gold hits a record ... near month contract now at $1,083 / oz.

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[ARCHIVED THREAD] - gold hits a record ... near month contract now at $1,083 / oz.

Posted: 11/3/2009 8:53:02 AM EDT

which translates to a big FUCK YOU to the u.s. dollar.

Posted: 11/3/2009 9:23:40 AM EDT

[#1]

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.

Posted: 11/3/2009 9:25:10 AM EDT

[#2]

I prefer silver.

Posted: 11/3/2009 9:38:02 AM EDT

[#3]

think it might have spike because India just bought 200 tons of IMF's gold.

Posted: 11/3/2009 9:49:43 AM EDT

[#4]

Quoted:
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?

Posted: 11/3/2009 9:51:51 AM EDT

[#5]

Quoted:
which translates to a big FUCK YOU to the u.s. dollar.

the dollar dying is the reason for the gold skyrocketing

Posted: 11/3/2009 9:52:28 AM EDT

[#6]

Quoted:
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

Posted: 11/3/2009 9:53:08 AM EDT

[#7]

Quoted:

Quoted:
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?

Posted: 11/3/2009 9:56:03 AM EDT

[#8]

Seeing an increase in small mining activities (mom and pop type size) pretty common when were circleing the drain and gold goes up.

Posted: 11/3/2009 9:58:54 AM EDT

[#9]

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.

Posted: 11/3/2009 9:59:34 AM EDT

[#10]

Kinda kicking myself for not grabbing more PMs last year.

Posted: 11/3/2009 10:01:45 AM EDT

[#11]

Quoted:
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.

Posted: 11/3/2009 10:02:07 AM EDT

[#12]

Oct 08 silver was ~$10/oz

The ship sailed that way ––––––––––––––––––––––––––––––––––>

Posted: 11/3/2009 10:04:19 AM EDT

[#13]

Quoted:

Quoted:
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.

Posted: 11/3/2009 10:15:33 AM EDT

[#14]

Quoted:

I prefer silver.

Posted: 11/3/2009 10:35:25 AM EDT

[#15]

Move along nothing to see here all is well...

GR

Posted: 11/3/2009 10:58:39 AM EDT

[#16]

Quoted:

Quoted:
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....

Posted: 11/3/2009 11:01:43 AM EDT

[#17]

I bought a few 1 ounce silver bullion coins (Austrian Vienna Philharmonics) at around $12/oz. last year.

Posted: 11/3/2009 11:09:09 AM EDT

[#18]

Uh, you're a bit behind, gold hit $1089.10/oz.

Posted: 11/3/2009 11:11:48 AM EDT

[#19]

thx for the update

Posted: 11/3/2009 11:33:28 AM EDT

[#20]

Posted: 11/3/2009 11:38:53 AM EDT

[#21]

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.

Posted: 11/3/2009 11:39:57 AM EDT

[#22]

Quoted:

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.

Posted: 11/3/2009 12:40:20 PM EDT

[#23]

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

Posted: 11/3/2009 1:02:32 PM EDT

[#24]

Quoted:

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?

Posted: 11/3/2009 5:34:07 PM EDT

[#25]

Quoted:
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]

Posted: 11/3/2009 6:03:39 PM EDT

[#26]

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?

Posted: 11/3/2009 6:39:08 PM EDT

[#27]

Quoted:
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...

[ARCHIVED THREAD] - gold hits a record ... near month contract now at $1,083 / oz.

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