Next Level: GOLD $1,350.00

My guess is, stocks and commodities are dropping so investors are taking profits from PMs to make up for it. Golds march upwards will continue whilst banks are printing money.

Options expiry coming up too. A lot of downward pressure from the large institutions there.

 

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I know this isn't the currency thread, but I like to post some currency comparisons..

With USD at 1.000 Canada is at 1.064, I think that's the largest gap I've seen...

USD at 1.000 and Euro is 0.80


It's so strange that PM's prices fall against the dollar, yet the Canadian dollar gets stronger, and that has no effect on PM prices...

 

Banks dont print money.

 

low for the day so far (new york):

gold - 1,174.20
silver - 17.47
platinum - 1,484.00
palladium - 404.00

note: gold currently traded very much higher.

 

They just make the tax payers pay for their mistakes...


Central banks print money right? Or am I wrong too....

 

Only the Federal Reserve prints money in the US.

 

You're right it should be qualified with "central" banks. And if we're being pedantic central banks don't print money, they click a button on their computer.

Banks can create money too. Read up on fractional reserve banking.

 

Yes I think in this current day and age, with the population growing faster than you can turn your car around and all the flip flopping that goes on with our illustrious gov't. I feel that the dollar's affect on the price of gold is still there but not to the extent to what it once was. Am I wrong? Serious question as I still have alot to learn.

 

But it all comes down to that at any time if gold decreases in price, there are more sellers than buyers at that level. If it increases, it is the reverse. As the situation tends to look worse, I expect to see fewer big time buyers. Sure the small player says they will buy more when the price drops, but it appears few do. Some people may be scared of the financial problems ahead, but most instead of buying gold, doesn't buy much of anything. That is why short term possibilities of Inflation are getting lower.

It is my opinion that the upsurge of gold was large players buying physical gold to be able to sell it back to small timers. Notice how at the peak, all of the commentators were stressing ~ buy gold , the only safe play. Someone realized a profit and it wasn't any small players. I do hope they bought some protection to cover the loses they have sustained since their purchases. If people have to sell stocks to stop loss, as they have monetary needs, they will sell gold also. IMO.

 

Gold is only a couple of days off the peak. I think you might be writing it off too soon. This sort of rapid fall in price seems to happen regularly. Time will tell, but for now I think the path of least resistance is still up.

 

low from other part of the world:

gold - 1,165.60
silver - 17.47
platinum - 1,451.00
palladium - 392.00

currently % increase since dec.31,2009:

gold - up 7.5%
silver - up 4.3%
palladium - up 3.3%
platinum - down 0.5%
note: instead gold is the best.

 

Keep your eye on interest rates (I'm partial to the 10 year note)...that will define the path for gold going forward (imo).

 

CURRENTLY: after the US market open and following a big day in PMs and equities markets...

GOLD: $1,173.60
Silver: $17.53

Platinum: $1,489

Palladium: $421

Platinum and Palladium totally got served yesterday. Had been quite highly priced for some time and really pulled back in the recent spikes and dips with silver and gold.

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Can't wait to see how the DOW does today.

The delta between USD and CDN continues to increase....

 

if gold is going for so much woudln't this be a pretty good deal?http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=150446208729&ssPageName=STRK:MESELX:IT

 

fools_gold: I like that you keep us appraised to the currency ratios here. It makes a nice balance to the general discussions, links and PM price posts.

CURRENTLY: GOLD: $1,175.10
Silver: $17.55

Platinum: $1,505

Palladium: $435​

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Actually it's because I'm just too lazy to go to the currency section. LOL...

There's only a handful of threads I follow here, basically whatever is in the bullion forum....haven't really had any desire to venture out to the other forums....

 

I compare everything to USD, why not, the world revolves around us anyways...


USD = 1.000

CDN = 1.073

Euro = 0.796

AUD = 1.210 <---Go Australia!!!

 

agreed i would buy if i had the money

 

true. Gold is only goign to rise in price