The only real money?
Posted on 08/14/2008 7:32:24 PM PDT by Toddsterpatriot
Australia - * Gold below $800 for first time since December * Silver tumbles 11 percent
SINGAPORE Aug 15 (Reuters) - Gold tumbled nearly 3 percent on Friday and slipped below $800 for the first time since December 2007 as investors fled precious metals, with their confidence shattered by falling oil prices and surging U.S. dollar.
Silver, which normally tracks gold, was the hardest hit, falling more than 11 percent. Platinum slipped more than 2 percent and sister metal palladium 3 percent.
Spot gold hit an intraday low of $788.50, its weakest since mid-December, down from $811.25/812.65 an ounce late in New York on Thursday and well below an all time high of $1,030.80 hit in March.
(Excerpt) Read more at forbes.com ...
The only real money?
Ping!
Does this mean we are not doomed? Has any one seen Howard Ruff lately?
The gold I own will hopefully never really be needed. So price fluctuations don’t matter (I keep telling myself that anyhow)
You can still buy a suit. LOL!
Ronald Reagan said something to the effect that gold was the dumbest investment that anyone could make, hmmmmmm....
Nah, my gold is not for buying a suit. It is for buying someones nitrogen filled container of dried lima beans without getting my ass shot off by the loners who packed them waiting for the goldless masses to try to steal it from them. I will legitimatly buy my supplies from the loners, and probably watch in horor as the idiot masses overrun the guys farm ( as he offload three shots from his AK-47 only to get konked on the head by a shovel) and take the rest of his beans and my gold.
Long term, not short term. Gold is the dog that wag's silver's tail. In other words more fluctations in the tail.
The decline in the prices of oil and precious metals is not good news for Russia
That’s a good movie. The part about his gun jamming sucks though.
Never understood that. There are so many variables if the world does go to heck that you cannot really be prepared. If you are then someone bigger will come take it from you.
(It also pays no interest or dividends. Shhhh......)
Sometimes the gains are only 100%. Beats the hell out of ENRON. (A little jab at my buddy who lost 125K on his options).
You are corect. Better I think to try to live like a Christian and let the chips fall where they fall.
Sometimes less.
Very much agreed sir. I have moved on and have no dog in this hunt. Pleasure watching the market with you.
The best defense is to keep your mouth shut about what you’ve got.
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