1700 Gold

[Dogman]

For the record

http://www.kitconet.com/images/sp_en_6.gif


;D

Edited to add chart, the kitco one is live and will change.


http://www.kitco.com/images/live/gold.gif

Not sure if this one will or not change.

[Ares]

Wonder if this is it? Not sure what else they can do.. Investors are losing confidence, and that's bad for a system that relies on confidence.

[Dogman]

Wonder if this is it? Not sure what else they can do.. Investors are losing confidence, and that's bad for a system that relies on confidence. Dam good question!

I think no one living has been in quite this situation before. Unless it was in the 1929 crash and burn and those people are dieing off quick now.

I think it is going to be a wild and hard ride, time will tell on how bad, because no good is going to come out of this.

[solid]

We did it folks! Great job guys!

[slvrbugjim]

not sure if it is a good day or a bad day. For some of us it is good but have you been to the grocery store lately?

[Nomoss]

Is $2000 next?
This is NOT a good day.. think about it.
Yes I like gold at 1700 as I got most of what I have at $500
But we need to see what is going on and it not good.

[Dogman]

Is $2000 next?
This is NOT a good day.. think about it.
Yes I like gold at 1700 as I got most of what I have at $500
But we need to see what is going on and it not good.

Agree that is why I posted my TEOTWAWKI thread. This is not good.

[Golden]

I smell opportunity.

[Olmstein]

Wonder if this is it? Not sure what else they can do.. Investors are losing confidence, and that's bad for a system that relies on confidence.

Funny you used the word "confidence". (http://en.wikipedia.org/wiki/Confidence_trick)


confidence trick is an attempt to defraud a person or group by gaining their confidence. A confidence artist is an individual working alone or in concert with others who exploits characteristics of the human psyche such as greed, both dishonesty and honesty, vanity, compassion, credulity, irresponsibility, naïveté, and the thought of trying to get something of value for nothing or for something far less valuable.

[beefsteak]

Those short of physical metals, gold in particular, are having a religious experience tonight, as Sinclair would call it. Couldn't happen to a nicer bunch of bankers/hedgies!

[StreetsOfGold]

From Zerohedge

[Hatha Sunahara]

In that James Turk interview, Sinclair says $1764 gold is the point of transparency where it is obvious that the emperor has no clothes, It is where people understand the depth and the duration of our problems. This is where national and global psychology changes. This is where POG goes exponential.

Hatha

[JJ.G0ldD0t]

From Zerohedge


LOL that was great.

The only one missing was

"Theres NO going BACK NOW!!!!!"

[osoab]

http://www.tinygif.com/data/media/1/huge-dancing-banana.gif

[Shami-Amourae]

I was at a family meetup yesterday and for the first time two of my uncles were asking me about Gold/Silver. All of them have been sheep, until now. The thing I was hearing most, "I want an investment that actually goes up." They were disgusted with Wall Street and even brought up how evil they thought the Federal Reserve was. I was shocked and exited. I guess my ramblings finally paid off.

I also did hear my uncles worry that if it was too late to get into Gold/Silver since the prices were still high. I asked them if they knew anyone besides myself who was buying. They couldn't recall anyone else. I then asked how many people they knew were buying .com stocks back when those were the rage. "Oh everyone including myself did that..." So I then pointed out how the media pumped the .com stocks/bubble, but comes out and calls Gold/Silver a bubble while no one actually owns it but very very few investors. "Wait you're right, Wall Street runs the media!"

I think that convinced them.
:)

[Shami-Amourae]

Chicken time!!!

http://www.youtube.com/watch?v=VXxQfXzLgX0

[mick silver]

it look like gold is about to past Platinum in price

[mick silver]

Gold price tops $1,700 as investors seek refuge

this minute
(AP:NEW YORK) The price of gold is streaking past $1,700 an ounce for the first time.

Investors, beset by worries about the U.S. debt downgrade, Europe's financial crisis and slowing global growth, are seeking safety in the metal.

Standard & Poor's on Friday cut the long-term credit rating for the U.S. by one notch to AA+ from AAA, deepening investor fears about a weakening U.S. economy. A debt crisis in Europe threatens to destabilize financial markets. Stocks are tumbling around the globe Monday.

Gold has shot up more than 3 percent, or $50 per ounce, in Monday morning trading. It has nearly doubled in price since the start of 2009.

Still, adjusted for inflation, an ounce of gold remains below its 1980 peak of $850, or $2,400 in today's dollars.



Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
View all of today's news » (http://news.ino.com/headlines/)

[Dogman]

http://goldprice.org/charts/gold_3d_b_o_USD.png?0.201442645186919

[mick silver]

how many times have we broke the record price for gold this year alone ?

[Dogman]

how many times have we broke the record price for gold this year alone ? Too early in the morning and not enough caffine. ...Yet.

Maybe some one out there more awake.. When did it break the old record? A week or so ago, thinking!----------Ouch!-- that hurt!

[mick silver]

the beat down for gold has started

[gunDriller]

I smell opportunity.

you can still buy gold for $1200 an ounce - just buy 30 ounces of silver for $1200, and wait for the GSR to reach 30:1.

in some sense, you can still buy gold for $500 to $800 an ounce - by buying miners, i.e. the equities.

i wonder what price of gold will make ore yields of 1 to 5 grams per ton worthwhile.


DANG ! the Gold-Oil Ratio just hit 20.

$1700/ $85. WOOF !

[Dogman]

you can still buy gold for $1200 an ounce - just buy 30 ounces of silver for $1200, and wait for the GSR to reach 30:1.

in some sense, you can still buy gold for $500 to $800 an ounce - by buying miners, i.e. the equities.

i wonder what price of gold will make ore yields of 1 to 5 grams per ton worthwhile.


DANG ! the Gold-Oil Ratio just hit 20.

$1700/ $85. WOOF !

That ratio make one want to howl at the moon.