Posted on 09/19/2005 9:45:28 AM PDT by AdamSelene235
SAN FRANCISCO (AFX) -- Gold futures climbed to a high of $472.40 an ounce, a level not seen since 1988, according to monthly charts. December gold was last at $471.10, up $7.80, or 1.7%. Prices found support as rallying energy prices sparked worries over inflation
This story was supplied by MarketWatch. For further information see www.marketwatch.com
The gold bubble is gonna burst! :^)
Doesn't rising gold mean someone's afraid of runaway inflation?
Due to massive currency debasement.
How about a chart showing the inflation adjusted price of gold since 1978, just like the similar charts for oil?
Well yes, but....the dollar is of different value than 1988.
According to FedGov inflation is low if you don't use energy, consume food, pretend chicken is the same as steak and pay yourself income by renting your home to yourself.
LOL!
I do recall energy and food being removed from the so-called inflation shopping basket of items.
You'd think that PERMANENT increases in energy would be reflected, wouldn't you?
Anyone think that gasoline is going back down to $1.49 a gallon anytime soon?
Aw....U bin lisning 2 Ron Paul havnt U?
No kidding, there are currently 250% more dollars now than in 1988.
Take a look at the Gold/Oil Ratio. When I looked a couple of weeks ago it was at an all time low. Either the price of oil is about to break or gold is going much higher.
When everyone agrees about gold going way up, we will be close to a top.
Consensus it oftentimes incorrect. Careful out there.
I should have bought steaks. I can hardly afford to buy them anymore.
True, but if you bought gold in late 2000 you'd be making a killing right now!! Look at that chart.
So if I invested in gold in 1988 I would be even right now? Oh, I forgot inflation, so I would still be at a loss.
Glad I invested in growth stocks.
The only people who make money on gold are those who sell it and futures in it.
You coulda made a killing on gold if you bought in 2000 and sold now.
Actually, the miners are where's its at.
The Dow looks pretty bad when you consider there are 50% more dollars in circulation now than in 2000.
The FedGov being wrong wouldn't surprise me but the bond market being wrong would. The 10-year bond is yielding what, 4.2%? Are you saying that the CPI is understated and the bond market is ignorant?
A supply sider would say you got the chicken and egg backwards here.
Rising gold is an evidence that inflation already exists.
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