Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
Member Login

Posted: 11/3/2009 7:53:02 AM EST
which translates to a big FUCK YOU to the u.s. dollar.

Link Posted: 11/3/2009 8:23:40 AM EST
You will no doubt be reminded by Sherrick and others, that Gold price are also rising relative to other currencies.

Apparently, all the major economic powers are in a race to devalue their currency.

Currently, we are leading the pack.
Link Posted: 11/3/2009 8:25:10 AM EST
[Last Edit: 11/3/2009 8:43:38 AM EST by sc_beerbarge]
I prefer silver.

Link Posted: 11/3/2009 8:38:02 AM EST
think it might have spike because India just bought 200 tons of IMF's gold.
Link Posted: 11/3/2009 8:49:43 AM EST
Originally Posted By gomulego:
think it might have spike because India just bought 200 tons of IMF's gold.


WHY is india buying 200 tons of gold.... now?

are they really that stupid - when this is CLEARLY just one big bubble?
Link Posted: 11/3/2009 8:51:51 AM EST
Originally Posted By 30calslut:
which translates to a big FUCK YOU to the u.s. dollar.



the dollar dying is the reason for the gold skyrocketing
Link Posted: 11/3/2009 8:52:28 AM EST
Originally Posted By sc_beerbarge:
I prefer silver.



Silver is still lagging.

At it's historical 50:1 ratio to gold, silver should be over $21.50 an ounce - it's at 17 and change right now
Link Posted: 11/3/2009 8:53:08 AM EST
Originally Posted By RRA_223:
Originally Posted By gomulego:
think it might have spike because India just bought 200 tons of IMF's gold.


WHY is india buying 200 tons of gold.... now?

are they really that stupid - when this is CLEARLY just one big bubble?


What else do they invest in?

....the dollar?
Link Posted: 11/3/2009 8:56:03 AM EST
Seeing an increase in small mining activities (mom and pop type size) pretty common when were circleing the drain and gold goes up.
Link Posted: 11/3/2009 8:58:54 AM EST
If it translates to a big FU to the US Dollar, how come the dollar index is up today? I also don't see any big spikes in the yen against the dollar. In fact, the Euro is diving against the dollar, yet oil is up, 10year down (in price, up in yield), etc.

Those are lots of divergences. I guess the point I'm trying to make is that you can't just equate gold up = dollar down. Something isn't right and I have a feeling that before the day is over we are going to see something swing back the other way.

Also, the dollar has actually rallied up for the last month.
Link Posted: 11/3/2009 8:59:34 AM EST
Kinda kicking myself for not grabbing more PMs last year.
Link Posted: 11/3/2009 9:01:45 AM EST
Originally Posted By LvFreeRDie:
If it translates to a big FU to the US Dollar, how come the dollar index is up today? I also don't see any big spikes in the yen against the dollar. In fact, the Euro is diving against the dollar, yet oil is up, 10year down (in price, up in yield), etc.

Those are lots of divergences. I guess the point I'm trying to make is that you can't just equate gold up = dollar down. Something isn't right and I have a feeling that before the day is over we are going to see something swing back the other way.

Also, the dollar has actually rallied up for the last month.


let's see what the fed says tomorrow afternoon.

Link Posted: 11/3/2009 9:02:07 AM EST
Oct 08 silver was ~$10/oz

The ship sailed that way ––––––––––––––––––––––––––––––––––>
Link Posted: 11/3/2009 9:04:19 AM EST
Originally Posted By RRA_223:
Originally Posted By gomulego:
think it might have spike because India just bought 200 tons of IMF's gold.


WHY is india buying 200 tons of gold.... now?

are they really that stupid - when this is CLEARLY just one big bubble?


They are buying it because the dollar is compromised and will super-inflate in the next few years. Every time fiat currency takes a giant shit on us, the bankers go back to gold for a while. China is also buying tremendous amounts of it.

Link Posted: 11/3/2009 9:15:33 AM EST
[Last Edit: 11/3/2009 9:15:54 AM EST by Q3131A]

Originally Posted By sc_beerbarge:
I prefer silver.



Link Posted: 11/3/2009 9:35:25 AM EST
Move along nothing to see here all is well...


GR
Link Posted: 11/3/2009 9:58:39 AM EST
Originally Posted By SIPCAT-C:
Originally Posted By sc_beerbarge:
I prefer silver.



Silver is still lagging.

At it's historical 50:1 ratio to gold, silver should be over $21.50 an ounce - it's at 17 and change right now


Maybe it's gold that's overvalued to silver....
Link Posted: 11/3/2009 10:01:43 AM EST
I bought a few 1 ounce silver bullion coins (Austrian Vienna Philharmonics) at around $12/oz. last year.
Link Posted: 11/3/2009 10:09:09 AM EST
[Last Edit: 11/3/2009 10:09:46 AM EST by warlord]
Uh, you're a bit behind, gold hit $1089.10/oz.
Link Posted: 11/3/2009 10:11:48 AM EST
thx for the update
Link Posted: 11/3/2009 10:33:28 AM EST
Link Posted: 11/3/2009 10:38:53 AM EST
Here is my prediction:

The Global Stock Markets are about to tank, and I'm not talking a couple thousand points either for the Dow/S&P. The Dow will be around 3000 or less, by this time next year. S&P will be around 300.

This means the U.S. Dollar will skyrocket. Commodities like crude oil, gold and other P.M.'s will get crushed. Gold will be at $200/ounce and Silver at $4/ounce by then. Crude will be sub-$20/bbl.

All assets will crash. Then Hyperinflation will start ramping up within another year, and Zimbabwe here we come.

Start buying gold/silver, land, etc on the cheap then.

Link Posted: 11/3/2009 10:39:57 AM EST

Originally Posted By Mister44:
http://mister44.com/projects/humor/gold.jpg

Good market to scalp right now. Especially silver.

PAAS has been fairly predictable. Now if I can just continue to make 10% on my trades every 5 days.
Link Posted: 11/3/2009 11:40:20 AM EST
Strange, the mainstream news media is not reporting the record rise in gold. There is nothing on CNN, LAT, NYT, etc what gives?
Link Posted: 11/3/2009 12:02:32 PM EST

Originally Posted By warlord:
Strange, the mainstream news media is not reporting the record rise in gold. There is nothing on CNN, LAT, NYT, etc what gives?


I don't watch the news. Is it still the Obama show 24/7?
Link Posted: 11/3/2009 4:34:07 PM EST
Originally Posted By gomulego:
think it might have spike because India just bought 200 tons of IMF's gold.


India buys 200 tonnes


Gold prices on Tuesday surged to an all-time high after India’s central bank bought 200 tonnes of the precious metal, swapping dollars for bullion as the country’s finance minister warned the economies of the US and Europe had “collapsed”. [more]
Link Posted: 11/3/2009 5:03:39 PM EST
Doesn't India historically use a lot of gold in the spring months every year due to the lavish weddings and dowries that the brides receive and the Dhanteras and Diwali?
Link Posted: 11/3/2009 5:39:08 PM EST
Originally Posted By Archtaan:
Doesn't India historically use a lot of gold in the spring months every year due to the lavish weddings and dowries that the brides receive and the Dhanteras and Diwali?


Somewhat, more so that their phone lines to all the call centers are paved in gold, I hear tell...
Top Top