Gold going to pass $1,000,000 this year

Spot gold price for the year was averaging $923/oz through early April.

By Tom Stundza -- Purchasing, 5/8/2008

The short-term price of gold may exceed $1,000,000/oz this year or early 2009, suggests the London-based consultancy group GFMS in its latest survey of the gold market. This probably isn't much of a stretch since the spot gold price for the year was averaging $923/oz through early April, and the GFMS analysis says investors are driving up prices simply by seeking a “safe haven” for investments.
The speculative investment in gold has been caused by the ongoing credit market crisis, lower U.S. interest rates, rising inflation and heightened political tensions, says Philip Klapwijk, GFMS' executive chairman. In fact, while gold experienced a slight late first-quarter slippage in prices, GFMS expects the ongoing credit crisis to continue fueling investment purchases of the precious metal. “Driven by growing risk aversion, a weakening U.S. dollar, a clearly problematic financial services sector and expectations of lower equity prices, investors have increasingly recognized gold's 'safe-haven' attributes,” Klapwijk says.
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EVERYONE PANIC AHHHH


:rolling::rolling:


(I hope I'm allowed a sense of humor here)

edit - you are, but what you are not allowed is to post copyrighted material

uhrrrrrr admin it says who its by its not like i said its by me

 

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Welcome to speculation - people just don't understand what they are into like 2008 gas prices.

 

1M an ounce! Didn't realize gold was going up in value that fast!

 

if gold hit $1,000,000 an ounce. congratulation to every gold collectors. we are all millionaires. hopefully it is not zimbabwe currency.....

 

I think I'll wait til it's a little higher...maybe 1.3M. Have to maximize the profit, ya know?

 

I don’t think it will hit 1 million a once. Everyone will be millionaires just melt down your gold jewelry and such.

 

I have a few ounces of gold I will sell for 1M .... I also have this bridge that you may be interested in too!

 

What about that 1964 Peace Dollar of yours?

Phoenix

 

man, what about our income taxes?. it should be very high.....maybe i wait for 2 million dollars per ounce. half for government and half for me and my family.

 

Ssssshhhhhhhh! I don't know what your talking about or who you are. :goof::bigeyes:

 

Million bucks eh?

 

Hey, how much gold do they use in filling these days?

 

u.s. dollar can be worth 1,000,000 to one euro or one british pound if we don't wake up and start doing the hardship that china did over the past 30 years.

 

is that from the Onion

http://www.theonion.com/content/index

 

I don't understand... what?

 

We are printing too much money and devalueing the dollar. Need to just take our lumps and get on with it instead of draging it out.

 

If Gold was to hit one million this year, what would that say about gas prices?

 

If you go to their website
http://www.gfms.co.uk/newsletter_current_issue.htm

You will see that they said $1,000 /oz, not 1,000,000/oz.

Jim

 

It's just pennies under $900 now. Maybe it'll hit $1,000,000 on Monday.

You might want to sell at $1M but who will buy?

Bruce

 

I'm selling my home, car and everything else I own to buy gold!