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InvisibletrendalM
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Gold hits record $900 an ounce
    #7863901 - 01/11/08 09:43 AM (6 years, 9 months ago)

Quote:

Gold hits record $900 an ounce

NEW YORK - Gold futures briefly rose above $900 an ounce Friday for the first time as high oil prices, a weak dollar and fears of a U.S. recession led uneasy investors to keep buying the precious metal.
ADVERTISEMENT

An ounce of gold for February delivery on the New York Mercantile Exchange jumped $6.50 to $900.10 in morning trading, an all-time high and a psychologically important milestone. Gold later slipped to $898.70 an ounce on profit-taking but remained in record territory.




http://news.yahoo.com/s/ap/20080111/ap_on_bi_ge/gold_at900_4

I take it Wiccan_Seeker is happy? :smirk:


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Driving you mad.


Edited by trendal (01/11/08 01:10 PM)


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InvisibleBIGSWANG
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Re: Gold ends higher after rallying to new record high [Re: trendal]
    #7863910 - 01/11/08 09:48 AM (6 years, 9 months ago)

i work at the nymex, gold is for chumps


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InvisibletrendalM
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Re: Gold ends higher after rallying to new record high [Re: BIGSWANG]
    #7863914 - 01/11/08 09:51 AM (6 years, 9 months ago)

What do you do there?


--------------------
You're here because you know something.
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InvisibleBIGSWANG
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Re: Gold ends higher after rallying to new record high [Re: trendal]
    #7863923 - 01/11/08 09:54 AM (6 years, 9 months ago)

i use to trade natural gas futures, until it went electronic

now im doing risk analysis for a derivatives software company


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InvisibletrendalM
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Re: Gold ends higher after rallying to new record high [Re: BIGSWANG]
    #7863933 - 01/11/08 09:58 AM (6 years, 9 months ago)

What's your outlook on silver?


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InvisibleBIGSWANG
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Re: Gold ends higher after rallying to new record high [Re: trendal]
    #7863940 - 01/11/08 10:02 AM (6 years, 9 months ago)

:shrug: i dont watch the metals too much

price is down so far on the day though


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InvisibleLayYouIn
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Re: Gold ends higher after rallying to new record high [Re: trendal]
    #7864238 - 01/11/08 12:11 PM (6 years, 9 months ago)

Quote:

trendal said:
I take it Wiccan_Seeker is happy? :smirk:




i should have listened. :nonono:

does anyone know if silver has raised at all?  also, about how fast do metals launch up in price?


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InvisibletrendalM
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Re: Gold ends higher after rallying to new record high [Re: LayYouIn]
    #7864257 - 01/11/08 12:15 PM (6 years, 9 months ago)

Silver has gone up $2 (about 14%?) since I got my hands in on it :wink:

It's still not a bad buy, about $16.16/ounce, right now.

Silver has only started its climb, but should fall into pace with gold.


--------------------
You're here because you know something.
What you know you can't explain,
But you feel it;
You've felt it your entire life.
That there's something wrong with the world.
You don't know what it is, but it's there....
Like a splinter in your mind...
Driving you mad.


Edited by trendal (01/11/08 12:16 PM)


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InvisibleLayYouIn
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Re: Gold ends higher after rallying to new record high [Re: trendal]
    #7864276 - 01/11/08 12:21 PM (6 years, 9 months ago)

so if i bought $1000 worth of silver, around how much do you think i could sell it for in a year?


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InvisibletrendalM
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Re: Gold ends higher after rallying to new record high [Re: LayYouIn]
    #7864343 - 01/11/08 12:37 PM (6 years, 9 months ago)

I don't know, you'll have to ask someone who's good with economics :smirk:


--------------------
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What you know you can't explain,
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You've felt it your entire life.
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You don't know what it is, but it's there....
Like a splinter in your mind...
Driving you mad.


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InvisibleBIGSWANG
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Re: Gold ends higher after rallying to new record high [Re: LayYouIn]
    #7864359 - 01/11/08 12:40 PM (6 years, 9 months ago)

chances are, it will be higher

how much higher? who knows.


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InvisibletrendalM
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Re: Gold ends higher after rallying to new record high [Re: BIGSWANG]
    #7864458 - 01/11/08 01:09 PM (6 years, 9 months ago)

Gold hits record $900 an ounce

NEW YORK - Gold futures briefly rose above $900 an ounce Friday for the first time as high oil prices, a weak dollar and fears of a U.S. recession led uneasy investors to keep buying the precious metal.
ADVERTISEMENT

An ounce of gold for February delivery on the New York Mercantile Exchange jumped $6.50 to $900.10 in morning trading, an all-time high and a psychologically important milestone. Gold later slipped to $898.70 an ounce on profit-taking but remained in record territory.


--------------------
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What you know you can't explain,
But you feel it;
You've felt it your entire life.
That there's something wrong with the world.
You don't know what it is, but it's there....
Like a splinter in your mind...
Driving you mad.


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InvisibleZippoZM
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Re: Gold ends higher after rallying to new record high [Re: trendal]
    #7864520 - 01/11/08 01:20 PM (6 years, 9 months ago)

3 years ago, weed was going for around 325 an ounce, as was gold. I used to joke, "what should i buy with my money, an ounce of weed, or an ounce of gold"

i regret my past choice.......
gold would have been a better option, and gotten me 3x as much weed in just a few short years.

Le sigh..


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"in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"

"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."


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OfflineAsanteA
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Re: Gold hits record $900 an ounce [Re: trendal]
    #7864816 - 01/11/08 02:29 PM (6 years, 9 months ago)














Umm yeah, I'm happy :grin:

It's gold futures though, I'll wait for the london fix to be set on $900 before going completely mental. That doesn't seem far away though.


The Cheuvreux gold report which I uploaded here when gold was at $600 predicted this 900. It came early.

Here's to $1.200 gold :thumbup:


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OfflineAsanteA
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Re: Gold ends higher after rallying to new record high [Re: LayYouIn]
    #7865341 - 01/11/08 04:34 PM (6 years, 9 months ago)

Quote:

so if i bought $1000 worth of silver, around how much do you think i could sell it for in a year?




No one can tell. Really. But chances are its going up.

Silver is more of a longterm deal, think about silver if you wouldn't mind holding onto it for 5-10 years or so. But then chances are its value in dollars has multiplied.

Many base metals have gone up 3-10x in price. Some think this will happen with silver too.

With gold I don't think that'll happen, not nearly by that much, but it will probably happen sooner.

There's a risk that something bad will happen to the dollar and euro in the coming years. If you are in those currencies and in metals, prices ofcourse will go through the roof.

Only get into gold and silver with money you can forget about for a couple of years.

You can approach Silver even as if it was a lottery ticket. Buy a 1oz bullion coin ($17) or better a 10oz bar of 999 silver for about $170 and forget about it. If silver does hit the jackpot you'll win hundreds of dollars. If you're the type who likes to play lotteries, try this plan. Your chance of winning is far better than any lottery ticket and silver will always be a precious metal, unlike a ticket that lost which is worthless.


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OfflineCoaster
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Re: Gold ends higher after rallying to new record high [Re: Asante]
    #7865350 - 01/11/08 04:36 PM (6 years, 9 months ago)

if only we listened to ron paul and went back on the gold standard our money wouldn't be less valuable than the canadian dollar


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InvisibleSheikCorp
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Re: Gold hits record $900 an ounce [Re: trendal]
    #7865495 - 01/11/08 05:15 PM (6 years, 9 months ago)

It's going to go back down


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Offlineg00ru
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Re: Gold hits record $900 an ounce [Re: SheikCorp]
    #7865547 - 01/11/08 05:27 PM (6 years, 9 months ago)

Quote:

SheikCorp said:
It's going to go back down




Eventually, duh. :smile:


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OfflineAsanteA
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Re: Gold hits record $900 an ounce [Re: SheikCorp]
    #7865619 - 01/11/08 05:50 PM (6 years, 9 months ago)

We've had weeks of nothing but up, ofcourse it will go down.

But.. inflation on currencies is a given, so over time the trend for commodities is to fetch ever more money.


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InvisibleBIGSWANG
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Re: Gold hits record $900 an ounce [Re: Asante]
    #7865844 - 01/11/08 06:40 PM (6 years, 9 months ago)

when i first started working at the nymex, crude futures were trading at 25.00

i wish i would have bought some F08 crude futures back then.:nonono:


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Offlinefapjack
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Re: Gold ends higher after rallying to new record high [Re: Coaster]
    #7865976 - 01/11/08 07:05 PM (6 years, 9 months ago)

There isn't enough gold on the planet to back up even 10% of our money.


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Re: Gold ends higher after rallying to new record high [Re: fapjack]
    #7865987 - 01/11/08 07:07 PM (6 years, 9 months ago)

ya its so rediculous
a nickel used to buy me a movie ticket, a ride on the trolley, a pumpkin pie, and a bottle of wiskey


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InvisibleLayYouIn
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Re: Gold hits record $900 an ounce [Re: Asante]
    #7869146 - 01/12/08 03:50 PM (6 years, 9 months ago)

does silver look cool? what about silver coins, would those be the same thing?


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OfflineAsanteA
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Re: Gold hits record $900 an ounce [Re: LayYouIn]
    #7869299 - 01/12/08 04:40 PM (6 years, 9 months ago)

Quote:

does silver look cool?




Silver looks a lot like stainless steel, but brighter in color. Most mirrors have a silver surface, so that's the kind of metallic.

Silver doesn't have the "wow awesome"http://files.shroomery.org/files/07-12/442997171-silver_bar.jpg>


Quote:

what about silver coins, would those be the same thing?





Silver is silver :smile: There are however Bullion Coins, meant for silver investment. Here, I made a pic so you can compare the most popular ones:




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Re: Gold hits record $900 an ounce (moved)
    #7872696 - 01/13/08 11:17 AM (6 years, 9 months ago)

This thread was moved from The Pub.

Reason:
Gold threads - best in Money Matters


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OfflineAsanteA
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Re: Gold hits record $900 an ounce (moved) [Re: Asante]
    #7878250 - 01/14/08 02:58 PM (6 years, 9 months ago)

Gold jumped to $914/oz with a London Fix of $911.50

Remember gang, we've been on and on about it since gold was $600


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OfflineThe_Red_Crayon
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Re: Gold hits record $900 an ounce [Re: BIGSWANG]
    #7878751 - 01/14/08 05:17 PM (6 years, 9 months ago)

Quote:

BIGSWANG said:
when i first started working at the nymex, crude futures were trading at 25.00

i wish i would have bought some F08 crude futures back then.:nonono:




You'd more then likely be a millionaire if you did, its not too late. Theres still big money to be had in commodities futures.


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