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Gold breaks through record high


Cassandra Syndrome

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Aug 23, 2009
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Its hit 1010. Omnious sign.
 

feargach

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It has not been below its 200 day moving average since January. It's actually quite normal for gold to perform well at times when the stock market is faring poorly.

In 1980 it went to $2400, adjusted for inflation. So while it's always good to be cautious, there's plenty of room for general optimism, and be aware that prices below $1500 an ounce are not a sign of impending doom.
 

rhonda15

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Apr 22, 2008
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rumour has it China is buying sh*tloads of Gold!

London has been trying it's utmost to contain a price breakout but is losing the battle.
 

Jock_the_Waster

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May 19, 2009
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it has a long way to go before some '80s suckers even break even on their purchase price

Gold, over rated...
 

Louth Planner

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It has not been below its 200 day moving average since January. It's actually quite normal for gold to perform well at times when the stock market is faring poorly.

In 1980 it went to $2400, adjusted for inflation. So while it's always good to be cautious, there's plenty of room for general optimism, and be aware that prices below $1500 an ounce are not a sign of impending doom.
I agree with you in principal. I dont know enough about the movements of gold prices but I will make this observation. A lot of commentators are banging on about gold as if it were the savious of all of lifes ills for people who like investing in stocks and shares. All I have to say is that Gold is traded just like (or very simiular to) stiocks and shares and one can get as easily burned in Gold as they can in any stock or stock portfolio.

Anyway, on a personal level, I'm getting quite sick of comments like - did you see the price of gold today? As if its new new hip thing.

Anyway, my 2c.
 

cactusflower

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Gold is for emergencies. It doesn't return a profit, like most other investments. It just holds a certain amount of exchangeable value, can be stored easily without going off and is quickly transportable, unlike most commodities. Its not much use for anything though.
 

feargach

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All I have to say is that Gold is traded just like (or very simiular to) stiocks and shares and one can get as easily burned in Gold as they can in any stock or stock portfolio.
That's not entirely true. If you own some gold, your investment can't go to zero, whereas that is a real danger with any individual stock.
 

rhonda15

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Apr 22, 2008
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China's immense, and growing, impact on the global gold market

LONDON -

There is little doubt that China nowadays has the financial muscle to effectively control the global gold price. The mere sniff of a report that it is taking gold into its official reserves to counteract dollar decline is sufficient to, at the least, stabilise the gold price - and there seems to be little doubt that it is so doing, but at the moment in a manner that is not designed to de-stabilise the dollar or, on the other hand, not to contribute to a quantum leap in the yellow metal's valuation - yet.

Mineweb - POLITICAL ECONOMY - China`s immense, and growing, impact on the global gold market

a delicate balancing act ...
 

Cassandra Syndrome

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Anyway, on a personal level, I'm getting quite sick of comments like - did you see the price of gold today? As if its new new hip thing.

Anyway, my 2c.

So, OMG, loike, what do wont to talk about?, loike, the prioce of Heino, loike?

Anyway thats my 2 Kruggerands.....
 

Cassandra Syndrome

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And I'm glad you shared. Your intelligence is remarkable.
Gold rarely gets mentioned here.

If someone wants to start a thread about the price of lean hogs they should feel at ease to do so.
 

Louth Planner

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Gold rarely gets mentioned here.

If someone wants to start a thread about the price of lean hogs they should feel at ease to do so.
I'm not saying they cant. But when you start a thread, dont complain about the posters.

Jeeze, if you are that sensitive about your threads maybe you shouldn't start them. And I see you have less than 100 posts so you obviously are not here long enough to state with any degree of certainty how many times gold is mentioned on p.ie.

You better grow a thicker skin fast on these boards.
 

Pauli

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Sep 22, 2006
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Eh, didn't this hit $1034 in February of this year? Also, there seems to be price resistance around $1008-$1012, so there is a bit of work to do yet before the euphoria can have any real justification.
 

Cassandra Syndrome

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Eh, didn't this hit $1034 in February of this year? Also, there seems to be price resistance around $1008-$1012, so there is a bit of work to do yet before the euphoria can have any real justification.
Gold hit $989 and then dropped again in Feb 2009. This is an impressive sideways move for a number of days at around $1,000. I'd expect it to increase further as China buys more and investors seek save havens as the markets enter a period of severe turmoil again.

Yes watcher1 I see how I could have been perceived as touchy earlier. I am relatively new on this forum for a few weeks. But I love it and have high regard for the contributors here. DUring that time I noticed very little on gold and when I saw it hits it nominal record I thought I quote it.

Being new for awhile on a forum can make you anxious for awhile until you fit in, so if you start a thread and somebody feels that talking gold is a bit overdone, despite you seeing any being done, you feel small. Hense retorts come. Its a bit schoolchildish I suppose, but it was a tough few days for the New Kid. Anyhow apologies for the retort.

I am a believer in Gold. I have 10 percent of my assets in the stuff. So I feel it acts like a good safe hedge.
 

rhonda15

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Apr 22, 2008
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Gold hit $989 and then dropped again in Feb 2009. This is an impressive sideways move for a number of days at around $1,000. I'd expect it to increase further as China buys more and investors seek save havens as the markets enter a period of severe turmoil again.

Yes watcher1 I see how I could have been perceived as touchy earlier. I am relatively new on this forum for a few weeks. But I love it and have high regard for the contributors here. DUring that time I noticed very little on gold and when I saw it hits it nominal record I thought I quote it.

Being new for awhile on a forum can make you anxious for awhile until you fit in, so if you start a thread and somebody feels that talking gold is a bit overdone, despite you seeing any being done, you feel small. Hense retorts come. Its a bit schoolchildish I suppose, but it was a tough few days for the New Kid. Anyhow apologies for the retort.

I am a believer in Gold. I have 10 percent of my assets in the stuff. So I feel it acts like a good safe hedge.
I'm also a big fan of gold and have built up quite a position in silver.
Cassandra you are right there is very little discussion on precious metals in general and thanks for the timely thread.
 

Pauli

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Gold hit $989 and then dropped again in Feb 2009. This is an impressive sideways move for a number of days at around $1,000. I'd expect it to increase further as China buys more and investors seek save havens as the markets enter a period of severe turmoil again.

Yes watcher1 I see how I could have been perceived as touchy earlier. I am relatively new on this forum for a few weeks. But I love it and have high regard for the contributors here. DUring that time I noticed very little on gold and when I saw it hits it nominal record I thought I quote it.

Being new for awhile on a forum can make you anxious for awhile until you fit in, so if you start a thread and somebody feels that talking gold is a bit overdone, despite you seeing any being done, you feel small. Hense retorts come. Its a bit schoolchildish I suppose, but it was a tough few days for the New Kid. Anyhow apologies for the retort.

I am a believer in Gold. I have 10 percent of my assets in the stuff. So I feel it acts like a good safe hedge.

So I guess this guy is wrong then.

Gold Breakout?? | Uncommon Wisdom

I am not really big into metals, being more of a forex head. But this guy seems to know the market so it might be worth hearing what he has to say.
 

rhonda15

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Apr 22, 2008
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So I guess this guy is wrong then.

Gold Breakout?? | Uncommon Wisdom

I am not really big into metals, being more of a forex head. But this guy seems to know the market so it might be worth hearing what he has to say.
I don't really care if gold falls to $100 an ounce or $10 - i'll still be buying
 

mryoungdan

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Aug 26, 2009
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I put all the money I could into gold at 265. I consider it a steal here at 1000 dollars. I was scorned when urging it's purchase at 600, 700, 800 and 900 and will be scorned now at a grand. I recommended 2 stocks on the iseq thread and they are up 300%.

Silver at 16.60 is the buy of a lifetime still.
 

Andromachus

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Aug 28, 2009
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Isn't this Gold price increase a function of dollar weakness?
If the dollar recovers ground - which way does Gold move!
 

Oblivion

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Jan 8, 2008
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I'd expect Gold to increase further as China buys more and investors seek save havens as the markets enter a period of severe turmoil again.
If the markets crash again, investors will rish back into dollars and gold will crash.

The best thing that can happen for Gold and oil, is for a sustained bull market.
 
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