Next Level: GOLD $1,350.00

Be patient $1000. will come!

 

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NO $1,350 for 2009!

Low: $1,093.10
Now: $1,097.80
High: $1,106.30

 

Thanks for the explanation guys. Definitely something I will stay away from!! Sounds like I could lose more than my shirt if I even try to get involved.
I've always heard it thrown around so I figured I'd ask one of you guys what it's all about.


There's a lot of old movies I've been meaning to catch up on. Believe it or not, I've never seen the movie Wallstreet!

 

Sorry, was thinking of an option contract.

 

Gold on a powder keg

a person of integrity expects to be believed, and when there not they let time prove them right.

Gold will go well north of $1200.00 this year. I'm i the only one seeing that government spending is out of control. More money is being pumped into the system due to stimulus 1(TARP) and 2 and maybe 3. Health care reform is on the verge of passing congress. The dollar is on weak ground internationally and every country in the world is buying gold and silver, increasing it's demand. Does anyone else see this? Gold is on a powder keg and the fuse is lit, BUY GOLD and especially SILVER.

www.goldnsilverdog.com

 

I thought Gold hit $1200 in '09....

 

It did, it went higher than $1200, you're quoting krispy's daily/current PM rates....

 

Yes, gold was $1,208.75/oz. on 12/03/2009, London Fix (PM) Afternoon price.
What you quoted from my post was a price during open market trading, yesterday 12/31/2009 at the time of that post, on the last trading day of 2009, and to say that we would not be seeing $1,350/oz in 2009 referring back to the title of this thread, "Next Level: GOLD $1,350.00"

I was just saying it wouldn't happen in 2009 and any mention in 2009 by the gold bugs that it would have happened in 2009 were unfounded.

This was the title of my post "NO $1,350 for 2009!"

And this was the (then) current Ask price when I posted on 12.31.2009:
Low: $1,093.10
Now: $1,097.80
High: $1,106.30


Now, it's a whole new year for speculating, onward to 2010! :thumb:

 

Gotcha. I hope the dollar strengthens and metals drop so that folks can afford to buy more of them this year.

 

Maybe folks like us. But not the average person. I still see the average person not even coming close to investing in PM's. Unless they are buying gold jewelry for their wife/GF...

 

If the dollar strengthens and metals drop, why would you want to buy? You think it would be only transitory?

 

The dollar will weaken and strengthen and fluctuate. I don't see that pattern ending anytime soon. Some dips in metals purchasing prices will allow either more people to buy some, or the regular crowd to buy more. One nice thing about precious metals is that they can never go to zero like some other investments can. I think holding gold will help to protect our dollars against devaluation. That's important if your holdings are currently in cash. The weaker the dollar, the more of 'em it takes to buy metals.

 

True. Many folks don't have a dime to invest and are struggling to get by daily. Folks who are fortunate enough to have some extra cash have plenty of options. The only bad thing about having all of your eggs in cash is that you lose purchasing power continuously until eventually it won't buy nearly what it will today. Interest rates on CDs are pretty sad. Even T-Bills that cost $10K apiece won't protect you from inflation, or worse, devaluation of the dollar. Diversify and try to save some money in some type of investment vehicle for the future...it'll be here before you know it. I hope to get a little gold this year...and I MEAN a little. LOL

 

Agreed!

I'm a perfect example, I jumped into PM's just about 4 months ago, so I never saw gold/silver at incredibly low prices. So my weak US dollars are doing the best they can now to get some gold/silver. Down the road I can only imagine how much weaker the USD will be as a whole, not just compared to gold, but to other commodities.

If the endless printing of our money, and endless debt doesn't weaken the greenback, then I don't know what to say. It is magical, it can defy all economic rules. With that said, I don't think it is magical.

It's funny, I did bring up investing in gold at a recent Xmas party and the consensus from what people were saying was, "Yeah, I hear you should invest in gold..."

And it ends right about there. Not a single person actually went ahead and bought the damn metal!

Peter Schiff even mentioned it recently, when he makes his weekly hits on CNBC, Fox etc etc....the same anchors that invite him on the show, he routinely would ask them, "Did you get any gold yet?" And they still haven't.....

Sometimes it makes me revisit my approach to gold/silver. But I just can't let go of the fundamentals, more money printing=weaker.

How can it be anything but?

 

I hear ya. Since Gold is priced in dollars, if today's dollar becomes worth .50, then the price of gold will have doubled. Buying gold today will allow you to get a lot more of the weaker dollars later when you need them. The only movements in Gold that I've been seeing for quite awhile now are just fluctuations based on the daily value of the dollar. It doesn't really go up or down, it just runs inversely proportional to the value of the dollar.

 

Yeah I think it's important that when people speak about the price of gold, that it is against their currency. I would think the majority of us here are speaking in terms of USD.

I try not to get overworked when I see gold dip $100 bucks or even go up $100 because the long term is the key, not these daily/weekly fluctuations.

I look at the USD like a boat with a hole and water is "slowly" leaking in, causing the boat to gradually sink, but not too noticeable.

So why would anyone really want to be caught holding a lot of USD long term....

 

The stock market did pretty well in '09, so a lot of folks probably aren't even thinking about metals right now. That should help to keep prices stable if there's not a 'Gold rush'.

Silver might be high enough that mines could be reopened and more production might help to lower the price. I don't see the price skyrocketing anytime soon...there's no shortage of silver on this planet. At the pace that silver prices have increased over the last few years, the profits have already been had. The same with this year's stock market.

 

It's kind of a double edged sword. I do not wish for my country to go into a state of Armageddon. I don't want to wake up to hear shortages at the grocery store and my fellow family & friends losing their shirts when/if the DOW crashes...

At the same time, it also kinda seems like the calm before the storm. In 2010 we have ARM's that are going to be reset right? And then there's commercial real estate that from what I am hearing is going to be worse than residential.

With our economy being so sensitive right now, it's not a strong enough machine to handle more bad news.

And God knows what universal healthcare is going to do to us if/when it passes.

Since I got into the game late, I would love to see silver doing much better than $20. I'm hoping my purchases at $16.50 - $17.00 were the new floor for silver and not the high!!!

 

The issue of course are you willing/able to invest enough in Gold/Silver to really make a difference in your own financial security, assuming of course you are correct in your assumptions?

 

That's the case with all investments. If you want a single idea to make a difference, then you have to concentrate. But you can also buy a smaller amount of gold/silver as part of a diversified portfolio and that's okay too provided it meets your goals.