Posted on 09/16/2009 2:53:24 PM PDT by Atlas Sneezed
Gold prices continued to rise on Wednesday and pushed the record closing high above $1,020. The U.S. dollar continued its fall against the euro, adding to the precious metal's hedge value.
December-stamped gold finished at $1,020.20 per ounce, up $13.90 on the session. Prices hit as high as $1,023.30.
The dollar continued its decline versus the euro, falling to its lowest level in almost a year. Gold most often moves opposite the dollar because of the precious metal's hedge appeal.
The record intraday high is $1,033.90, reached in March 2008. When adjusted for inflation, however, gold moved near $2,000 in 1980.
and if you adjust it for the amount of money thats been printed since 1980, gold price should be 15000
The Dow just touched 9800 today.
The Dow just touched 9800 today.
And it’s going to keep going up...
Yep...when we print 3 trillion bucks (and the Brits doing similar) hard to imagine that gold won’t continue to soar. Better than CDs paying 1% (or less).
Up 108 points. What a scam. Zero fundamentals to back this return from the bottom.
(Bummer has been letting his unicorns fly over Wall Street, shedding their silver and gold dander as they proceed)
I agree that there is no reason for the run up and I would bet there is a correction around the corner. Looks like a lot of people are hedging their bets with the purchase of gold.
for later
$1,020.20......the new bottom.
Yeah but you are not making money in Gold. You are just preserving the value of your money. It would be nice if it was profitable.
Even so...still better than holding green.
Right I am there with you.
It’s really sad to see what the psychos, atheist and perverts in Washington DC are doing to our currency and nation.
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