This is the first time I've seen gold sell for more than platinum. Anybody ever seen gold sell for more then platinum before? The markets including PMs seem to be really out of wack.
It happened in 2008, and this is at least the 3rd time since gold broke 1700. They've been playing a bit of leapfrog. I'm not sure if it happened any other time in history. This ride is definitely getting bumpy.
I hear all sorts of buy gold commercials, listening to them it would seem that it is impossible to lose money on buying gold, but if memory serves me, people have lost out on it before, and probably will again.
Keep in mind, when the profit taking starts it could fall hard. Thats why I prefer silver, when it goes up it's not spectacular, but when it falls it's usually a soft landing. I hope people keep avoiding Silver, because I want to buy some more before the weekend. Of course, it will go up the day before I sign the purchase contract as it did last time. At least thats what the banker told me.
I'm trying to make sense of an irrational market I guess. S&P lowers the USA credit rating triggers automated stock selling and investors abandon stocks embracing the downgraded treasuries and buy gold. SOme big EU banks may implode and the German citizens become angry because merkel commits more money to the problem. Gold becomes more expensive than platinum. Nuts. edit 8/10/11 10:42pm GOLD: $1781.70 PLATINUM:$1787.00
