Gold?

[Big Cholla]

Anyone have a clue why gold jumped up $203/oz today? While I appreciate the increased value to the little gold I possess, I worry that this is an indication that the "In Crowd" knows something that is going to happen to our economy or our monetary system. Any words to the wise? Thanks, ............. Big Cholla

 

[mojave30cal]

Hey Big Cholla....Google "KITCO" and the front page will have
gold price charts and commentary. The US Dollar Index is up,
which means gold prices are down. Inverse reaction.

 

[Calaveras Slim]

Anyone have a clue why gold jumped up $203/oz today? While I appreciate the increased value to the little gold I possess, I worry that this is an indication that the "In Crowd" knows something that is going to happen to our economy or our monetary system. Any words to the wise? Thanks, ............. Big Cholla

Hey Cholla, please don't scare me. Today Gold spot is up only $4.00, $1201.00

Maybe you misread the decimal?

 

[Ben_hutcherson]

Not sure what caused the huge spike today, but the closing price was a more "normal" $1201

By the way, for those wondering, here's the graph of today's prices

 

[Big Cholla]

Well, I will go back and read it again. I watch a competitor to Kitco and have noted that they do not manage the daily closing very well. Probably a mis-post by someone there that was corrected minutes after I looked at it. Thanks, .............. Big Cholla

 

[Ben_hutcherson]

Actually, I'm not sure if the chart I posted above is accurate...Kitco is showing a high of 1202.93 today. Perhaps it's a fluke in the widget I'm using.

 

[Big Cholla]

Sorry to have given anyone a heart attack. I went back and they have corrected the post now. :-( ............. Big Cholla

 

[Big Cholla]

OK, found out what happened; when the employee posted the day's closing on gold their figure was an increase of $2.03. He/she posted $203! Darn those pesky decimal points! I saw the posting and went on my merry way yelling, "The sky is falling, the sky is falling." They corrected the mis-post within minutes. Bummer, I already had a RM picked out and was ready to place a bid. ...... Big Cholla

 

[chief38]

The new standard for bullets is solid gold.

 

[kaaskop49]

Well over a year ago, the price dropped from some $1800/oz. What did this signify in the scheme of things?

Kaaskop49
Shield #5103

 

[ChattanoogaPhil]

Don't know about the blip, but if nothing else it's reminder to NEVER place a market order.

 

[H Richard]

All the adds on TV telling you to buy gold. I recall it over $3000 not too long ago, and everyone was telling you then to Buy, Buy. Glad I didn't, I sold what little I had. Most risky investment you can make.

 

[ChattanoogaPhil]

There's an endless list of risky places to put money, but I think the biggest risk with gold is it's unique ability of casting a spell upon some who own it.

I've seen otherwise intelligent thoughtful investors buy gold and turn into tin (gold) foil hat thinkers.... seeing conspiracy everywhere. Once cheerful folks with a bright outlook on things, transform into doom and gloomers looking forward to apocalypse as confirmation of success. Beware...

 

[R. G. Amos]

If you want to move money with no paper trail, gold (coins in particular) is a very good way to do so in reasonable quantities. If you are planning for the apocalypse, having a few gold coins on hand is a good idea. If you are trying to make money buying/selling gold, good luck.

 

[bushmaster1313]

If you have enough wealth to make diversification worthwhile, gold is one way to hedge against inflation.

It is also a good idea to hold onto a large wad of cash so that you can buy more gold when the bottom drops out of the precious metals market.