Gold Hits Record High... RIGHT NOW!

[Shami-Amourae]

Gold currently is at $1,220.40

Previous record was set at $1218.25 on December 3rd, 2009.

How high will it go?

[TLM]

I could be wrong but I thought it was $1226 in Dec.
I think it pulled back to the closing number you are referring to.

In either case... we are right at an all-time high.

Strangley, this time, I feel more nervous than happy. :o

[Shami-Amourae]

Now that I re-look at it, I see conflicting news stories:

Supporting what I said:
http://online.wsj.com/article/BT-CO-20100511-707719.html?mod=WSJ_latestheadlines

Disproving what I said:
http://www.marketwatch.com/story/gold-taps-more-records-nears-1225-2009-12-02


Regardless, it could still go past the $1,226 mark anytime soon.

[TLM]

The first article is referring to 2010 highs in gold, the second was
Dec. 2009. referring to all-time highs

We are very close...

[1970 Silver Art]

I could be wrong but I thought it was $1226 in Dec.
I think it pulled back to the closing number you are referring to.

In either case... we are right at an all-time high.

Strangley, this time, I feel more nervous than happy. :o


$1226 is the all time high and I think that the Yellow Metal Barbarian will break through that today. I think that it is possible that it could break through $1230 today. We will see.

[greenbear]

What else do they have up their sleeves? The longer they hold it back the more awesome the unstoppable breakout will be. something never seen before in the history of the world. At least that is what I'm hoping for. :)

[TLM]

NO ARGUMENT NOW!!!!!!!!!!

$1235 ALL TIME HIGH!!!!!!!!!!!!!!!!!! ::) :o


:gwing

[JohnQPublic]

Doesn't matter folks. $1233 takes it!

Light your rockets, GSUSers, I think the S is HTF!

[Book]

Yippie!

Loaf of bread will soon cost $100

Yippie!

:oo-->

[JohnQPublic]

Yippie!

Loaf of bread will soon cost $100

Yippie!

:oo-->


Hopefully you'll have your 1/10th of a gram a day to buy a loaf of bread!

[StackerKen]

Yippie!

Loaf of bread will soon cost $100

Yippie!

:oo-->


My bread will still be cheap cause i gots lots of canned wheat i could grind if need be :)

Edit; but the cost of that seems to be creeping up....Get it while you can

http://www.ldscatalog.com/webapp/wcs/stores/servlet/CategoryDisplay?catalogId=10151&storeId=10151&categoryId=10002&langId=-1&cg1=14087&cg2=&cg3=&cg4=&cg5=

[Book]

Hopefully you'll have your 1/10th of a gram a day to buy a loaf of bread!



http://i.telegraph.co.uk/telegraph/multimedia/archive/00793/looters-wall-2-ap_793521c.jpg

This Gold glee won't last long when the full ramifications of this Hyper-Inflation appears.

:D

[1970 Silver Art]

Yippie!

Loaf of bread will soon cost $100

Yippie!

:oo-->


Hopefully you'll have your 1/10th of a gram a day to buy a loaf of bread!



or the a few oz's of silver. ;D

[TLM]

I've got some flour, yeast and a bread maker... and a dutch oven for
cooking over an open fire if neccessary.... no bread won't cost me $100.

[JohnQPublic]

Hopefully you'll have your 1/10th of a gram a day to buy a loaf of bread!



http://i.telegraph.co.uk/telegraph/multimedia/archive/00793/looters-wall-2-ap_793521c.jpg

This Gold glee won't last long when the full ramifications of this Hyper-Inflation appears.

:D




Most of us did not buy PMs for the glee. That is a tertiary benefit at best. Sort of like a good bowel movement or a ration of passed gas.

[JohnQPublic]

Yippie!

Loaf of bread will soon cost $100

Yippie!

:oo-->


Hopefully you'll have your 1/10th of a gram a day to buy a loaf of bread!



or the a few oz's of silver. ;D


I think maybe a gram or few grams of silver . Hopefully not a few ounces!

[1970 Silver Art]

I could be wrong but I thought it was $1226 in Dec.
I think it pulled back to the closing number you are referring to.

In either case... we are right at an all-time high.

Strangley, this time, I feel more nervous than happy. :o


$1226 is the all time high and I think that the Yellow Metal Barbarian will break through that today. I think that it is possible that it could break through $1230 today. We will see.



Yep. Gold did beak through $1230. $1231.40 it is. There does not seem to be any stopping gold and the DOG.....oops!!! I mean silver. ;D

[mamboni]

Gold hits all-time high as investors seek haven
By Javier Blas and Jack Farchy in London
Published: May 11 2010 20:07 | Last updated: May 11 2010 20:07

http://www.ft.com/cms/s/0/c43cc5fc-5d2b-11df-8373-00144feab49a.html

Gold prices hit an all-time high as demand surged to the highest level since the collapse of Lehman Brothers in 2008 amid volatile financial markets in Europe.
Spot gold in London surged to above $1,230 a troy ounce, surpassing the previous record set in December last year.


Gold prices in euro terms also hit a fresh all-time high of €969 an ounce in late trading in London on Tuesday, up almost 26 per cent since the beginning of the year.
Traders and coin dealers said buying was exceptionally strong from German and Swiss investors. In Frankfurt, gold sellers said that demand late last week was three to four times normal levels. The spike appears to reflect concerns in Germany about the potential inflationary impact of the European Central Bank’s decision to buy up eurozone government bonds in the wake of the Greek debt crisis.
Michael Kramer, president of Manfra, Tordella & Brookes, a large New York-based coin dealership, said: “The demand has been huge overseas. Most of it is ending up in Germany.” Edel Tully, precious metals strategist at UBS in London, added: “Coin demand is so intense that supply is struggling to match”.
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UBS, one of the largest bullion banks, said its gold sales desks in Geneva and Zurich had experienced the greatest demand for coins and small bars since 2008 last Thursday, when markets were shaken by contagion fears in the eurozone.The Austrian Mint has sold 108,000 ounces of Vienna Philharmonic coins in the past two weeks, more than the 89,100 ounces it sold during the first three months of the year.
Kerry Tattersall, marketing director at the Austrian Mint, which sells the popular Vienna Philharmonic bullion coin, said the mint was producing “as fast as we can”.
“It’s quite a spectacular increase in demand.” “We’ve put on a third production shift so we’re producing around the clock,” said Kerry Tattersall, the mint’s marketing director.
Jonathan Spall, a director of commodities at Barclays Capital in London, said gold was likely to hit a “fresh all-time high before the end of the week”. Outside the eurozone, dealers said that demand was also strong in North America.
Holdings in physically backed gold exchange traded funds are at record highs after some ETFs last week experienced their biggest inflows in over a year.
Global investors have been increasingly turning to gold since 2008. Gold traditionally performs well during times of financial distress or in times of US dollar weakness.
Global investors, led by the US, last year bought a record 228.5 tonnes of gold in the form of bullion coins, up from 77.4 tonnes in 2000, according to GFMS, the London-based precious metals consultancy.
Additional reporting by James Wilson in Frankfurt

[jedemdasseine]

Kitco servers are overloaded right now. Pt and pd are fine, but the charts for spot gold and silver are wonky.

1232 now.

1245 is an important threshold to cross.

What do highs in gold REALLY mean?
Time to get more preps!

[undgrd]

1240 as of right now...looks like it may have touched 1245 early this morning

[1970 Silver Art]

HOLY COW!!!!!!!

We might see $1300.00 before the end of the week since gold is on the run.

[Chibioz]

It's madness...Hard to believe!! 1245 high! :o

[Plastic]

It's madness...Hard to believe!! 1245 high! :o




Just goes to show the paper used to purchase it is in reality only good for wiping.

[Trinity]

Michael Crook, vice president and strategist at Barclays Wealth, believes that prices will fall to $800 once the crisis premium comes out of the market, and investors buy equities rather than gold.

http://finance.yahoo.com/news/How-to-Buy-RecordHigh-tsmf-2244973661.html?x=0&sec=topStories&pos=1&asset=&ccode=

[MNeagle]

Michael Crook, vice president and strategist at Barclays Wealth, believes that prices will fall to $800 once the crisis premium comes out of the market, and investors buy equities rather than gold.

http://finance.yahoo.com/news/How-to-Buy-RecordHigh-tsmf-2244973661.html?x=0&sec=topStories&pos=1&asset=&ccode=


Thanks for the morning laugh! What a joke.

[gunDriller]

Michael Crook, vice president and strategist at Barclays Wealth, believes that prices will fall to $800 once the crisis premium comes out of the market, and investors buy equities rather than gold.


maybe he's referring to the New Dollar.

after they take off a zero, and $8000 Old Dollars = $800 New Dollars.

[Neuro]

Michael Crook, vice president and strategist at Barclays Wealth, believes that prices will fall to $800 once the crisis premium comes out of the market, and investors buy equities rather than gold.


maybe he's referring to the New Dollar.

after they take off a zero, and $8000 Old Dollars = $800 New Dollars.

No, I think he just tried to shake out some physical gold from children and weak hands...

[greenbear]

Trinity is an interesting choice of a name, considering GLP.