Gold $800.00, Silver $16.00 next target?

Well, I offically paid scrap for my gold spouse now.

 

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I like how people always pick certain time frames to prove their point. Let's take a look at another time period. Gold was selling for $20.00 an ounce in 1929. The stock market topped out at $381.00. Today gold sells for $800.00 an ounce or 40 times. The stock market should be at 40 times 381 or 15,248 to be just even and it's only 13,850 or so. Both are subject to the same inflation so golds done better. Also if you own gold you have something of more value than a piece of typing paper.

 

china and india needs

china, taiwan, hong kong, southeast asia, middle east countries, india, pakistan and bangdalesh. not to mention korea and japan. population wise, how many people?. how many gold they have to own?. just think. these countries are becoming richer and richer. gold hit $2,000.00 is just like a piece of cake.

 

Need for Caution

Reason for caution with a gold correction..look no further than the current oil prices. According to OPEC, which they rarely are honest about anything, stating there are no supply/demand issues and the oil price is being driven up by investors. http://www.reuters.com/article/businessNews/idUSL3028585520071030?feedType=RSS&feedName=businessNews

As some people know, Gold has been following the oil prices. The correction will come when Investors in oil futures start cashing out. And when it comes, it will come pretty large.

Here is another article. Comments from the second largest oil-exporter. Stating there studies show oil around $50 a barrel range. Can you imagine what happens to Gold if investors start taking profits on Oil futures? Gold back down in the 600 range or lower
http://www.smh.com.au/news/business...ary-says-russia/2007/10/21/1192940902976.html

 

You're leaving out dividends which can be reinvested resulting in compounding, something you don't get with gold which is simple appreciation.

As for my "piece of typing paper", I can sell it and use the money to buy a shiny new car or some shiny collectible coins.

 

monday openning

monday should see gold open and trading between $815.00 to $825.00 range.

 

All that dividend stuff is fine if you were always invested in dividend issuing companies and if you never owned a stock in the last 77 years that went down or out of business like enron. Most people diversify winning on some but losing on others. there is a lot of ways to lose your money in the stock market and only one way in gold, if it went to zero. Since gold has been around for thousands of years as valuable and the U.S. dollar for a couple hundred years I wonder which will win out over the long haul. The dollar has lost 97% of it's purchasing power since 1913. gold has lost nothing. In fact 20 of your 1913 dollars would buy an ounce of gold now you need 806 of your dollars to buy an ounce of gold. It's still just an ounce of gold but you need 40 times the amount of your dollars to get one.

 

Elaine:

Not to be a contrarian, we already have one of those here, but I am willing to bet that it closes down on Monday.

 

Oh yeah, and I was wondering. Am I missing something here? (Like usual ) If the spot price of gold is 806, someone mentioned that their first spouse coins were now worth their melt. IIRC, we paid $410 and $440 for them. Wouldn't they be worth 403 in melt?

 

spouse gold

you can see the next or 4th spouse gold that the u.s. mint offered will be around $500.00.

 

modern commem gold

the next modern commem gold will be around $300.00. what about a new prices for american eagle gold series?. i see proof am eagle gold one ounce might change to $950.00 and above.

 

All that "dividend stuff" has tripled my 401K plan in the past 4 years. I'm invested entirely in mutual funds which is a mixture of winning and losing stocks and those with and without dividends. The overall trend has been inexorably upward. Sure the dollar has lost a lot of its purchasing power since 1913, but on the other hand, we all make a lot more of them than we did back then.

 

You better hurry before the mint does another raise next week (Monday):secret: you can buy the unc gold eagles for almost the price of gold only 219.00 for quarter oz W mint hya:

 

Or you can get it from a coin dealer for a couple dollars cheaper and save more by not having to pay shipping from the mint

 

Not sure about that, just got done talking to a dealer friend who will be at show tomorrow at Parsippany, New Jersey and he has raised all of his gold and silver coins There is a 50.00 difference between this week and last week per oz

 

But what is his premium over gold? If it's much higher that $15 over, then he is not charging a very competitive rate

 

A dealer is not going to sell you a gold or siver ingot for less then 5% or more over spot. and if is a coin it is at least most times higher then 5% 806.00 @5% is 40.00 at 7% 56.42 The dealer have to make a living also

The american eagles from the mint not the bullion ones are always higher

 

If you believe that dealers are not going to charge less than 5% for bullion, then you have been brainwashed. I am referring to bullion, not numismatic coins..in case there was any confusion

If you would like to buy some Gold Ingots for less than 5%, I will be more than happy to give you the number of a dealer that sells it around 2-3% over. A reputable dealer as well..in biz longer than 30 yrs.

 

prices of coast to coast

one oz $894.00 am eagle bullion unc. without w mint mark
1/2 oz $455.25
1/4 oz $248.00
1/10 oz $100.00
4 pc set $1,690.75

w mint mark, you can buy it at u.s. mint.

 

Why are the 4 individual pieces cheaper ($1689.25) than the whole set?