price of gold

[carol-ann]

have you seen the price of gold 1385 odds

[MikeD]

Makes my little gold eagle coins sound even better!!

[GlennO]

Gold sets record; other commodities chalk up gains


By SANDY SHORE, AP Business Writer – 2 hrs 8 mins ago

Gold set another record high and other commodities chalked up broad gains Thursday as the dollar weakened and investors sought protection against inflation.

Much of the action was triggered because the dollar grew weaker against other currencies, a day after the Federal Reserve said it would buy $600 billion of bonds by the middle of next year to try to boost economic growth.

Since commodities are priced in dollars, a weaker dollar also gives buyers who use foreign currencies an advantage.

The combination of the Fed's decision and the weaker dollar was perceived by traders as inflationary, Newedge metals analyst Mike Frawley said.
"With or without the Federal Reserve action, we're living in a world that is going through an expansionary and inflationary phase," he said.

Gold for December delivery settled at a record high of $1,383.10 an ounce, up $45.50, or 3.4 percent.

Many analysts expect the price to continue to climb, perhaps hitting $1,450 an ounce by year end. "Next year, who knows? If this continues like this we can march on higher," MF Global senior commodities analyst Edward Meir said.

In other metals contracts for December, silver jumped $1.607 to settle at $26.043 an ounce, copper gained 12.7 cents, or to settle at $3.9120 a pound and palladium rose $32.05 to $674.75 an ounce.

January platinum rose $58.70 to settle at $1,755.90 an ounce.
Energy prices benefited from the weaker dollar, too.

Benchmark crude for December delivery rose $1.80 to settle at $86.49 a barrel on the New York Mercantile Exchange.

In other December energy contracts on the Nymex, heating oil added 4.52 cents to settle at $2.3731 a gallon, gasoline gained 3.91 cents to $2.1771 per gallon while natural gas rose 2 cents to $3.856 per 1,000 cubic feet.

In grains and beans, December wheat rose 23.5 cents to settle $7.1375 a bushel, December corn added 9 cents to $5.90 a bushel and January soybeans gained 37.25 cents to $12.7475 a bushel.

[GlennO]

With the US dollar being the de-facto international reserve currency, and Fed Chief Ben Brenake testifying under oath to the direct question before congress last year "Will you monitize the US debt by printing more currency?" His answer was "No". The breach of his oath proves the US can not be trusted. International financial systems function upon trust and integrity.

We have critically damaged our credibility by today starting to print a currency run of six hundred billion dollars of new "funny money".

Did you know the total amount of existing US currency now in circulation amounts to eight hundred billion dollars? This has never been done in our history.

This is especially unsettling with the past history of currency speculator and globalist (the man that broke the bank of England) George Soros, saying it would be desirable for the US dollar to follow a managed decline in value.

[SonSeeker]

Gold for December delivery settled at a record high of $1,383.10 an ounce, up $45.50, or 3.4 percent.

What goes up must come down.

Commodity prices are cyclical in nature, and when they drop in price, it happens much more quickly than their prices increase.

There is no gold in my portfolio. Come to think of it, there's nothing at all in my portfolio.

[discusdog]

what portfolio?

[Carl]

From Weiss Research: Buried deep inside the healthcare reform bill is a law that could set the
stage for the federal government to take away ALL your gold. By 2012,
it probably won't be safe to own gold bars, rare coins or gold ETFs.

[LivnForChrist]

I'm not sure what the significance is but here in Michigan everywhere you look there are
people offering cash for Gold. They've got people standing on the sidewalk with Cash for Gold signs.
They have booths at the grocery store. They're taking advantage of people left and right during
these hard times. I don't have much gold but what I do have, I'm keeping.

[GlennO]

Just now, gold just broke through the $1,400 level to a historic high...

[Navyblue]

Ah, precious metal, or for that matter, 'precious' anything, purchased with something man-made, like paper money. Anything, 'precious,' will have an historic purchasing power that maintains a stability one can count on. That is why, as prices go up, an ounce of gold still buys the same item it did months/years ago, and the only thing that has changed is the number of 'paper-dollars' needed, to facilitate the same purchase an ounce of gold has always purchased.

It is not how much specific merchandise paper money purchases that matters, since one ounce of gold still normaly purchases about the same thing. Something is wrong with the system that requires more and more paper moneys to be printed to still purchase that one ounce of gold, which still purchases the same item.

Sickness in the economy is when that one ounce of gold no longer purchases the same object, and there is a requirement for something more than what one ounce of gold once purchased. Then there is a problem, and that problem must be addressed, to some type satisfaction, or Recession, or even Depression, sets into the overall Social program, and people lose the ability to purchase sustenance (minimal).

My point: Do not worry so much about how expensive gold is, worry about why the paper money value is continuing to rise, and attack that cause, not the paper money result (which is only an indicator of a real problem).

A truly healthy economy is one where the 'one ounce' of gold (or anything 'precious), actually purchases more than it used to. Then the world is financially healthy.

In Messiah, I count the days, not the money.

Arley

[Carl]

Just now, gold just broke through the $1,400 level to a historic high...

But what is the uninflated price of gold? Today's dollar is only worth about .3 year 2000 dollars. So at that rate todays gold would sell for $420 year 2000 dollars.

[carol-ann]

Just now, gold just broke through the $1,400 level to a historic high...

yep,and you know why dont you

[carol-ann]

Ah, precious metal, or for that matter, 'precious' anything, purchased with something man-made, like paper money. Anything, 'precious,' will have an historic purchasing power that maintains a stability one can count on. That is why, as prices go up, an ounce of gold still buys the same item it did months/years ago, and the only thing that has changed is the number of 'paper-dollars' needed, to facilitate the same purchase an ounce of gold has always purchased.

It is not how much specific merchandise paper money purchases that matters, since one ounce of gold still normaly purchases about the same thing. Something is wrong with the system that requires more and more paper moneys to be printed to still purchase that one ounce of gold, which still purchases the same item.

Sickness in the economy is when that one ounce of gold no longer purchases the same object, and there is a requirement for something more than what one ounce of gold once purchased. Then there is a problem, and that problem must be addressed, to some type satisfaction, or Recession, or even Depression, sets into the overall Social program, and people lose the ability to purchase sustenance (minimal).

My point: Do not worry so much about how expensive gold is, worry about why the paper money value is continuing to rise, and attack that cause, not the paper money result (which is only an indicator of a real problem).

A truly healthy economy is one where the 'one ounce' of gold (or anything 'precious), actually purchases more than it used to. Then the world is financially healthy.

In Messiah, I count the days, not the money.

Arley

from what i understand papermoney will be just that nothing more so thats why people are buying gold.they see the dollar weakening and think gold will save them or for that matter any precious metal.i thought that too but it says somewhere in the bible about gold.i know that when the dollar crashes we will need something to barter for but ive decided to trust jesus to give me what i need.he is the only one who will save us.

[GlennO]

The next milestone in what I expect to be another step toward a NWO global financial system should occur when POTUS lands in South Korea after he finishes his visit to his roots in Indonesia.