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El Exigente
Joined: 10 Sep 2010
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 Posted: Mon Sep 20, 2010 9:58 pm Post subject: Gold hits all-time high |
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Gold leaps 2 percent to record, nervous investors pour in
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| (Reuters) - Gold surged more than 2 percent to a record above $1,270 an ounce on Tuesday, its biggest one-day gain in four months, as investors sought a bastion of stability amid topsy-turvy trade in other markets. |
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Sergio Stefanuto
Joined: 14 May 2009
Location: UK
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| Posted: Tue Sep 21, 2010 12:13 am Post subject: |
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| It's only a nominal all-time high. Adjusted for inflation it's about 60% of its all-time high, which was in 1980 |
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El Exigente
Joined: 10 Sep 2010
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| Posted: Tue Sep 21, 2010 7:21 am Post subject: |
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| Oh, it'll beat that quite soon, too. |
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Sergio Stefanuto
Joined: 14 May 2009
Location: UK
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| Posted: Wed Sep 22, 2010 12:24 am Post subject: |
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| Let's hope so. If they debase the dollar so much, it's an inevitability, of course. If gold appreciates to the extent that it has done in recent years, or more, then it's not merely a hedge against inflation - it's a cash cow. If they raise interest rates significantly, then a lot of would-be investment in gold will stay in banks' balance sheets, causing gold's appreciation to slow down, but such action at the moment seems unlikely, because many will default on their debts and mortgages, which will unravel the very fabric of the spacetime continuum, thereby destroying the entire universe |
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mmstyle
Joined: 17 Apr 2006
Location: wherever
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| Posted: Wed Sep 22, 2010 7:06 pm Post subject: |
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| Bubble, anyone? |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Thu Sep 23, 2010 8:02 am Post subject: |
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| No, not a bubble. |
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El Exigente
Joined: 10 Sep 2010
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recessiontime
Joined: 21 Jun 2010
Location: Got avatar privileges nyahahaha
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Thu Sep 23, 2010 8:52 pm Post subject: |
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ZH in that post is not making the case that gold is a bubble but that the bubble talk is wildly inappropriate given other assets that have appreciated into bubbles.
Gold is an island of safety from Ben Bernanke, Trichet, Summers, Blankfein, Greenspan, Rubin, Paulson, Orzig, Romner, Krugman, Timmay etc etc etc. They will destroy the country.
The price is suppressed by central banks too. Summers literally wrote the paper on it and Greenspan (who is now telling his clients to buy gold - true story- he told John Paulson to do so) discussed it in Fed minutes. The paper market is many times larger than the physical. It is not a bubble. Soros is 18% gold and J. Paulson is similar. Soros likes to talk up gold as a bubble and buy the dips.
It is amusing that the American financial establishment all of a sudden, now, worries about bubbles. |
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El Exigente
Joined: 10 Sep 2010
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| Posted: Fri Sep 24, 2010 7:01 am Post subject: |
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| $1,300 today. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Fri Sep 24, 2010 7:12 am Post subject: |
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| El Exigente wrote: |
| $1,300 today. |
Right. So here's what's going to happen. The big swinging finance dicks are going to start talking up the bubble theme. Last time it was Soros and it made the front page of the WSJ and FT. At the same time the World Bank and Fed lease their reserves to private banks to increase supply, thus pulling the price back. The elite then pile into gold while the proles argue about if it is a bubble or not. Then the propaganda wears off and the leased gold is absorbed and the price goes higher. Repeat.
When the FOMC released their outlook a week back or so it hinted that QE v:2.0 is soon. Goldman estimated it will begin on the day of the election. The market, when the FOMC was released, drove as much money into equities as precious metals. That tells us that the market has diminished faith in the Fed. QE pumps up stocks. If there is going to be QE, you buy stocks, unless you think that the system has a reasonable chance of breaking down. Damn near exactly the same amount of money went into PM.
I can't find the exact numbers but ZH touched on it:
http://www.zerohedge.com/article/sp-gold-down-after-fomc-announcement-more-capital-goes-precious-metals-stocks-post-fomc |
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Fmcmpr
Joined: 27 Oct 2009
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| Posted: Fri Sep 24, 2010 4:20 pm Post subject: |
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Gold could easily go up to $3,000 in a year, and $5,000 to $10,000 in the foreseeable future.
Silver has the potential to go to $100. Keep up with the economic forecast and listen to the Bob Chapman excerpt on the Alex Jones Show today.
Might wanna find a way to convert some cash to gold if you have a place to put it. |
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Sergio Stefanuto
Joined: 14 May 2009
Location: UK
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| Posted: Sat Sep 25, 2010 4:02 am Post subject: |
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| Fmcmpr wrote: |
Gold could easily go up to $3,000 in a year, and $5,000 to $10,000 in the foreseeable future.
Silver has the potential to go to $100. |
The gold/silver ratio at present is 60-to-1. The record however (I think) is 16-to-1. Extraordinary gains in silver are conceivable, then, I would have thought. I've certainly had a punt.  |
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El Exigente
Joined: 10 Sep 2010
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| Posted: Sat Sep 25, 2010 7:00 am Post subject: |
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| Sergio Stefanuto wrote: |
| Fmcmpr wrote: |
Gold could easily go up to $3,000 in a year, and $5,000 to $10,000 in the foreseeable future.
Silver has the potential to go to $100. |
The gold/silver ratio at present is 60-to-1. The record however (I think) is 16-to-1. Extraordinary gains in silver are conceivable, then, I would have thought. I've certainly had a punt. |
It is not the record, but the historical gold/silver ratio that is 16 for a number of reasons. From that POV, silver is an even better investment. |
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recessiontime
Joined: 21 Jun 2010
Location: Got avatar privileges nyahahaha
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| Posted: Mon Sep 27, 2010 3:09 am Post subject: |
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Where is a good place in Canada to buy real physical gold you can keep in your own house? Many places offer to sell gold but they keep it in their bank vault. This is bad because it the government can confescate it or the bank could be pulling a ponzi scheme fraud. I'm looking at a US based gold seller right now, they seem to be reputable:
http://www.gainesvillecoins.com/CategoryDetails.aspx?id=25 |
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