Posted on 11/07/2009 8:56:22 AM PST by SeekAndFind
NEW YORK, Nov 6 (Reuters) - Gold futures in New York rose to a record above $1,100 per ounce on Friday as the dollar eased in the wake of disappointing U.S. employment data.
At 9:48 a.m. EST (1448 GMT) December gold GCZ9 was up $10.20 at $1,099.50 an ounce at the COMEX division of the New York Mercantile Exchange, having topped at $1,101.90 in morning trade.
Spot gold XAU= reached a record at $1,100.90 per ounce.
(Excerpt) Read more at reuters.com ...
SO folks, the same question -— If you own Gold, do you sell now that it has hit an all-time high ? Or do you hold in anticipation of greater gains, or do you buy at the dips in anticipation of MORE price increase ? Inflation or Deflation ? THAT IS THE QUESTION.
After seeing the 931st but gold commercial on TV/radio today and with the shoe shine boy telling me some tips on buying gold my answer would be...
After seeing the 931st “buy” gold commercial on TV/radio today and with the shoe shine boy telling me some tips on buying gold my answer would be...
( Buy, Hold or Sell ?)
P R A Y!!!!
Balanced out by all the ads imploring you to sell your gold?
Gold - somewhat like a canary in the coal mine.
True, POG went over 1,100 for the first time, intraday. But it only did so for a few minutes, and then pulled back.
Clearly 1,100 is one of those big round numbers that represents resistance. And for some reason the precious metals stocks are lagging at the moment, and not anywhere near their earlier highs.
The gold bugs are divided on what will happen from here. I think we’ll go up, but there will be pullbacks along the way, difficult to predict.
This is a juncture, and next week may tell whether we go up through this resistance, or are temporarily halted by it.
Ballooning hysteria indicates that the bottom will fall out before too long.
Those who like to live on the edge can make money on the last surges up but don't be caught holding the bag.
Yes......idiots have always said Buy High, Sell Low!.......in this day and age, copper jacketed lead is a better buy.
Buy, Hold, Sell or go Gold prospecting/dredging/panning/highbanking.
How many dollars is the government going to print in the next three years?
Buy gold, oil, uranium..... Hard assets. Dollar decline since March has been around 15% so just this year you have lost 15% of your wealth (buying power)
Dollar declines to $0.70? why not $0.60? or $0.40? Or $ 0.30?
Dollar lost % 25-30 from 2001 to 2007.
Hold the dollar if you believe our democratically elected government will not spend us into oblivion
Get out of the dollar if you believe they will spend us into third world poverty.
I’ll buy the trend
http://4.bp.blogspot.com/_H2DePAZe2gA/St7ixlZZdqI/AAAAAAAAKFM/IKIa0PaYWeE/s1600-h/golddollar.png
If you own Gold, do you sell now that it has hit an all-time high ?
Hold your gold until 2012. If Obama loses, sell.
I was at the local coin store this past week. I added another Kruggerand to my small collection. The store was unusually busy, but I was the only one buying. The other 8-10 customers there ahead of me were selling their coins and jewelry.
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The two main reasons why I believe gold is going to continue up:
<1> The dollar is going down. The Federal Reserve cannot allow anything but inflation, if our government is to be able to pay off our insanely high debt.
<2> The general retail crowd is almost always wrong on these things. My personal experience this week is an example, and also I see a ton more "WE BUY GOLD" ads than "BUY GOLD FROM US" on television.
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