Gold hits record near $1,200/oz as dollar slips

LONDON (Reuters) – Gold hit record highs at $1,198.70 an ounce in Europe on Tuesday as the dollar weakened against a basket of currencies in the wake of policy comments from the Bank of Japan, adding to strong investment demand for the metal.
Buyers have been cheered by the strength of gold's recovery after a correction to below $1,140 an ounce late last week, which was met by strong fund buying, traders said.http://news.yahoo.com/s/nm/20091201/bs_nm/us_precious_gold

 

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it seams it is hovering under the 1200 mark waiting
for a break out
dave

 

Today may be the day:
GOLD
12/01/2009
09:58
1193.20
1194.20
+14.30
+1.21%
1190.20
1197.30 high for the day.

 

Oh so close!


1197.70
+17.80
+1.51%
1190.20
1198.10

edit: Make that:
1197.30
1198.30
+18.40
+1.56%
1190.20
1198.50

now: 1199!


and silver:
19.05
19.10
+0.58
+3.14%
18.65
19.10

 

Gold $1,199.40
Silver $19.18


I keep saying this, but, "CT really needs a live market PM ticker in the side bar columns."

 

gold high now $1,201.80/oz.

 

gold high now $1,202.50/oz.

 

Unbelievable. What to do, what to do. The guys at www.zerohedge.com say that a pullback is imminent. They had an article on there yesterday or this morning about it, I think it was posted by one of the readers.

 

To quote Mel FIsher:
"Today's the day!"

1198.60
1199.60
+19.70
+1.67%
1190.20
1202.50

 

Oh yeah, what was that bold prediction someone made awhile back?? I guess the price of gold blew that one out of the water for sure! This is great and an exciting time for all coin collectors!! :thumb:

 

Pullbacks are normal. Markets never move in a straight line for long periods of time. A pullback would not end the gold bull market. It will end when massive speculation makes the price go parabolic, or when all of the monetary excesses disappear, whichever comes first.

 

we will see gold well up in the after market or there is going to be a lot
profit takers tonight
gold has been a great investment even in the short term
last 60 days up 55% you would not get that in any bank or stocks
in my op
dave

 

Gold is moving higher in Asia, it's Wednesday 12/02: $1203.10/oz.

 

Maybe take a few days to get used to the $1200 level, then we may never see $1200 again. That's what I said at $1000 and at $1100, maybe this will be the same.
Off thread here, but are we at deadline on Ryan's contest? . . . Now just the wait?
Chuck

 

up $1,203.50/oz.

 

.

 

Currently gold in Asia is trading at $1208.80/oz. [Wednesday 12/02]

 

Ok my prediction was wrong, but the basic idea that it is a bubble still holds some water. Watch for a big spike then an ugly fall (another bold prediction) sell when it spikes.

 

$1,210.10/oz.

 

Ummm....which spike?