"Foolish Humaan. Everyone knows that gold-pressed latinum is the money of the future."
Posted on 12/12/2005 11:44:40 AM PST by DebtAndDelusion
Gold prices rose Monday, hitting fresh 24-year highs as investor interest in the yellow metal booms.
On the New York Mercantile Exchange, spot gold was up $7.70 at $527 an ounce in morning trading. In European trading, spot gold rose as high as $541.30 an ounce. Spot gold is trading at levels not seen since 1981.
Traders said the contract is testing resistance at $541.80 and $543.20, and that resistance would likely be a short-term top followed by a dip to $523.10 and $531.00. Long-term charts say that if the contract breaks through $543.20, however, it would be going for $573.
If gold ends higher Monday, it would be the eighth business day in a row of gains. On Friday, gold and silver futures extended their sharp runup on momentum-based speculative and fund buying. February gold settled up $7.50 to $530.20 an ounce Friday, while March silver - trading at 18-year highs - settled up 10.5 cents to $9.095 an ounce.
The recent surge also has been fueled by concerns about inflation.
On a thread last week some people were laughing about gold. They talked about how it doesn't pay a dividend and you have to pay storage costs. Why would anybody pay someone else to hold their gold? The dividend it pays is peace of mind when paper money is losing value every day.
Gold has been money for thousands of years. Dollars, sorry I mean Federal Reserve Notes, are a relatively new phenomenon. Sort of like Russian World War I bonds or Confederate money they will have their moment of favor. Let's just hope everybody doesn't try and hit the exit at the same time. Because if that happens then all of the Asians and Islamics won't sell us their gold for any price.
And then how would we get our gold?
HG
I shoulda bought some gold back in '00.
Yeah, it will be interesting to see if the western "powers that be" are able to continue the manipulation/suppression of the gold market for much longer, given the increasing interest and involvement of the foreign buyers who aren't playing their game.
Melt down your family's teeth.
No storage cost to hold gold in ETFs.
Let's see how long it takes the anti-gold bugs to crawl out and accuse you of trying to sell your gold to them at these "inflated" prices! ;-)
"The Asians and Islamics are buying all the gold!"
The rise is now in the hands of the speculators. They have taken over. There is not practical reason for a rise this big in gold right now.
"Foolish Humaan. Everyone knows that gold-pressed latinum is the money of the future."
When I was a stock broker, I had a street-wise client who used to drop by whom my bull-pen buddies dubbed "The Ferengi", not without cause!
His ethics, not his ears, were the reason. ;^)
I knew that the Golden State Warriors sucked - I wasn't aware that they also huffed!
I want the price to drop a few hundred bucks, I only have half of what I want and the new prices are begining to bite.
It's time to put some serious money in alchemy once again. That Florida company has already reamed the phony value of DeBeers diamonds by creating them from carbon. Diamonds will have no value in the near future. Now its time to create gold and wreck that market as well.
He was familiar then, with the...
He said no, that "lighten up" was hip talk for calming down and not for reducing a bullion position.
So I said fine, do you remember that movie where the American soldiers went behind enemy lines to get all the gold? He said, "Sure, my wife loves George Clooney."
I asked him who the heck George Clooney was. To my knowledge he wasn't in "Kelley's Heroes." That's the movie where Clint Eastwood, Telly Savalas, Donald Sutherland, Don Rickles and a bunch of other great Americans go take the German's gold.
He just looked at me and said I was crazy. Poor fella didn't know about how that thieving dog Roosevelt stole all of our gold and he called me crazy. Who the heck is George Clooney anyway? Was he the German colonel that told Eastwood where all the gold was?
The Asians and Islamics are buying all the gold!
HG
Just a different crystal structure from graphite.
"1 - Once you have their money, you never give it back."
Yes, it starts here ...
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