Posted on 01/14/2011 8:33:09 AM PST by BenLurkin
Gold prices were tanking Friday as central banks in emerging markets took steps to tame inflation and Federal Reserve Chairman Ben Bernanke raised his U.S. growth forecast.
Gold for February delivery was falling $25.70 to $1,361.30 an ounce at the Comex division of the New York Mercantile Exchange. The gold price Friday has traded as high as $1,377.80 and as low as $1,360.30.
The U.S. dollar index was adding 0.04% to $79.23 while the euro was down 0.05% to $1.33 vs. the dollar. The spot gold price Friday was holding up better, down only $9.20, according to Kitco's gold index.
(Excerpt) Read more at finance.yahoo.com ...
Thank you. I need not read anymore responses.
Gold is “on sale” today!
Your wife will appreciate it! ;-)
Time to buy, I like the little dips when I can make 5% in one day...
I have never bought gold. I fared much much better with real estate over the last 30 years.
What was the price of gold in 1980?
What was it in 1990?
2000?
No thanks ;-)
” Buy gold now???
Your wife will appreciate it! ;-) “
I just KNEW you were a “ gold digger” !!
Generally speaking, you get about one spike in metals per generation. And generally speaking, you’ll get a 300 to 500% spike “IF” you time it right.
And then you get all the folks who didn’t time it right. I’m sure a lot of people bought in as Gold peaked. What happens when the floor falls out. You don’t hear about those folks. You only hear about the folks who “say” they made a killing.
And of course some people do make a killing. And of course, some folks get killed.
As with these types of things, when everyone is saying this can’t end, and it will continue to go up, that’s generally when you need to get out.
I may be wrong, but I’m not convinced we’re far from that right now.
LOL. I’m not a “digger”... I’m a “prospector.” ;-)
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