy was going to tank, they sought out something they *felt* secure with. Then a monsterous advertising campaign to buy gold came out. Thus, lots of people bought gold...oh not real gold, mostly gold stock...commodities...a piece of paper (or some number on a screen).
First of all, if the US economy tanked, gold would be useless. Water, food, seeds, guns, and other immediate survival stuff would be the currency of the day. Soon after, some country would swoop in and take over and we'd all be on their currency...and it wouldn't be gold.
So we are currently seeing an unnatural bubble in the gold market. We've seen bubbles before. In the 90's there was an internet business bubble. In the last few years, there was a housing bubble. What happens when these bubbles burst? A lot of people lots a bunch of their money.
Make no mistake, this gold bubble is fueled by fear. The fear is manufactured by several major players (primarily the controlled media). It costs money to keep the fear going. This cost motivates them to pop the bubble at the appropriate time. Once their formulas determine they have maxed out on profits, they will sell and they will immediately stop the fear campaign. Then lots of people will lose their shirts...as waves of ignorant, gullible people have lost their shirts in the past.
Trying to time market bubbles is more idiotic than trying to time a single stock. You know damn sure that the bubble will burst at some point.
Also, the people who invest in gold are actually profiting off of fear. They hope the fear not only keeps going, but they hope it gets worse! Only if the fear gets worse will the price of gold continue to go up. Many actually want another 9/11...and those that are in power might make another 9/11 happen (as they did before).
I completely disagree and here is a link
from someone who survived the economic collapse of Argentina and what he went through and what to expect if there is a true collapse.
http://james4america.wordpress.com/2009/02/17/surviving-an-e...
If you scroll down a few sections you will notice Gold has it's own section. The reason for this is GOLD HAS VALUE. If you don't know that by now I wish I could help you but I doubt I can.
Obviously water, food, guns and ammo are in there too but so are dry goods, clothes, etc.
Perhaps it won't come to a total collapse but having some gold can save your life, or your family, and let you purchase goods that you may not otherwise be able to obtain. If paper money turns to trash gold and silver are forms of exchange and there is no arguing that fact.
The price of gold, inflation adjusted for the high in 1980 should be $2300. If you don't understand inflation I am not going to explain it but basically you can SEE that gold hasn't returned to the price it should be even if it is below the inflation adjusted price.
It is not fear it is common sense.
There is no worse tyranny than to force a man to pay for what he does not want merely because you think it would be good for him.
-Professor Bernardo de la Paz, The Moon is a Harsh Mistress
Robert A. Heinlein
History does not long entrust the care of freedom to the weak or the timid.
Dwight D. Eisenhower
Aside capitalizing on a market bubble, what will gold do for me?
Yeah, gold has value...the same as any commodity...and commodities are bad investments for long term investors.
If you want to live your life some some day trader, go ahead. But don't mislead good people in order to pump up your investment.
Oh and I love these two lines:
"If paper money turns to trash gold and silver are forms of exchange ..."
"It is not fear it is common sense."
It is common sense that you are using fear, "if paper money turns to trash", to push gold. On moral grounds, I will never invest in anything like this.
Also, do you really expect gold to continue to grow as has been for a long time? What happens to gold when the fear of terrrorism goes away and jobs return? Could it possible go down in value?
I will say this about gold. It has made 4.3 percent rate of return for last 50 years on average...an interesting saving account. However, since gold has been riding a bubble for years, it is unwise to buy now.
I've somehow managed to live through the energy crisis, Japan buying up the US, unending urban crime, internet biz bubble, Y2K, skyrocketing housing costs, and so on. There have been a lot of lame duck campaigns out there. Gold walks like a duck and quacks like a duck. I predict that five years from now, people will lump this gold rush into the Y2K category.
Frankly, that goes for the chicken hawkers that assume that the NWO is some satanic force hell-bent on enslaving everyone. Certainly, there are conspiracies, but the wise generally know the difference between a real crisis and a fake one.
Amazing!
The U.S. dollar keeps going up, up, up...
As for those fake FRNs they are toast, or perhaps shortly to be used for making toast. If the Fed is audited.
Silver and Gold, real money.
Silver Dollar 371.25 grain of silver.
Gold a store of wealth.
Let the market decide the ratio.
grant
Buy.
Get physical.
Be wise.
Palladium
Paul-lad-I-am
grant
grant! iehuvihs! Palladium advice needed
We "hit the lotter" - my husband got a small unexpected bonus. We decided to buy an ounce of palladium with it, but don't know if metals shops would stock it. I do NOT like doing metal business online... just funny that way. If I have to, where do you recommend?
Truth exists, and it deserves to be cherished.
I would call around to a
I would call around to a coin dealer, they will probably have a line and charge you about $50 over spot.
http://bullion.nwtmint.com/palladium_pamp_bar.php
has a better price if you purchase 5 or more ounces.
Best I can do, I am not a dealer.
grant
Imagine them dumping some gold on the market...
to decrease the price, and it sells and the price goes back up again. This is repeated over and over until the people doing the dumping run out of gold. A world event will crash the market when there is none left in a flash of buying.
There are many other factors to change the price of gold, but once someone has some, are they doing any selling these days?
high:
high: 1102.30
http://www.kitco.com/market/
.
Trust in God, but tie your camel tight.
http://www.campaignforliberty.com/profile.php?member=KathyLa...
http://www.ohiofreedom.com/subd/
Trust in God, but tie your camel tight.
"Socialism needs two legs on which to stand; a right and a left. While appearing to be in complete opposition to one another,they both march in the same direction." - Paul Proctor
I am not refering to the poster here.
But I must giggle a bit when anti gold pro frn people complain about gold going up and down. It only goes up and down on an hourly or maybe for a day or two. If you look at a graph and use a straight edge the price of gold has only gone up over the last decade.
How can people poo poo gold with a straight face?
gold: $1,101.00
Metal Bid Ask
Gold $1,100.00 $1,101.00 up$10.70
Silver $17.55 $17.60 up $0.17
Platinum $1,352.70 $1,362.70 ($1.20)
Palladium $330.00 $335.00 up $2.10
Updated:11/6/2009 8:41:37 AM CST
$1.20 to go at 8:42 am central
"What was taken from the boomers, it ain't there, what was taken from the X'ers it ain't there, what is being taken from their great, great, great squared grandchildren it ain't there. Some generation just has to have the guts to quit passing it on." Me
*May the only ones to touch your junk, be the ones you want to touch your junk.*
Make that .10 away
"What was taken from the boomers, it ain't there, what was taken from the X'ers it ain't there, what is being taken from their great, great, great squared grandchildren it ain't there. Some generation just has to have the guts to quit passing it on." Me
*May the only ones to touch your junk, be the ones you want to touch your junk.*
$1101.00
"What was taken from the boomers, it ain't there, what was taken from the X'ers it ain't there, what is being taken from their great, great, great squared grandchildren it ain't there. Some generation just has to have the guts to quit passing it on." Me
*May the only ones to touch your junk, be the ones you want to touch your junk.*