Next Level: GOLD $1,350.00

$1162?? I've been had!!!

 

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The Dubai debacle dropped spot gold below $1140, but it's back to $1162 att.

 

Maby if your lucky it will corect down another $100.00 or so. Then you could buy more!

 

That's what I'm hoping...drop another $100 so I can buy the Margaret Taylor, go back up until next Fall, then drop back down again ahead of the mid-term elections.

 

MetalBidAsk Gold$1,154.00 $1,155.00 ($33.00) Silver$17.91 $17.96 ($0.85) Platinum$1,420.00 $1,430.00 ($51.50) Palladium$356.20 $361.20 ($11.80) Updated:11/27/2009 8:27:16 AM CST

GOING DOWN FAST! I sure am glad I sold so much last week!

 

The rise in gold is in no way a "bubble." People aren't buying on margin, there isn't widespread public participation, the price rise isn't parabolic, and the price isn't gapping up. None of the typical characteristics of a bubble exist. Also, gold isn't the CAUSE of the problems you cite, and a fall in the gold price won't fix anything so don't blame gold -- there is no cause and effect. How do I hope this will end? I hope it will end with the ratio of the gold price and the Dow Jones Industrial Average about 1 to 1. Then it will be time to shift into another asset class, whatever appears promising at the time.

If you read too many internet articles from the doom and gloom industry [and yes, it is an industry], it will paralyze your ability to analyze alternatives and act on them.

 

Sigh before I could buy more it had bounced back. I would like to see Gold go sideways for about 2 weeks so the dealers will narrow their spreads.

 

Agree totally!!

 

Gold actually outperformed the stock market and other commodities today. Gold came back about two thirds off its lows.

There are expectations that the dollar will gain next week. We'll see how it affects gold.
Today gold performed more like a "safe harbor" asset rather than a "risk asset" which bodes
well.

 

Despite views to the contrary, the US$ was used as a reserve currency when the Dubai event broke

 

In spite of perceived problems with the dollar, it's still the ultimate safe harbor currency when a crisis hits. It's all about liquidity and the global view of our overall economic, political and military strength.

 

Yup. The Dubai event showed how people REALLY react. Now it may be different in the future, its clear that the dollar is still the choice

 

Good evening/morning:

It is December 1st in Asia and Gold has just opened at $1181.90/oz.

Last week saw a recent high of $1196.00/oz. on 11/25.

 

Perhaps more importantly, Gold looks to be stablizing a bit as the US$ stablizes a bit.

 

Yep. It was humorous watching all the hair pulling last week when the PM dipped into the $1160s. LOL!

Currently a notch lower in Asia now @ $1179.70/oz.

 

I wanted it go even lower so I could buy more! At this level, I am less confident....however if it stablizes for a bit...then I might just jump in.

Hopefully in 6 months I won't be looking back at this, gold at $2200, wishing I had bought more now

 

Good morning, gold in Europe is currently at $1191.40/oz.

Last week saw a recent high of $1196.00/oz. on 11/25.

 

Nice price rise! I am selling another 20 1 ounce eagles today! nothing like a little profit to start the day!

 

$1240.00 would be an extra thousand for you Yankee.

Last year the state of Oklahoma hired an auction company here to sell off the contents of unclaimed safety deposit boxes from years past. I wonder if it wasn't somehow rigged, because of the hundreds of sealed bags from the boxes were sold, I only remember seeing one item that had any amount of gold, and it contained 9 bright and shiny new Canadian Maple Leaf Gold one ouncers. They went for $9004.00. Looking back I guess I should have bought them. There was one bag that contained a $500 note, but that's the biggest things out of about 1200 bags, or "box contents".
There were lots of bags with wheat pennies in it, and you would they were being saved because they were svdb's, or 1914-d's, but I don't recall seeing anything in particular worth much, and almost all of the silver in the bags were just run of the mill circulated coins. Oh well, just thought I'd throw that in.
Chuck

 

gold future high $1,200.50.
gold spot high $1,199.80