Posted on 05/12/2010 10:12:33 PM PDT by TigerLikesRooster
Record-High Gold Prices Continue
Alix Steel
05/12/10 - 04:18 PM EDT
NEW YORK (TheStreet ) -- Gold prices Wednesday were hitting record highs as gold's appeal as a safe haven asset exploded.
Next Step for Gold Prices
Gold for June delivery was popping $19.70 to $1,240 an ounce at the Comex division of the New York Mercantile Exchange. The gold price today has traded as high as $1,249.20 and as low as $1,227.20. The U.S. dollar index was rising 0.44% to $84.84 while the euro reversed earlier gains and was falling 0.38% to $1.26 against the dollar. The spot gold price Wednesday was adding $8, according to Kitco's gold index.
Most Recent Quotes from www.kitco.com
Gold prices finally broke their record high gold price of $1,227 on Tuesday and momentum buyers today have boosted prices to another new all time high of $1,249 an ounce.
(Excerpt) Read more at thestreet.com ...
P!
Dang wish I was in the market right now but there is no way. Its all about timing and the right market.
Thanks Euro-socialists!
Don't forget silver.
Maybe, with Congress putting the screws to Goldman Sachs, no one is deliberately keeping the price down.
yitbos
According to Article 1 section 10 of the constitution which reads
“No State shall.......make any Thing but gold and silver Coin a Tender in payment of Debts”
Doesn’t this mean that if a state owes a debt (tax refund etc) that they have to pay in silver or gold coins?
“The dollar is strengthening and gold is going up — typically a contradiction.”
Sign of a bubble.
There’s is no inflation. Riiiiiggggghhhtt.
Hoists fruit pies have gone from $.99 (2008) to $1.49 (2010).
My cost of living index, cup of coffee and two plain cake donuts, have gone from $1.10 (1999) to $2.95 (2009). At the same 10 year time frame Heath care has increased 131%. You do the math. This is the real increase in cost of living index not the BS coming out of Washington.
Goldbug ping
This is Wednesday’s article, but so far it looks like it applies to Thursday too.
Mail me to get on or off the Free Republic Goldbug Ping List.
Nah, not yet. When you’re at work and thinking, “all these people blabbering about Canadian mining juniors, it’s like the old internet bubble”, then it’s a bubble. Today you’d have trouble finding anybody there who can name a single miner, and yes I include Newmont and Barrick.
This past week has been fun, to say the least! :)
Yeah I could go for another month like this past November. Two days where silver gains a dollar, AND KEEPS IT, in one week? You’d have to go back to the Hunt brothers days to even have a chance of seeing that kind of move in either absolute or even percentage terms.
I wonder to what extent the big news — BP oil spill, Kagen nomination, Iceland volcano — is serving to keep the big moves lately from being The Big Story This Week.
Never let a ‘crisis’ go to waste! ;)
You may be right, it’s still early. However radio in LA has been loaded with gold ads for at least a year, if not longer.
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