Next Level: GOLD $1,350.00

Currently:

GOLD @ $1,174.50/oz.
Silver @ $18.18/oz.
Platinum @ $1,713/oz.
Palladium @ $543/oz.

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So what's your guestimate for gold's recent surge?

 

Greece & Spain + Euro declining. Momentary reaction to reports, more safety buying.

 

Ok, I was going to go there as well as a guestimate but here's my fundamental question...

So how do those other countries who deal in a different currency have any effect on the price of gold from our POV through the USD?

They would either be trying to get rid of the Euro and hoarding USD as a safety net or any other currency for that matter. And if they did hoard USD, wouldn't that improve its value making it stronger and thus gold price would go down?

This is what I am confused about....

 

I'm not really clear either on currencies, currency markets and the impact felt by these things. However, I don't see any less pressure on gold/silver demand. I'd like to know more about the questions you raised as well. I just don't have the experience to speak to those factors, yet I sense them as a catalyst effecting commodities, which I know a bit more about.

 

Perhaps just talk about greek/spain and euro issues is prompting those here in the states to pickup some more gold. Who knows what quantities of gold need to be bought for it to have this surge, it could be very little amounts...

I also haven't really paid much attention to futures, doesn't that normally correlate with the prices of PM's?

 

Just rolling along, waiting to make the big grab!! I wonder how many naysayers are gonna buy a gold coin today?? Hopefully someone does! Ya gotta get in on the ground floor to make it to the top, that's just the way it works!! I love gold, such an exciting precious metal!!! ​

Currently: ​

GOLD @ $1,174.50/oz.
Silver @ $18.18/oz.
Platinum @ $1,713/oz.
Palladium @ $543/oz. ​

 

The naysayers will say it's too high and won't buy.

Then when it goes down, they'll say, "See, it was a bubble..."

So the naysayers will never be buyers...

 

Agreed!

 

Right now, gold is in the penthouse, not the ground floor.

 

Yeah, I know you're right but I just like to throw that out there every now and then b/c the bottom line is ya gotta start somewhere. :thumb:

 

It's true you do need to start somewhere. I started my mom on some gold just a little under $1100. As long as you're not cash poor, it's fun watching the roller coaster ride....

It gets scary when it dips and you're cash poor and you're thinking of getting out before it gets worse.

I've lost a lot of faith in silver, I know, I haven't been a long time owner but I'm considering trading it in for gold...

At least when gold goes up or down, it's in dollars...not cents...

 

The presumption is that at least some of the money fleeing Greece and other nations with weak sovereign debt will flee to gold as a safe haven. There is also the beginning of a realization that it is not out of the question for something similar to happen here, so the USD is not a perfect hiding place anymore.

 

Currently: In UK/EU markets...

GOLD @ $1,168.70/oz.
Silver @ $18.20/oz.
Platinum @ $1,719/oz.
Palladium @ $551/oz.

US market opens in 30 minutes...

 

Currently: At the US market open...

GOLD @ $1,168.80/oz.
Silver @ $18.15/oz.
Platinum @ $1,719/oz.
Palladium @ $551/oz.

 

I saw this fox headline so here's the link.

http://www.foxnews.com/politics/201...alling-potential-vote-puerto-rican-statehood/



Being a cash strapped nation, wouldn't introducing national healthcare ontop of bringin in another STATE make things even worse?

I admit I didn't read the entire link, but just logically speaking does it not make any sense, Cali was issuing OUI's last year and we want to adopt another state? LOL...

 

This happens periodically, but the citizens of Puerto Rico have always voted to maintain Commonwealth status. Nobody in their right mind will vote to increase their taxes in that manner with no real offsetting benefits.

 

Really? Never knew that...... maybe our gov't is hoping that if they can chip a a rock long enough it will eventually crack. LOL, in this case, PR giving up and saying fine we'll join the U.S.!

Looks like they posted an update to the article... but since this is extremely off topic let's just end it here. Anyone that wants to read more can do so..

http://www.foxnews.com/story/0,2933,591683,00.html

 

Currently:

GOLD @ $1,169.90/oz.
Silver @ $18.51/oz.
Platinum @ $1,739/oz.
Palladium @ $555/oz.

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Currently:

GOLD @ $1,168.10/oz.
Silver @ $18.51/oz.
Platinum @ $1,737/oz.
Palladium @ $553/oz.