Posted on 09/21/2009 8:51:32 AM PDT by h20skier66
Two charts and three measures of gold's "real" price today...
GOLD'S CURRENT price-tag of $1,000 an ounce suggests big doubts over the US Dollar, its domestic economy, and its status as the world's No.1 reserve currency.
Or so we guess after 10 years of watching it quadruple from two-decade lows. But gold investors (old, new and everywhere) should note that this decade's bull market in bullion is about much more than the greenback.
Here are three ways of judging what you might call the "real price of gold" instead.
#1. The Global Gold Index
Gold has risen against all world currencies since the start of 2001, very nearly tripling on average and hitting record highs against everything bar the Japanese Yen. (Tokyo gold buyers are still waiting for a near-double to the peak of Jan. 1980...)
Thus the Global Gold Index currently starts with the US Dollar gold price, and then takes in the gold price for Eurozone buyers, Japan, China, the UK, Russia, Brazil, Canada, Mexico and Australia - as per the latest World Bank and IMF data. (It's rebased each year to accommodate changes in that league table of gross domestic product; India, the world's hungriest physical gold market until the start of this year, flips in and out.)
(Excerpt) Read more at commoditynewscenter.com ...
I heard there was a huge sale today to try and keep the price down.
the value of gold isn’t going up.
after printing $1 trillion extra dollars... doubling the cash supply... it’s the dollar that’s going down.
when GWBush left office, the debt was around $9 trillion. after 7 months of 0bama and dems... we are over $12 trillion. a 30% increase.
how could gold NOT go up in value?
There are many ways to keep supply and demand in balance. See my post above.
They could actually maneuver us into a DEFLATIONARY depression. Do not assume gold HAS to go up.
Thought I heard that. They do not want the price to get too high.
to do this, there would have to be large supplies sold into this market, pushing prices down.
meanwhile, there is increasing demand to move into gold, away from the dollar (china, russia).
it’s interesting to watch the price of gold across all markets. certain markets push it up, others push it down.
http://www.kitco.com/charts/popup/au24hr3day.html
Therefore the price of Gold goes UP...
BANG BANG BANG(Mic).... anybody listing out there?.....
The dollar’s worth relative to what? Most of the world is as screwed up or worse than we are.
I’m not predicting which way gold is going. I’m just warning you that it is not a slam dunk that it’s going up.
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