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Gold roars past $1300.00 "ceiling"
Wulfmann
Member Posts: 4,906 ✭✭✭
http://www.kitco.com/market
Gold is trading at $1307.00 asking bid at this moment a new record and in line with many bull market gold analyst and a rub to those that scoffed at that price this year if ever.
Meanwhile silver is approaching $22.00 something most did not expect in 2010 even those bullish on the metal.
It may not so much their increased value as the decreased value of the toilet paper we know as the US dollar, that IMO!!
Wulfmann
Gold is trading at $1307.00 asking bid at this moment a new record and in line with many bull market gold analyst and a rub to those that scoffed at that price this year if ever.
Meanwhile silver is approaching $22.00 something most did not expect in 2010 even those bullish on the metal.
It may not so much their increased value as the decreased value of the toilet paper we know as the US dollar, that IMO!!
Wulfmann
"Fools learn from their own mistakes. I learn from the mistakes of others"
Otto von Bismarck
Comments
What goes up will also come down.
Trading price of $1300 means if your selling to a gold buyer, you get about $170 an oz ......... maybe.
$1300 is for 24 Karet gold. 90+% of gold jewelry is 10 Karet (only 41% gold) or just gold plated.
Karat gold.
If you are lucky enough to have some fine gold right now, you can get spot + 10%. I don't know where you get your figures at, but none of the jewelry in our house is 10 karat.
What goes up will also come down.
Trading price of $1300 means if your selling to a gold buyer, you get about $170 an oz ......... maybe.
$1300 is for 24 Karet gold. 90+% of gold jewelry is 10 Karet (only 41% gold) or just gold plated.
Folks who deal in gold deal in bars and coins not junk gold and all is stamped with a "99% pure" emboss.
and isn't it Carrot?[:D]
Gold as in bars and bullion (real gold coins that trade in % of gold troy ounces)
It closed at $1309.00 bid today and that is a bit faster rise than expected even with the consideration for the bubble price of 1979-80 as a level to compare.
We can all speculate what will happen, the Mayans may have thought they knew what was going to happen and the current administration may even think it can affect what will happen but the truth is none of use know when some event is going to turn everything into a bad way.
A little gold may not be edible or shoot-able but it don't eat anything and it will hold far more barter value than the toilet paper known as US dollars if things go south fast.
Having a few coins couldn't hurt and for those with real coin a few bars for the recovery will make one wealthy as it did for Germans with gold after their currency collapsed
Wulfmann
"Fools learn from their own mistakes. I learn from the mistakes of others"
Otto von Bismarck
Notice all the gold ads on tv. Gold is not moving fast enough for investers to make money. Ken
actually, nobody in their right mind is selling gold for fiat currency. all the gold ads are modern mining methods that take advantage of the people when they know times are tough.
tv ads are a hell of a lot cheaper than running a mine.
Beans and rice are the gold of the not to distant future.
What goes up will also come down.
Trading price of $1300 means if your selling to a gold buyer, you get about $170 an oz ......... maybe.
$1300 is for 24 Karet gold. 90+% of gold jewelry is 10 Karet (only 41% gold) or just gold plated.
A real investor buys gold coins or bars. Jewelry is one of the worst investments you can make.
It's a gold plated bubble.
Maybe, but nay sayers have been giving this line since it passed $800/oz. Until the world economy gets straightened out I don't see it coming down.
But but.... G. Gordon Liddy said.... blah blah blah blah blah.
Beans and rice are the gold of the not to distant future.
Don't forget bullets!