WoW! Within one week or so, gold went from $908 all the way up to $950! What in the world is going on!? I am glad I decided to take the plunge on the last two FS coins, because if gold stays where it is now, the mint will surely raise its prices on Thursday. Here I was all ready to pounce on things when gold went below $900, now it seems it is rising each day without missing a beat.
Gold is priced in dollars. When the dollar weakens, it takes more of them to buy the gold. The gold price isn't really going up, it's just reflecting the weakening of the dollar. Same for most commodities I believe.
Howdy, * Seasonality - summer's the weak season for gold. * Dollar weakness - gold and the dollar have been running pretty much opposite each other. * China - I believe I read that they now have some $2T of our FOREX but are constantly trying to diversify OUT of the $ and into other things . . . like gold. * Street demand is still huge - this serves as support, or a floor, if you will under the gold market. There are a LOT of people that use price drops like the recent one to ~900 as buying opportunities. And frankly, there are many that are just buying every payday - real stuff - not paper, not ETF's, not mining stock - but real hands on bullion. just some thoughts, rono nd one thing that warms my heart on dark and dreary nights - the street demand for physical bullion
Gold is just being gold. It is volitile with an upward bias, just as it has been for the past eight years. If you look for specific price triggers, you'll probably be wrong, but it might land you a job on CNBC.
The shiny metal hasn't dipped into the $800s for quite some time. Late last year I remember prices dribbling down into the $700s. Luckily I chose that time to become devastatingly materialistic and bought quite a bit. But as it hovers and hovers and hovers like a hummingbird on speed in the $900s my craving for buying has diminished. At least it hasn't broken the $1000 mark for a while.
Gold market Quite small compared to other metals. Supressing this market makes fiat currency look better. Last inventory of U.S. gold stores at fort knox 1954 or 55. South Africa has a bit of a problem getting cash loans. To do deep digging new infrastructure is needed. Banks do not want to see massive law suits on their customers books for health related problems. China says dig, and dig they do. They have gold and buy when they can. WE have gold, you know Goldman Sachs. They dig deep and we feel the pain when we sit down. Some one said here that gold shoud be about two pencils higher then it is. Maybe another conspiracy ? Pep
Well these past few days has seen gold start its climb over $950. Fortunately, for us first spouse collectors the London Fix only just today climbed over $950, so the price of the coins will remain the same for another week. We have been lucky these past few weeks that each time the mint was supposed to review the London Fix price of gold, the price remained below $950, therefore, the mint did not raise its prices. We will have to wait and see what will happen next week, but for those of you who are going back and forth on whether or not you will be buying any gold coins from the mint, this might be a good time to really keep an eye out to see what the price of gold is doing. If you really start to see it go up next week, then you may want to consider buying - from the mint, that is. Most likely, I would suspect that gold will go up and down over the next few months so there will be plenty of additional buying opportunities, but with this crazy economy and how things are going who knows what gold will do.
Silver is up as well. 40% Kennedys are now over $2.17 per on the melt value.... I wish I had more gold coins.....
