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Gold now at $1,910 an Oz.

Discussion in 'Off Topic Threads' started by TOOLMAKER 251, Aug 22, 2011.

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  1. TOOLMAKER 251

    TOOLMAKER 251 Active Member

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    I just noticed gold right now is over $1,900 an Oz. and at this years rate of rise it should be around $2,200 by years end. But if QE-3 takes place it might reach 3 G's an Oz.
     
  2. Tron

    Tron Supporting Vendor Supporting Vendor

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    Once it's at 2k, it will hit 5k in no time. The worlds banks were counting on the US dollar (which is backed by faith, not gold since 1971, thank Nixon administration for doing away with the Gold Standard) as their pillar of security, but now they want something more tangible.

    You aint seen nuttin' yet.
     
  3. John Galt

    John Galt TS Member

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    I think I'll buy a few pounds
     
  4. Nutso

    Nutso Member

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    Gold is like the housing market...its going to crash eventually, and its going to take down a bunch of folks with it. Get in late = Get burned.

    Anything that goes up like a rocket, comes down like a rocket. I lot of fire works on rentry, and thud, or splash and sink.
     
  5. Stl Flyn

    Stl Flyn Well-Known Member

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    Gas prices are the exception.
     
  6. Nutso

    Nutso Member

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    more than few have gotten burned on oil speculation.
     
  7. Setterman

    Setterman Well-Known Member

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    I'll let you know when I decide to buy, cause it will drop like a rock the day after I do.
     
  8. Sam Ogle

    Sam Ogle Member

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    I bought my wife a $50 gold piece a few years ago for a necklace which she rarely wears ("too heavy.")
    If she knew what it was worth today, she would probably hock it for clothes.

    Investing in gold is extremely risky. Nutso is absolutely right. One day, it will fall like a rocket out of fuel.

    Sam Ogle, Lincoln, NE
     
  9. cubancigar2000

    cubancigar2000 Well-Known Member

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    Just another sure sign of how bad off this economy really is. Speculatiors buy to make a profit & they are doing so because they know the dollar is worthless & getting worse each day. The Obama admin says we are not in recession??? A depression is next, they only worry about votes while hiding the truth. Buying gold is a dangerous business for one who knows nothing about it, be careful out there.
     
  10. shot410ga

    shot410ga Well-Known Member

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    What a balloon. Lots of suckers are going to be taken to the cleaners.
     
  11. Mike

    Mike Member

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    Buy low, sell high. Right now it's high. Mik
     
  12. skeeljc

    skeeljc Supporting Vendor Supporting Vendor

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    How about buy high and sell higher?

    Jim Skeel
     
  13. Catpower

    Catpower Molon Labe TS Supporters

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    Does anybody remember in the late 70's the price of precious metals when the Hunt brothers said they had enough money to manipulate the market??

    Gold was close to $1,000 per oz on the spot market

    It will do the same thing again

    I just wish i had all the gold I brought back from Thailand, but the ex ripped it off
     
  14. shannon391

    shannon391 Active Member

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    If the 2k mark is crossed we could see a parabolic move to 5k+
     
  15. John Galt

    John Galt TS Member

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    We could see 5k OR the speculative bubble could burst and then we'd see $300. In any case, this probably isn't the best place to get investment advice.
     
  16. sliverbulletexpress

    sliverbulletexpress TS Member

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    Nixon did take us off the gold standard, he had to because we had started printing more money than we could back and the world caught on. With the rest of the world threatening to trade their dollars for gold he just outmaneuvered them by taking us off the gold standard. It's worth noting the reason we were printing so much money was to pay for the escalation of our involvement in Viet Nam thanks to LBJ.

    Going off the gold standard is what gave the Fed so much(unlimited really)power now. Soooo our economic problems go way back with plenty of blame for both parties.
     
  17. TOOLMAKER 251

    TOOLMAKER 251 Active Member

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    Gold has dropped $125 per Oz. in the last 48 hours. As of now it's $1,785
     
  18. Big Heap

    Big Heap TS Member

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    Seasoned commodity traders move between gold and other traded units such copper, silver, corn, wheat etc.

    Gold looks like a good long term INVESTMENT but amateur traders will get eaten alive.

    Buy gold and put it away for your "Golden Years".
     
  19. twostraight

    twostraight Member

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    On the contrary, traders thrive on volatilty.
     
  20. skeeljc

    skeeljc Supporting Vendor Supporting Vendor

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    Look out below! Get ready to buy!

    Jim Skeel
     
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