Gold $800.00, Silver $16.00 next target?

Unfortunately Lead you are so right.

 

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gold and silver

gold $845.00, silver 16.05

based on $850.00 per ounce. my guess is that the u.s. mint might increase the prices as follows:

am eagle gold unc. (w) mint mark
1/10 oz - $112.95
1/4 oz - $249.95
1/2 oz - $474.95
one oz - $939.95

am eagle gold proof:
1/10 oz - $124.95
1/4 oz - $269.95
1/2 oz - $519.95
one oz - $1,009.95 (applied to am. buffalo too).

 

this says it all:

http://www.bloomberg.com/markets/currencies/fxc.html

compare the current value of the US Dollar to the Euro and the Canadian Dollar. $800 gold is not good because it shows how weak our economy is compared to other nation's. of course if i was sitting on a few pounds of gold i might be laughing to the bank, er mattress

-Steve

 

could not help myself just ordered couple of Unc Jamestown gold and a few silver eagles unc also ordered my silver proof sets before they raise the price on them

 

Exactly right leadfoot; the rest of the world is not complaining or celebrating 'skyrocketing' prices for oil, corn, gold, silver, etc., because their moneys (??) have been strengthening vs. the dollar.

There are other influences as well, for all the different commodities, currencies, etc., and the rest of the world is being affected to a degree, but the dollar has been steadily and rapidly declining since 2002, but the past few months...I don't remember seeing anything like this. >>

So, I'm writing this after I captured the data below. I wasn't expecting the skew I see there, but it makes sense. Silver and Gold, etc., have definitely outpaced the inverse of the dollar reaction, but we need to remember; most people have more dollars than they have "dollars worth of" PMs. If you have 1/6th as much silver value as you have actual dollars over this time period, you'd be at a break even. If you beat that ratio, then from the investment standpoint of holding dollars vs. holding PM's, you're doing well.

In the past 5 years (approx):

DJIA - up 50%
US Dollar - down 50%
Silver - up 300%
Gold - up 260%
Platinum - up 250%
Oil - up 400%

Based on the change in the dollar, you can cut the increases in half. So gold is up 130%, silver 150%. Its almost as if, due to conditions, the "P/E Ratio", if you think of it in stock market terms, of precious metals has gone up, because of their increased attractiveness in these market conditions.

 

Elaine:

You were right about the gold price, and it is continuing upward above $800. I apologise. LOL I am still as nervous about it as a long-tailed cat in a room full of rocking chairs, though...

 

I wonder if this is the down ?

 

if this is the down, the US economy is cooked.

 

I doubt it, but I doubt this is the peak either. Gold reacts to the market. When the market is weak, as it is now, when people are leary about investing in other areas such as real estate and services, they invest in hard commodities, like gold. When that demand increases, the prices increase, just like any other commodity. And, like everything else, there is always a tipping point at which the prices can no longer sustain the demand, and then the prices fall again. It's a never-ending cycle. The economy is slowly recovering, so look for bullion prices to fall in a year or so.

Like in the housing market, those who buy high lose their shorts every time, and then wonder why.
Guy~

 

The World Spot Price is 834

Won't be long before the mint rasies the Silver eagles and silver proof sets

 

commitment

I believe gold is a commitment . You get in at a point and collect gold that has value other then bullion. You make it part of a hedge for your investments. You can lose a bit for a long time, but if gold is down, a balanced portfolio should be up overall . If not then the food commodities are the next stop.

 

Market closed:
Gold $832.20 + $10
Silver $15.34 + .05

 

Saw this about an hour ago:

http://catalog.usmint.gov/webapp/wc...ctId=13890&langId=-1&parent_category_rn=10118

As of this morning it was still available. I wonder if it is a supply issue or a price issue?

 

When the NY Market closes the The World Spot Price - Asia/Europe/NY markets open Gold is 829.20 bid ask is 830.00 now on the world off a 1.50 from the NY close

I'm surprised mint has not raised the Jamestown Unc Gold yet

 

Does anyone remember the previous market peak price?
And date?
Should be 1980.

 

Jan 21,1980 850.00 I think

Here is something Gold was higher then Platinum in 1980. Platinum ave price was 677. 1980 and was only 384.00 in 1998

 

Just at Mint site and they are now selling Platinum Unciculated again.
I guess they have increased the price

 

How about the NYSE up +114 at the open and closed down -360 to 13300.
Yesterday It was Citi Bank airing their laundry in exposure to sub prime loans ( Go ahead you do not have to put a penny down ).Today Morgan Stanley admits to 3.7 billion this quarter. I think Citi is in double digits. This mess is going to have a long leash. If the economy does not reach a recession it will be because no one made it official. Two to three quarters of very low or no growth.
You will always have the gold if you hold it.If you own stocks in an IRA unless they are the consumable old bullet proof kind you might think about taking some money off the table before it is gone. We may be able to export our way out of this mess with the low dollar. You pay.... or you pay !

 

Homework

Philly Dog, you're absolutely correct: London exchange Jan. 21,1980, $850.

Found some interesting sites relating to this forum.​

http://www.measuring worth.com

http://www.goldnews.bullionvault.com/gold​

 

Silver 15.56 ----- Gold 837.00 / WOW