Next Level: GOLD $1,350.00

fyi, where things are currently with SLV:

iShares Silver Trust (SLV) Crossed Above 50-Day Moving Average [from MarketIntelliSearch.com 8/16/10]

 

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CURRENTLY:

GOLD: $1,226
Silver: $18.584
Platinum: $1546
Palladium: $497

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Eventually Gold will sputter out... it's already been almost a month since the max of 1250 was reached, and it went down to 1150 a week or 2 ago... Once gold gets down to a reasonable price, along with palladium, a LOT of people who payed 900-1k/oz are gonna be ****ed because it's gonna stay down as long as the economy recovers, and it will. Oh and platinum is gonna go back to 2400-3000/oz easy. Palladium will do what it always does, flys up to 600-800 and then back down to 300-400. If you guys want to make money at any REASONABLE pace palladium is by far the most volatile, and therefore profitable, metal around, followed by Platinum. Gold is pretty, and generally has a flat increase in price vs time, but it is NOT worth 1000/oz and Platinum IS worth every penny they charge, mainly because 90%+ of Platinum and Palladium is USED to MAKE STUFF (not just jewlery/coins). Gold is basically useless if you price it near platinum, it's softer, easier to oxidize, melts at a WAY lower temp, and conducts electricity worse than 18$/oz silver... and not much better than copper. Gold is a vanity item, it was once worth it's weight in SALT (NACL)... hence the phrase being "worth his/her salt" and not gold. Now that every cellphone, laptop, and electronic device in the world needs either palladium or platinum... along with EVERY vehicle (sans military) produced in the entire world (with demands going up every year as emmission standards rise) you can bet on platinum and sell your gold NOW or when it hits 1250 again, cuz it ain't going higher. It's just too easy to find and too useless to be worth more than that, unless people really believe those dumb commercials saying "INVEST IN GOLD"... Those INVESTORS are SELLING THEIR GOLD because they know what's coming. Mark my word, Gold may take a year or even 2 to go back to 900/oz but it won't go higher than 1300. Unless I underestimate the stupidity of the people watching those commercials. I hope I do, for all of your sake. This country is gold crazy and the day deflation slaps us back to sanity will be a bad day for everyone. Hell I even bought a few ozs @ 1050 dumbass I am, sold them when it hit 1250. made a paltry $500 but im glad it's all in Platinum now.

 

CURRENTLY:In UK/EU markets for Wednesday 8/18/2010...

GOLD: $1,222.70
Silver: $18.44
Platinum: $1546
Palladium: $495

US market opening in approx two hours forty minutes...

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CURRENTLY: At the US market opening for Wednesday 8/18/2010...

GOLD: $1,225.70
Silver: $18.45
Platinum: $1545
Palladium: $493

 

CURRENTLY:

GOLD: $1,222.10
Silver: $18.21
Platinum: $1531
Palladium: $489

 

http://www.cnbc.com/id/38750568

 

$1,340 POG long-term... no kidding! I've been trying to tell you that would be the case since you began the thread nearly a year ago.

Tell us what you think Elaine, don't just post these raw links like you have been using lately.


CURRENTLY: continuing to fall today...

GOLD: $1,220.90
Silver: $18.23
Platinum: $1527
Palladium: $489

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CURRENTLY:

GOLD: $1,229.60 -- High so far today $1,230.60
Silver: $18.38 -- High so far today $18.49
Platinum: $1539
Palladium: $493

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gold high - $1,233.20/oz.

 

Only on the up tic do we get an Elaine post... not a very balanced view of things.

CURRENTLY:

GOLD: $1,232.50 -- High so far today $1,233.20
Silver: $18.46 -- High so far today $18.50
Platinum: $1543
Palladium: $495

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Japan is a very large consumer of platinum for jewelry, at one point it was the largest utilitzation of platinum after chemical catalysts. I doubt over 90% of platinum consumption is industrial. Do you have a source for this information?

 

gold high - $1,233.50/oz.

 

CURRENTLY:

GOLD: $1,233.10 -- High so far today $1,233.50
Silver: $18.48 -- High so far today $18.50
Platinum: $1542
Palladium: $496

 

Looks to be holding on to the gain this afternoon.

CURRENTLY:

GOLD: $1,230.90 -- High so far today $1,233.50
Silver: $18.43 -- High so far today $18.51
Platinum: $1540
Palladium: $495

 

Reply to guy who said "Japan uses all the platinum for Jewlery"

http://en.wikipedia.org/wiki/Platinum
Of the 239 tonnes of platinum sold in 2006, 130 tonnes were used for vehicle emissions control devices, 49 tonnes were used for jewelry, 13.3 tonnes were used in electronics, and 11.2 tonnes were used by the chemical industry as a catalyst. The remaining 35.5 tonnes produced were used in various other minor applications, such as electrodes, anticancer drugs, oxygen sensors, spark plugs and turbine engines.[27]

49/239 = 20%... aka 80% of Platinum IS USED FOR USEFUL STUFF... sorry I was off by 10%, but that was 2006 and it's probably 90% by today.


It's really not looking good for gold... if you look at the 1 year graph it's nearly flat. Gold has peaked, or will peak within months, and you can't tell me Platinum isn't 100x more useful and BETTER for jewelry than gold, cuz nobody buys 24k gold jewelry but people will buy .9995 pure platinum rings all day long. Yes china is buying gold, but gold is 10x easier to produce than Pt, which requires actual electrorefining or hydrometallurgy to extract from copper or nickel ore... it doesn't just sit in placer deposits ALL OVER the globe like gold, save the urals and columbia platinum has very few sources and very many applications. Gold has many sources and few applications. It's best quality is it's appearance.

 

End of Day: Not a bad end for the day in US markets.

GOLD: $1,230.30 -- High so far today $1,233.50
Silver: $18.41 -- High so far today $18.51
Platinum: $1539
Palladium: $493

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Ok, I just thought 90% was high. I am not disagreeing with you, I like platinum for an investment. To me the major thing gold has going for it is fast growing economies covet it as a store of wealth over almost everything else. I know, my wife is Thai and to them only gold is real wealth. BTW all gold jewelry in Asia is 24K. US gold is seen as cheap and impure there, you couldn't give it away. Platinum is not good for jewelry really, since its heavy but scratches very easily. I would prefer silver myself.

An upper limit to platinum would be its price. At certain price points other metals, like palladium, are substitutes. Since this metal is used heavily for manufacturing, you need to be aware of that limit that is not in place for gold, since as you point out most demand is not industrial.

Just playing devils advocate.

 

Think about emissions control... the ONLY good catalysts for both petroleum production and emissions control are platinum... palladium can be used but requires higher quantities and due to it's volatility on the market it's not nearly as desireable. Your car has about 1-3g of platinum in it. Your motorcycle has .5g, your RV has 10g, your laptop has 100mg, your cellphone has 20mg your computer has 50mg, you are surrounded by platinum and don't even know it! And every year they pass stricter emmissions, yet cars produce more hp... how? You guessed it! More Pt. It's a GUARANTEED bet, if you look at the platinum chart it looks like palladium but 1 year = 20years in platinum, and right now platinum is at a "reasonable" price, not GREAT... 1300 would be GREAT, but it will hit 3k in the next 2-3y and all the gold investors will be green with envy at the ridiculous gains made by people who invested in platinum, as they sit on their 900/oz gold and wait for the next recession. It's a proven fact that during a recession gold goes UP and Pt. goes down, as the economy recovers there is a period of neither growth nor depreciation and that's where we are now, gold is flickering between 1150 and 1250, that fire will soon be extinguished by Ford and GM finally producing good vehicles (look at the 2010 fusion, COTY 2009). Once the auto industry recovers, there is a period where there will be little job growth yet the economy will continue to grow, and finally once corporations feel safe enough to start hiring again we'll be back to 7% unemployment and gold will be worth 1/2-2/3rds it's current price. This is over a period of YEARS, possibly 4-5. But gold won't go higher than 1300, and don't brag if it hits 1310 and then dies, that 1300 = a rough estimate.

I'm not trying to say gold isn't cool, I own a few ozs and its better looking than platinum, but it's too soft in it's best form and adding platinum to it makes it MUCH harder w/o destroying it's looks. Platinum is the superior investment if you're not gonna wait 30 years to get your money, that's a fact. If you do wait 30+ years, maybe your right gold is the better investment.

 

CURRENTLY: Opening in Asia-Pac markets for Thursday 8/19/10

GOLD: $1,231.60
Silver: $18.50
Platinum: $1539
Palladium: $493