Skip to comments.Gold breaks record as investors fear recession, currencies (Double-Dip?)
Posted on 06/08/2010 10:12:06 PM PDT by The Magical Mischief Tour
SAN FRANCISCO (MarketWatch) -- Gold futures advanced to a record Tuesday as investors sought out an alternative to currencies amid lingering fears of a worldwide slide into recession.
Gold for August delivery, the most active contract, rose $4.80, or 0.4%, to settle at $1,245.60 an ounce on the Comex division of the New York Mercantile Exchange, the highest price since gold futures started trading in the 1970s.
That supplanted the previous record of $1,243.10 reached May 12.
(Excerpt) Read more at marketwatch.com ...
Here's hoping Gold breaks a record on your birthday, whenever the heck that is.
Recession? Try Depression and possibly Weimar Germany.
it is not a double dip if it never recovered
I’ve been in Gold since 2003. I have argued my point many times against the real estate coneheads. It is strictly a hedge to ensure all is not lost. My holdings are up 400%. My much larger holdings took the same hit as everyone else.
It is not a make money fast scheme but it can hedge your losses with much less outlay.
Let me Qualify. My Gold holdings are up 400%. My much larger stock holdings are down probably 8%. Given the small balance it takes to keep it in check. I will ride this tide.
The generosity and sacrifice of the gold dealers is truly commendable, willing to accept 1,245.60 soon to be worthless dollars for one ounce of gold.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.