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| Gold Surges to $1100 | |
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| Tweet Topic Started: 6 Nov 2009, 05:00 PM (158 Views) | |
| Ryan | 6 Nov 2009, 05:00 PM Post #1 |
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Intellectual
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It's gone up $40 in the last 2 1/2 days alone, and is poised to overtake the $1,100 mark any day now. Here's one of the main driving forces for the recent spike (amidst the secular upward trend):
http://articles.moneycentral.msn.com/Investing/top-stocks/blog.aspx?post=1351070&_blg=1,1351070
http://articles.moneycentral.msn.com/Investing/top-stocks/blog.aspx?post=1353055&_blg=1,1351070 The dollar is done, and all of the major countries aren't just "talking" anymore about dumping the dollar. I forecast that gold, the only real money left in the world, will surge to $2K by next June. Edited by Ryan, 6 Nov 2009, 05:01 PM.
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| Lundymaphone | 6 Nov 2009, 05:44 PM Post #2 |
Intellectual
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I would be surprised (although not shocked) if Gold could maintain a level of over $1200 next year. The danger is that when the economy does improve the dollar will improve and people will lose site of the long-term effects. This is just another "jump-the-gun" moment by central banks. It will probably take India/China decades before they are gold-primary holders, assuming they continue tp build up their gold reserves vs $$ reserves. I don't have numbers but intuition will make me look at how fast foreign holdings in Euros are climbing, I think diversification is far more likely then gold replacing US dollar. |
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| Maxwell Wilder | 7 Nov 2009, 03:26 AM Post #3 |
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Veteran
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Damn me for all those Goldschlager I wasted away! |
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| Ryan | 23 Nov 2009, 03:49 PM Post #4 |
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Intellectual
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Well, if only to reiterate my points, gold is now at $1,165 after a $19 gain today alone, to start off the week. |
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9:25 AM Jul 11