how about this pop up? all time high for gold?

looks like an all time high for gold. Yes no?

http://www.kitco.com/market/

 

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Dan, the wavy lines. Why not just come out and state it. Gold 1038.50....

Lord I hate these graph thingies...

 

All bets are off, this thing could could do anything at this point. We may see something extraordinary.

 

Yes, but is it a breakout or false breakout? As for me, I'd get short as hell Au in a swing trade.

 

No, not even close. The all time high was January 21, 1980 when gold closed at $850/oz (http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx).

After allowing for inflation, that is $2,226.44 in 2009 dollars (http://data.bls.gov/cgi-bin/cpicalc.pl). That's how high the price has to go to establish a new all time high.

 

Before...

After...

What a difference a day makes!

 

"Buy the rumor; sell the news." Today was a news day. Sell it.

 

Ok, we are well beyond $850 and "allowing for deflation" has been debunked by ever lowering technology costs. In fact your dollar can buy hundreds of times more than it could in 1980. That "inflation" approach has not been valid for years.

 

I am not saying up or down, I am just saying wow.

 

you beat me!

 

Just having a little fun with ya!

I agree...WOW!

At some point, you have to think folks will start selling and prices will at least stabilize.

Of course, that's the beauty of coins...the higher prices generally result in lower mintages. The 2009 Gold Proof Buff may turn out to be a low mintage coin.:high5:

 

That's absurd. What is your mortgage payment compared to 1980? What are your property taxes? What is your salary compared to 1980. How much did a new car cost then? How much did you pay for a gallon of gas?

Look at it another way. If you had bought gold for $850 per ounce in 1980 would you feel like you are ahead now?

 

Really? Were you there? In 1980 gas was $1 [up from 0$.30 a few years earlier] and I bought my Mustang new for $3,400 in 1979. A two bedroom garden apartment rented for $275 per month. Toilet paper was 9cents per roll, and steak sold for about $2 per pound. My phone bill was about $11 per month, and the electric bill was about $30. My property taxes were 15% of what they are now. You could go out for lunch and soup and a sandwich with coffee was $1. It's true that we have more gadgets today, but the cost of living is waaaaayyy higher now.

 

The central driver of the economy is technological growth, lowering tech costs is the main show in regards economic matters everything else is a sideshow.

 

Try to explain that to people on a fixed income who used to eat roast beef and now eat cat food.

 

There's also Ramen noodles for $.35 a package....not too shabby to stock up on except for it's extremely high sodium and some even have MSG....

 

I remember receiving my allowance back in the 1980's I would get $1.50 / week and that was alot of "gumballs" or 6 candy bars a week if I so chose to spend it that way today that same $1.50 is a small hot chocolate at starbucks w/o the tax or 1 candy bar and $0.33 change...

yea the 80's were horrid...I LOVE the prices we have nowadays I like paying $3/gallon of milk and a year ago paying $3.28 or so a gallon of gas...at least the price has dropped being now at $2.33 / gallon :headbang:

BTW I only once was able to buy gas in my life for less then $1.30 / gallon those were the days it made me feel like when I'd pump the gas for my mom at the gas station and it costed $1.05 or so

edit: what cat food isn't as good as roast beef?

 

I was pretty young during the 80's, but wish someone could have taught me a lesson in FRN's/gold/silver and told me to stock up and not waste so much money on nintendo games!!! Then again, you can't put a price on YOUTH!
Just ask michael jackson...err....maybe not...:rolling:


It actually wasn't that long ago you could get gas pretty cheaply. I remember driving down I-95 in the late 90's, and somewhere down south around georgia there was a gas station called Happy Gas. They had regular gas for $0.99!!!

My friend and I couldn't believe it! We've never seen that before....

 

That would be true if high tech items were the only thing you had to pay for. However, for most people, housing, taxes, utilities, food, clothing, insurance and medical care comprise the vast majority of their expenses and those things have increased dramatically over the past 29 years.

If you really believe what you are saying, then you should be able to live comfortably on the same salary you got paid in 1980 and you should be absolutely thrilled if your salary were 22% higher than it was in 1980 (which is the percentage increase in the price of gold since then).

 

I'm 28 and recall gas at 89 cents, a loaf of bread at 75 cents, a can of Pepsi at 35 cents, and a roll of paper towels for 49 cents -- and what scares me is that I'm this young and can vividly recall that from the late 80s while watching my parents shop and laying out the dimes and quarters for my childhood vices. -- I can only IMAGINE how bad it will be 20-25 years from now...$6 gallons of milk, $4 bread....Hang on tight, it's going to be a bumpy ride. :bigeyes: