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InvisibletrendalM
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Gold hits record $900 an ounce
    #7863901 - 01/11/08 09:43 AM (10 years, 15 days 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.
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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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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 (10 years, 15 days 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 (10 years, 15 days ago)

What do you do there?


--------------------
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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 (10 years, 15 days 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 (10 years, 15 days 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 (10 years, 15 days 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 (10 years, 15 days 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 (10 years, 15 days 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.


--------------------
The story book's been read
And every line believed
Curriculum's been set
Logic is a threat
Reason searched and seized


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 (10 years, 15 days 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 (10 years, 15 days ago)

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


--------------------
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Logic is a threat
Reason searched and seized


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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 (10 years, 15 days 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 (10 years, 15 days 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.


--------------------
The story book's been read
And every line believed
Curriculum's been set
Logic is a threat
Reason searched and seized


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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 (10 years, 15 days 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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"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 (10 years, 15 days 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 (10 years, 15 days 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 (10 years, 15 days 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 (10 years, 15 days 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 (10 years, 15 days 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 (10 years, 15 days 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 (10 years, 15 days 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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