Posted on 07/11/2024 7:49:49 AM PDT by zeestephen
Day high is $2,418.70 - June Inflation Report was minus 0.1% compared to May Inflation Report.
(Excerpt) Read more at cnbc.com ...
I should’ve kept that Krugerrand I bought back in the 70s. $250 an ounce…
Intra-day - highest price is $2,450 - also on 20 May 2024.
“I should’ve kept that Krugerrand I bought back in the 70s. $250 an ounce…”
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You would have done much better in the S&P 500. Just sayin’.
Nah, hopefully you sold around March 1980.
Parker and the other gold miners are glad about that no doubt.
Gold’s nice but you can’t eat it.
It is time for silver to start running...
The problem in comparison between purchases now & then is correcting for inflation.
Your example: $250 in 1975 had the purchasing power of $1460 today. So, gold has increased in valve but not quite as much as the raw numbers suggest.
I bought a new ‘69 Z/28 Camaro for $4400. Today that’s about $40,000. Yes, a new high performance Camaro costs more than $40,000. But today’s Camaro is technologically very different and more complex than in ‘69.
Not sure where it is on the food pyramid but noted.
Correction: The dollar is testing an all-time low.
Exactly correct.
Gold will kill the FED. Silver will Bury it.
FR Gold & Silver Ping list!
PING!
I disagree.
In spite of self-destructive budget and monetary policies, the USD has been trading at $100 or higher, against a basket of foreign currencies, for 27 months.
100 is neutral. 100+ indicates USD strength.
I think this means the USD is the least weak currency in the world.
It might be testing all time low against gold but as compared to foreign currencies, you’re right.
Okay, let’s just say fiat currencies are at an all time low.
And, more to the point, the value of gold is about the same value as it has been for thousands of years.
Back in the early 1800s gold was worth $19 an ounce.
The dollar being "strong" compared to foreign currencies while falling against gold isn't a sign of strength, it's a sign that all these fiat currencies are being devalued.
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