Gold hit 1693

[FONT=Verdana, Arial, Helvetica, sans-serif][/FONT]Just noticed this morning, gold is now officially up $500~ oz in the last year!!
[FONT=Verdana, Arial, Helvetica, sans-serif]

SPOT MARKET IS
OPEN[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]closes in 10 hrs. 15
mins.[/FONT]

Aug 08, 2011 07:00 NY Time

[TABLE="width: 100%"]


[TR="class: alternating"]

Bid/Ask

1705.70 -

1706.70
[/TR]



Low/High

1697.20 -

1716.50

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Change

+42.30

+2.54%
[/TR]



30daychg

+161.50

+10.46%

[TR="class: alternating"]

1yearchg

+500.00

+41.47%
[/TR]



[TD="colspan: 3"]Charts...[/TD]
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It's very difficult to talk people into selling an asset that is rising in price. Some of the posts here are starting to sound a little like the tech stock posts in the late 1990s in the old AOL investment chat rooms.

 

This Year is time to sell gold...Next year will going down... down down and down.....then will stop a little longer...then will up again......my feelings.. Nothing more than FEELING.. Trying to forget.... awooooo..

 

I agree with what your saying, though i was too young to know what was going on during the tech stock booms. I'm bullish on the metals but I'm not a SHTF person.

As for people who are saying now is a good selling opportunity, agreed, (for gold) but I would wait till near the end of the week and see where this debt mess takes gold if your considering selling. This could be a week to remember.

 

The market is telling us clearly with the international open this week that gold is where people want to be in times of uncertainty. It had the vertical spike, but the overall gain is still only half of what silver has done since then percentage wise. If I see an indication of fiscal responsibility then I would consider being in the sell camp for the sake of monetary gain (ideally along with a metal standard and no usury on money), but it seems to me we are just trying to keep the lights on more so than addressing the debt. Maybe selling now will turn out to be the lucrative move only people with the guts to do so will reap the benefits of. I am not nearly so bold and will be holding on to my metals for as long as I don't require the income that selling them will provide. To me the peace of mind in holding metals isn't something so easy to put a price on, and they aren't an IOU like just about everything else.

 

I'm holding on for the long term as well Inflexion.