Next Level: GOLD $1,350.00

Barrick Gold eliminates hedge book.

"Barrick Gold Corp. said Tuesday it has eliminated all of its gold hedges, giving the company greater exposure to the price of gold.

The move exposes Barrick to fluctuations in the price of gold, which have largely disappeared as the price of gold has climbed to today's record of $1, 198.70 US on fears of inflation."

"Barrick Gold chief executive Aaron Regent said global output has been falling by roughly one million ounces a year since the start of the decade. He added that believes gold may have farther to run."

Not likely they would do this unless they thought it was going up, up, up!

 

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Very good news for early gold adopters!!

 

Anyone think that the holiday season is also affecting the price of gold?

What's the history of gold before Xmas and on January 1st? Is there a dip?

 

i think its time to go to the motherlode....

 

Gold is consumed at Christmas. Meaning gold goes from the jewelry store to someone's jewelry box creating a demand for more raw gold to be produced and traded in the supply train. Not sure if this has an impact on overall inventory.

 

Gold is moving higher in Asia, it's Wednesday 12/02: $1203.10/oz.

 

the mint updated the gold and platinum price chart. the mint increase the gold chart to $2,050.00. that's mean the mint foresee the gold will go up that high. it's amazing.

 

They were slow in getting the new grid posted. The grid also still starts at $500 but we won't be seeing that again.

 

Gold in Asia is up at $1,203.80/oz.

 

Currently gold in Asia is trading at $1208.80/oz. [Wednesday 12/02]

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$1,210.10/oz.

 

The biggest event that normally affects the price of gold in a positive way this time of year is the Indian wedding season which runs from September to December.

However, due to the record high prices, gold demand is down in India and some brides are having wedding jewelry made that has less gold and more alloy in it (from a few feet away, who's gonna know?).

Holiday 2009 is different than previous years. Gold prices are up due to continued Central bank buying/interest, investor demand and the falling dollar.

The Bling factor? Not a big deal..

http://www.currentbusinessnews.net/indian-wedding-season-increases-demand-for-gold/

 

...with that sort of reasoning maybe we can start selling them a bunch of gold plated knock off coins of classic gold designs.

...and a bunch of it goes to maintain buildings like The Golden Temple º

*24,113.059 oz.

 

$1,211.80/oz.

 

Hmmm...the article says 100 kg of gold:

The Golden Dome (said to be glided with 100 kg of pure gold) is supposed to represent an inverted lotus flower, pointing back to earth to symbolize the Sikh´s concern with the problems of this world.

I ask you this: "What have you done with the other 650kg of gold?"

 

Sorry for the confusion with the articles, there are actually two links there... Go back to the link, and check the article linked with the "º"... that one claims the 750 kg.

Also, Gold is now at $1,216.40/oz.

 

Yankee, Maybe you're gonna make a bunch more again Wednesday!
Gold in Asian trading overnight is now at $1,216.40/oz.
Maybe you will be able to buy a cruise boat and take all us Bullion Investing forum junkies on a private voyage to visit elaine in her new home in the Philippines... all aboard the S.S. Yankee! LOL!

 

Given the dollar's drop, Yankee better vacation in the US if he wants to "make anything"....the rest of us, well our buying power is dropping daily. We are gonna spend another $100B a year for somewhere between 18 months and a decade in Afghanistan. All gold is really doing for us is keeping whatever % of our 'reserves' we have in gold somewhat stable. The rest is losing value unless you are making enough dollars in the market to offset its decline in buying power.

Frankly, this whole thing is making me schizophrenic!

 

That's the way I look at it. When I look back when I bought gold at $1015, and now at $1208, I don't see that as a profit, I look at that as what my dollar value should be if we didn't have an out of control printing chairman.

It's really hard for the average person to feel the affects right away because they don't see it. If you go to McD's, they still have dollar menu cheeseburger. Movie tickets still cost the same today, then they did last month.

I suppose it's true what they say, by the time everyone gets it (when everyone at the dinner table is talking about gold) that is the time to sell.

But sell your gold for what? For USD's?(I don't think I want to) Or do I have to open an account that lets me buy foreign currency?

 

Thanks Morgan, so in a way, it looks like india's central bank replaced the average indian consumer that would have bought gold. But bought WAY more gold than any wedding that could have occurred during these last months!!