| Author |
 Replies: 16 / Views: 2,052 |
|
Valued Member
United States
455 Posts |
So gold is north of $700, that's a record high, no?
|
|
|
|
Bedrock of the Community
United States
14454 Posts |
I guess its according to how far you are going back, I think it was like $850 January 21st 1980 only to drop to $737.50 the very next day. It was also up to $715-725 in may of 2006
Edited by Bryan1315
09/18/2007 01:20 am
|
|
Valued Member
 United States
455 Posts |
I meant an all time record high. I think I'm reading the wrong chart, or reading the chart wrong.
I guess it depends on the currency, $US, $AU, etc.
Very interesting stuff, nonetheless.
|
|
Rest in Peace
United States
2884 Posts |
Intraday on 4-25-80 it broke $900.00 pr oz level. It closed on that date at $895.00. When you consider that was 27 1/2 years ago it's quite amazing.(remember silver whacked on $50.00 pr oz!) It has fallen as low as $220.00 pr oz at various times since then. Should have snatched up a bunch of Saints and $20.00 Libs! Mike  |
|
Pillar of the Community
 United States
5953 Posts |
I bought a bunch of Eagles at $281 I am tempted to sell but I would only do something silly like replace my truck with a slightly newer one... So I'll keep them for a rainy day
|
|
Pillar of the Community
Belgium
2078 Posts |
I read on an investment forum the US mint stopped selling 2007 gold eagles because their price was to close to melt market value .
|
|
Pillar of the Community
Belgium
2078 Posts |
|
|
Pillar of the Community
United States
597 Posts |
There are indicators out there that paint a rosy opportunity for gold to rise in value, wait, gold never really rises in value, the only thing that is a constant is gold. What actually happens is that fiat money printed by governments with only faith backing them, loses value against the constant value of gold.
|
|
Valued Member
United States
144 Posts |
A coin dealer I spoke with recently (and I also read this in a Scott Travers book) was trying to demonstrate what a good buy gold is, by noting that 80 years ago, a $20 gold piece (~1 oz gold) would buy you a top of the line suit, and today it still will. So I went home and looked up what $20 in the stock market for 80 years would be today (including the crash and great depression): about $37000.
|
|
Pillar of the Community
Belgium
2078 Posts |
My grandparents and mother spend last worldwar
in the south of france on basis of a number of 20 $ St Gaudens and english pounds
They rented a car and a driver and just went there
If I am not mistaken , diamonds or gold saved many a persons live during the last worldwar . Gold is an insurance policy .
My father had none and spend several years as a guest on a german farm having the liberty to eat worms ans cats and gras etc
The germans offered reparations when he was allready dead like most of his compatriots
|
|
Pillar of the Community
United States
2269 Posts |
I just checked the current price of gold and its now up to $723.00. I wonder if the rising price of gold these last two weeks, led the US mint to make all Uncirculated gold Eagles "unavailable".
|
|
Pillar of the Community
United States
1952 Posts |
I was thinking the same thing Spider. funny great minds think alike lol I have been waiting for the mint to let loose of them but I don't think it will happen this year. so if anyone got them 07 eagles before they shut it down you best hold on to them they are going to hit the roof next year. I don't know how many or if any went out of the 07 but I don't think many made it. wish I would have looked into it sooner
Gary
|
|
Pillar of the Community
Belgium
2078 Posts |
quote:
Due to the increase of gold bullion prices the U.S. Mint made the decision on Thursday September 13th, 2007 to suspend the sale of 2007 American Gold Eagles. Upward movement of gold prices has put pressure on the U.S. Mint by increasing the liability of short changing the U.S. Government by selling the public an ounce of gold below market value.
http://catalog.usmint.gov/webapp/wc...tegory=10191 |
|
Pillar of the Community
Belgium
2078 Posts |
quote:
Due to the increasing market value of gold, the American Eagle Gold Uncirculated Coins are temporarily unavailable while pricing for this option can be adjusted; therefore, no orders can be taken at this time. We expect products to be available with adjusted pricing on or after September 27, 2007.
http://catalog.usmint.gov/webapp/wc...ory_rn=13238 |
|
Member
United States
3242 Posts |
I say if you pay for gold now U will be happy with the gains buy 2010.we all know the world will end 2012,so have a good 2 years
|
|
Valued Member
United States
259 Posts |
At over $720, gold hit a 16-month high on Wednesday. This is probably due to the US dollar declining after the Fed cut the interest rates by 50 basis points. Of course, gold was strengthening before that. Alot of factors are going on here. Gold is a safe haven versus the declining dollar; it's a hedge against inflation, which some think be the result of the rate cut somewhere down the road; there's festival buying in India and the Middle East; and, Larry Kudlow says the recent spike is due to tensions with Iran. So I assume the trend in gold prices will be upward, probably in fits and starts, because most of these bigger issues are going to be around for awhile.
Lots of ways to play it. If you already have bullion, great. I'd be reluctant to buy bullion now though. Sovereigns are cool. There's a gold ETF, and several gold mining stocks that should benefit from an increase in gold prices.
|
| |
Replies: 16 / Views: 2,052 |
Posted 09/18/2007 12:53 am
