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 Replies: 33 / Views: 2,666 |
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Valued Member
United States
94 Posts |
Don't look now, but gold is within $10 of hitting $700!
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Pillar of the Community
United States
2365 Posts |
It will probably begin a sell off soon as the market is getting ready to close...my "bet" is still $700 tomorrow either opening or sometime during the day. Iran will keep this going! That's my ESP working again! Silver will increase also, but the Silver market is somewhat slower to react I believe. We'll see!
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Pillar Of The Community
3147 Posts |
The fever is spreading!!! The question will be how far and how long?
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Pillar Of The Community
3147 Posts |
Gold has hit $700.50 and silver at $14.50. Won't have to wait until tomorrow!!!
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Pillar of the Community
United States
1247 Posts |
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Pillar of the Community
Belgium
2078 Posts |
quote:
Originally posted by crystalk64
The fever is spreading!!! The question will be how far and how long?
If this is a generational bull like several say then after 20 years of bear we expect 15 to 20 years up starting counting in 1999 The most timid say 2010-2012 as a peak As to how high ; in order to match the 1980 high in constant dollar terms gold has to reach 2200-2250$ just only to match the 1980 price I think it may be safe to assume the price of then will be double by 2010 or later  |
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Pillar of the Community
Belgium
2078 Posts |
For the savvy attached an inflation compensated goldchart  |
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Pillar of the Community
United States
2365 Posts |
The metals market is really getting spooky! This is basically an uncharted area. Could some of this be to Congress increasing the allowance for the US World debt to $10 TRILLION yesterday? Sounds like a Third World Country borrowing more than it could EVER pay back! What is going on here? Looks like the US dollar is going more kaputz every day. Anyone out there investing in the Euro? Thoughts?
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Pillar of the Community
United States
1327 Posts |
well it hit 702.00 at 11:12 est let see if it will close above 700 today
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Pillar of the Community
United States
2365 Posts |
djluster...you must be refreshing Kitco too this morning. The chart looks like a ping pong ball. That is definitely one nervous market! Too high - too fast! I want to visit my local coin dealer friend this morning, but I'm afraid that the line will be out the door!
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Pillar Of The Community
3147 Posts |
You had just as well brace yourself as this ride is NOT over.
Dsking, I have been collecting euro coinage since it was introduced in 2002. Very quickly moved from business strike coins to the silver commemorative. Very glad I did, at least for the time being, as I have asked myself repeatedly why I ever started with the foreign coins. If nothing else it opened my eyes to a ton of history, beauty and in many instances very low mintages. Also took me to other world coins and I have had NOTHING but fun ever since!
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Pillar of the Community
United States
2365 Posts |
Thanks crystalk64! I was hoping that you would get in on this. You always have interesting and intelligent comments and suggestion/ideas. I'll start looking into the Euros. I too am enjoying what Foreign coins I have. As soon as I can figure out how to scan them so that they look like a coin and not a blob I will post a few of them. I have a couple of Chinese coins that I'm trying to figure out right now and so far so good. There is also a coin/token that looks Arabic that I'm really anxious to post. Again, I so enjoy your postings!
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Pillar of the Community
United States
1247 Posts |
quote:
Originally posted by dsking
The metals market is really getting spooky! This is basically an uncharted area. Could some of this be to Congress increasing the allowance for the US World debt to $10 TRILLION yesterday? Sounds like a Third World Country borrowing more than it could EVER pay back! What is going on here? Looks like the US dollar is going more kaputz every day. Anyone out there investing in the Euro? Thoughts?
What's going on is that the United States is a declining empire. Empires bring and maintain order on the world. Before we did it England did it and things were quite orderly and tidy for capital markets. Especially when Queen Vicky was running the show. People may not like empires or even the word empire but the fact is, empires are better than dark ages. Ten trillion? That's chump change. The total debt of America, the national debt, states debts, local debts and personal debt is 51-60 Trillion depending on whose figures you want to believe. *When* the United States goes down in sea of debt who will keep things nice and tidy and safe for capitalism and global markets? Yeah, yeah, I know, "we're special and so it won't happen to us." It will happen. Five minus 10 equals negative five no matter how many frogs they lick at the Ferengi Reserve. When you see Barbarians lurking in Starbucks that could be major buy signal for gold.  Edited by longnine009
05/10/2006 8:06 pm
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Valued Member
United States
123 Posts |
Metals always seem to go up when something is going wrong, and the U.S. and its massive debt load could certainly be causing it. I just wonder when the precious metals bubble will burst, and I wonder what the final result will be. That, I cannot predict.
These ridiculous gold prices have me wondering if there are some gold coins I could bear to part with; at $700/oz, there are a lot of neat things I could buy with the money. I've been eyeing a medieval fiddle lately (time to branch out and try another instrument besides the viola), and an ounce of gold would just about buy one. I'd get a lot more use out of it too.
I think my days of buying metals are over until things settle down; I don't like to play with markets that are going crazy.
Heather
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Valued Member
United States
58 Posts |
Y'all sound pretty optimistic (except for longnine [:p]). I've been kinda figuring as soon as it gets profitable to begin mining operations again it will dampen things quite a bit. Seein' as how it's so expensive to pry those last few flakes out of the earth with acid and all. Silver and platinum though now, well, they have some real industrial uses. Gold, not so much. It is purty though ain't it?
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Pillar Of The Community
3147 Posts |
Believe me when I say all the mines are now MINING at full force just as all the little oil wells scattered all over the U.S.! The sad part of all of this is the little guy and the average collector is now being squeezed out of his love of the hobby. Big money and the rich man is about to take over! Darn the luck!
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Replies: 33 / Views: 2,666 |
Posted 05/09/2006 7:29 pm
