Holy crap. Gold jumped $13 today.

[garybeck]

It looks like gold is ready to break the $600/oz line. People "in the know" must be dumping their dollars, buying gold (and probably other currencies).

After all those late night "buy gold" ads on the radio, I bought a couple 1oz coins a few years ago when it was about $290/oz. Man, I wish I would have bought more back then!

[medeak]

1. woo hoo!!!!

build gold mines... yesssss!

[Midlodemocrat]

2. My husband collects gold coins.

Obviously for the investment potential, but also because he really likes the history behind them.

He has them locked up at the bank because he was saying that they were really getting valuable.

Maybe he's planning to buy me a beach house?

Doubtful. :rofl:

[TomInTib]

3. Holy crap is right.

I guess the reports about the US printing 2 trillion dollars of large bills are not so far off-base.

Wow

[Zynx]

4. This is the biggest increase I've ever seen in gold in a monetary

contractionary period. Inflation isn't that high and interest rates are rising, which should mean gold would act poorly since it tends to trade somewhat as a function of inflation and money supply growth rates. This is very puzzling. It must be related to all of the geopolitical risk and the decline in the dollar.

[Sammy Pepys]

13. The negative correlation between gold and interest rates...

...is somewhat of a myth. Look at the '70s for evidence of that.

[Zynx]

14. However, there was hyper inflation in the 1970s. There isn't now.

[medeak]

5. am reading over $19 increase today!

what will that due to our dollar hmmmm?


London gold closes at $585.10 US, up $19.80

2006-03-30 11:20:00

LONDON (AP) - Selected world gold prices Thursday in US dollars a troy ounce:

Hong Kong: $577.60 up $15.30

London: $585.10 up $19.80

Paris: $578.50 up $16.25

Zurich: $583.70 up $17.70

[acmejack]

6. Precious metals setting new highs Copper at a record;

snip>

AN FRANCISCO (MarketWatch) -- Copper futures set an all-time high on Thursday, while gold and silver prices closed at levels not seen since the early 1980s, as weakness in the U.S. dollar reignited the rally in commodities.

Gold's move "is a continuation of strong global demand aided by a glut of U.S. dollars in the world looking for a diversified asset class that is not deemed overvalued and provides the safety in an uncertain marketplace," said Peter Spina, an analyst at GoldSeek.com.

"Gold is clearly headed for $600, possibly even higher during the next several trading sessions," he said. "One should watch out for this market to quickly overheat, but more gains are likely first."

Gold for June delivery traded as high as $592.10 an ounce on the New York Mercantile Exchange before closing up $13.20, or 2.3%, at $591.80. It marked its highest close since January 1981.

The dollar weakened across the board, hitting an almost two-week low versus the euro, amid expectations that U.S. interest-rates will soon come more into line with rates overseas. See Currencies.

http://www.marketwatch.com/News/Story/Story.aspx?column=Metals+Stocks&siteid=google&dist=

[JuniperLea]

7. When money is no good

Gold goes bonkers... bad times ahead I fear...

[C_U_L8R]

8. There's a war in 30 days

[The Witch]

9. you sound like that commercial with Randi.

drives me nuts.

[garybeck]

10. it might be annoying but it's true :)

while the stock market has been flat, I doubled my money. I only wish I would have bought more of them!

[sendero]

11. What about silver?

I bought some gold and silver a couple years ago (and have been adding to the silver collection over the last year).

Silver is at $11.67. I'm way more ahead on my silver investment than gold....

[Monk06]

15. Silver

Checkout David Morgan at

http://www.silver-investor.com/

He's the industry expert on silver

[Warpy]

12. I inherited mine in the form of jewelry

I need to get that stuff reappraised. Holy moly!

[sandnsea]

16. I wish I'd had money

I told a few friends to invest in gold when Bush took office. I don't know if they did, I should ask for a consultant fee, lol. If anybody wants to invest based on gold plummeting, let me know. I'll buy some and guarantee it'll fall like spring rain. That's just the kind of luck I have.

[teryang]

17. I took bids on a new ac system and a new roof this week

The price increases were astronomical! The government inflation figures are seriously manipulated downward with all kinds of bullshit adjustments.

I've bought ac systems and rooves in the past. The increases are staggering. The increases in base metal prices are staggering. A US penny is now worth 1.54 according to one article I read.

The big mining companies gapped up tremendously last week. I'm hoping they'll fall because the increase looks parabolic. So I'm not convinced that we are not entering a hyperinflation.

I'm also back to getting two or three credit offerings a day in the mail after a brief respite. Emailed job listings from a paid service I use have dropped from two a day to two a week.

The floodgates are going to open. This is what the price of materials is telling us.

[Matariki]

18. good time to sell it, methinks.

[garybeck]

21. I don't think so

it's still going up up up and will continue for the forseeable future. as long as the dollar continues to fall, gold will go up.

[Matariki]

23. perhaps. yet it reminds me of the tech stock feeding frenzy a while back

just a hunch, but it feels like a sucker's game to me at this point. double so for silver. well that might be harsh - it obviously won't tank like tech stocks, but i'd bet on a return to around $550. i'm baseing this on nothing but intuition btw, so please ignore this post. or revisit it end of summer and we'll see who gets to say 'i told you so'.

[Matariki]

31. heh - you can say 'you told me so' now

well, i didn't buy gold but i did buy a 'bear fund' earlier in the year.

[garybeck]

32. it's still buy time. keep watching.

[Greyhound]

19. $30 over the weekend and $20 so far today.

And someone is recommending a sell?

[garybeck]

20. yup, unbelievable. n/t

[atfqn]

22. The only reason to sell now

is to get enough cash to go all-in on silver. Silver is where it is at, we use more of it and there is less of it available and after inflation/supply adjustments there have been calls for a price normalizations around $100 an oz. The other question that we must ask ourselves is "who are these people that can afford gold at 700-1000 an oz. and how does one get in touch with them?"

[Matariki]

24. $100 an once for silver? you're dreaming.

[Greyhound]

25. Hmm. I seem to recall something similar said about $500 gold. n/t

[Greyhound]

26. About $180 so far this year.

But don't worry, just keep waiting it'll come down to $300 soon... :eyes:

[Mojorabbit]

27. offf topic but your avatar

reminds me of the best dog I ever have had. She died of bone cancer years ago and I still miss her. She escaped from the track and showed up at my door and it was love at first sight.

[Greyhound]

28. That is so sad, I'm sorry. I have two, both track rescues and they

are my bliss. Osteosarcoma is, unfortunately, too common in the breed.

:sad:What was her name?

[Mojorabbit]

29. Her name was Roxanne Pup

and she was wonderful.

[garybeck]

30. today's close $721 /oz

wow