Rush to gold pushes prices higher

BBC ^ | 11/28/05 | n/a

[proxy_user]

Hmmm....gold is going up because gold is going up.

The "momentum play"; sound familiar? I seem to recall something like that fairly recently....

[2banana]

"A lot of investors are just buying because the price is going up, then trying to find reasons to explain it,"

Well, at least it is a reason...

[Larry Lucido]

At first glance at the headline, I thought Limbaugh was now influencing the price of gold.

[jimbergin]

at this rate, I might be able to sell by $624 gold Krugerrands that I bought when I thought the world was about to end back in 1981

[Fishing-guy]

What I want to know is where you can sell the coins without being ripped off?

[ghostrider]

That is what happens when you make a "panic" spot decision on a long trend. Next time, beware of the long term trend line.

[proxy_user]

They'll come in handy. The world ends quite often nowadays.

[coloradan]

That's what I thought too.

[krunkygirl]

save----looking for the same info

[Travis McGee]

Gold closed at $499 today.

Anybody care to venture when it will break $500? Where it will be on January 1, 2006? Or January 1, 2007?

[Travis McGee]

Any coin dealer. There is a couple of bucks spread between the buy and sell price, but that's how the guy stays in business.

[RockinRight]

I shoulda bought some gold back in 2000.

[Colinsky]

What I want to know is where you can sell the coins without being ripped off?

I was forced to sell gold three times in 2002 to pay the rent, and each time I was able to get at least the NY spot price. I called several coin stores and pawn shops and gold dealers and asked what they were paying today, and went with the highest price. Cash in my hand in one minute, no questions asked.

[kajingawd]

i remember the first time i heard Michael Savage ...in 2001. Then a commercial by that company( which i can't remember the name of) about investing in gold...wish i would have invested then...now...way too late

[Jack Black]

Funny that they don't mention the ETFs as driving demand. But I'm sure that's a part of it. GLD now holds 7.2 million ozs (226 TONS!) of gold in trust. IAU has a smaller amount, but it's growing faster.

Also India and China like gold, so there is demand there.

Also not mentioned is the impact of various central bank leasing and selling operations that may be near their end (as they have sold or lent as much as they can).

How much gold is left in Ft. Knox anyway?

[rellimpank]

--Gold--the only product on earth of which virtually all that has ever been extracted is still available--

[D.P.Roberts]

TRy:

http://www.ajpm.com/htbin/gold.cgi

They might have a better price, but your local dealer will save you a lot on shipping.

[D.P.Roberts]

HA Ha I know what you mean, I still have silver from then. Remember Bunkie Hunt?

[jimbergin]

"They'll come in handy. The world ends quite often nowadays."

yes, everyday the libs find something new that will cause disaster for all of us. Thankfully I grew up! I know my wife is glad I did.