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The redecorated Oval Office of U.S. President Barack Obama has new carpeting, wallpaper and sofas at the White House in Washington, August 31, 2010. REUTERS/Jonathan Ernst (UNITED STATES)
Posted on 08/31/2010 2:02:22 PM PDT by NormsRevenge
Wary investors are buying gold and silver despite signs of improving home sales and consumer confidence in the U.S.
Gold for December delivery rose $11.10 to settle at $1,250.30 an ounce Tuesday, its highest level in about two months. Silver also settled higher.
A new report shows consumer confidence is improving but concerns about unemployment linger. Another report says home sales are better, but much of the improvement was traced to government tax credits.
The economic worries also are causing energy prices to retreat, while grains are mixed.
(Excerpt) Read more at news.yahoo.com ...
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The redecorated Oval Office of U.S. President Barack Obama has new carpeting, wallpaper and sofas at the White House in Washington, August 31, 2010. REUTERS/Jonathan Ernst (UNITED STATES)
I’ve been refreshing my screen on the site below and every time I do it the price goes up a penny or two. I just refreshed twice in one hour and the first time the ask went from $19.36 to $19.37. The second time it bumped to $19.39.
I do expect a skyrocketing of both gold and silver in the very near future. I wonder if we are at the beginning of that vertical line.
I’ve been refreshing my screen on the site below and every time I do it the price goes up a penny or two. I just refreshed twice in one hour and the first time the ask went from $19.36 to $19.37. The second time it bumped to $19.39.
I do expect a skyrocketing of both gold and silver in the very near future. I wonder if we are at the beginning of that vertical line.
http://bullion.nwtmint.com/silver_bags.php
Ya never know... I wish it would launch away already. I’m not planning on any gold fillings in the near future , fine by me.
Good thing wifey is heavily invested in gold and precious gems.
Ammunition is a better investment.
Question for the finance folks among us. Is the the price of gold going UP or the value of the dollar going DOWN? Just curious.
One should always be suspect of market pricing during the summer—especially August, when many of the movers and shakers are vacationing.
While I believe gold has the potential to go to $1500 in its next upswing, I would wait until a couple of weeks after Labor Day to jump in.
But I am by no means an expert. I have been purchasing Silver dollars every month for the past 2 years vs putting it in the 401k. I may regret it at some point, but for now, it seems much safer.
Yes, you caught my "real" question I guess. I too have noticed silver stays "put" while gold seems to move around. But in this case, silver and gold BOTH went up significantly .. that's why I was wondering if the price of these had just "gone up" or if the dollar was actually dropping significantly.
September is usually the best month of the year for gold.
>>September is usually the best month of the year for gold.<<
Speshly this year!
December has been the best month for gold price increases in the past ten years.
Is there any readily available gold to be had? Is everyone simply buying a gold certificate or a promise of gold? I read recently that some were concerned that J.P Morgan had only 10% of the gold they had sold and that getting the other 90% may be a problem.
Can’t say I’m up to speed on this issue but reports show that demand is up considerably with production down.
Morgan has been rumored to be one of a group who’s intent is to cap or slow golds advance. Paper gold invites price manipulation(imo)so your concern may be valid.
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