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Gold prices pass $500-an-ounce in Asia trading
AFP via Babelfish translation | November 29, 2005

Posted on 11/28/2005 10:06:09 PM PST by HAL9000

Gold crosses the 500 dollars the ounce in Asia

HONG KONG - the rates of gold have crossed Tuesday the 500 dollars the ounce in Asia, for the first time for 18 years, indicated brokers.

Gold exchanged with 500,5 dollars the ounce with 05H00 GMT on the markets of the Asia-Pacific, its higher level since 1987.

"It is as if a correction were going to occur at one time or another but I do not think that the courses will go down under 475 USD because the tendency is still hawser", explained to the agency XFN-Asia Ashok Sekar, adviser customers at Tricom.



TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: commodities; gold

1 posted on 11/28/2005 10:06:12 PM PST by HAL9000
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To: HAL9000

Gold is on an up cycle, and I believe it will go much higher. It might be $600-$700 in the near future.


2 posted on 11/28/2005 10:08:17 PM PST by BlackVeil
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To: HAL9000

Strength in the USD and Gold...

Interesting times...


3 posted on 11/28/2005 10:10:08 PM PST by RWR8189 (George Allen 2008)
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To: HAL9000

I can't get Kitco.com to come up.
http://www.kitco.com/


4 posted on 11/28/2005 10:12:47 PM PST by Liberty Valance ("Those are my principles. If you don't like them I have others." - oh, and Merry Christmas!)
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To: HAL9000
She finally did it, broke through that psychological barrier of $500 per oz. Some out there do have a concern over creeping inflation.

Gold 100 oz. chart (GC, COMEX)

5 posted on 11/28/2005 10:21:58 PM PST by M. Espinola (Freedom is never free)
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To: M. Espinola

Gold Breaks US$500 Barrier

MELBOURNE, Nov 29 Asia Pulse - The gold price has topped US$500 an ounce on the local market, reaching its highest levels for nearly 20 years.

At 1230 AEDT the price of gold in Sydney had hit US$502.15 per fine ounce, up US$4.50 on last night's close. ADVERTISEMENT



And the price may be set to rise further still, with some analysts forecasting the gold rush to continue.

CommSec commodities analyst David Thurtell said gold was now at its highest level since 1987 and he expected it to keep going up for some time yet.

"It has probably got some legs yet," he said.

Mr Thurtell said he expected the gold price could reach US$550 in the first six months of 2006.

"Then we could see a bit of a demand reaction and a bit of a supply response," he said.


6 posted on 11/28/2005 10:25:03 PM PST by Liberty Valance ("Those are my principles. If you don't like them I have others." - oh, and Merry Christmas!)
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To: HAL9000

Buy, buy, buy!!! LOL


7 posted on 11/28/2005 10:27:55 PM PST by Porterville (Beware the Egyptian Politics)
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To: HAL9000

If I lived in Asia, I would be buying Gold too


8 posted on 11/28/2005 10:27:58 PM PST by MJY1288 (THE DEMOCRATS OFFER NOTHING FOR THE FUTURE AND THEY LIE ABOUT THE PAST)
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To: Porterville

last time gold was high and I bought , I lost my shirt.... ;^)


9 posted on 11/28/2005 11:05:58 PM PST by injin
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To: injin

Last time I bought, gold was at an all-time low. Then it went lower. A lot lower. It has finally gotten back above what I paid for it. Will probably sell now.


10 posted on 11/29/2005 5:22:44 AM PST by jim_trent
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To: HAL9000
Free Image Hosting at www.ImageShack.us
11 posted on 11/29/2005 9:23:22 AM PST by Santiago de la Vega (El hijo del Zorro)
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To: HAL9000
Click on the chart for the most recent data.

Notice the huge volume in recent days. If gold punches through $500, we're in for a big run.

If you're a trader, you short it here and hold on; get out when in goes over $500.

Free Image Hosting at www.ImageShack.us
12 posted on 11/29/2005 9:31:10 AM PST by Santiago de la Vega (El hijo del Zorro)
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To: Liberty Valance
Thanks for that Gold news.

What I was stating concerning the correlation between gold's rise and 'creeping inflation' is making headlines.

Gold hits $500 amid inflation fears

Liberty, here is a photo you should enjoy :)

13 posted on 11/29/2005 12:17:07 PM PST by M. Espinola (Freedom is never free)
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To: M. Espinola
creeping, ha, yeah! A look at price charts going back to 1945 ought to give you an idea about how much it creeps. Google "inflation sahr" to see Dr. Sahr's charts.

Really, the more short term the sheeple can be kept thinking the lower inflation seems. It wasn't much this month, week, day, so it is low. But over 30 years forget it.

14 posted on 12/01/2005 2:43:25 PM PST by Jason_b
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To: Jason_b
You are as right as rain. I should have posted what I really feel is underway, and that is due to rocketing general energy prices.

The proper term describing what is adversely filtering through the entire American & global economy is a 'petrol fueled inflationary spiral'.

Happy Motoring :)

15 posted on 12/01/2005 7:40:02 PM PST by M. Espinola (Freedom is never free)
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To: M. Espinola
I respectfully disagree with your last statement, here's why.

The old saying it is the same house, it is the money that has changed in price can be modified, it is the same petrol but it is the money that has changed in price.

It may be an oversimplification to say this but there is still a lot of truth in it: Every additional new dollar put into circulation makes the existing dollars less valuable. That is why the prices go up, to gather more of the cheaper money. The merchants are getting more nominal cheaper money but no more purchasing power than with earlier lower prices and stronger money.

That is where your inflation comes from. So it is not skyrocketing energy prices (it is the same energy, extracted and delivered the same way), the problem is over the long term crashing money, or money that is doing a poorer and poorer job of storing the wealth of its holders.

16 posted on 12/02/2005 4:57:53 AM PST by Jason_b
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To: Jason_b
Thanks for your response. I agree with your statements relating to new/old money and inflation.

It's very true, however when one key commodity gets a 40% price jolt in one year,(even if some of the price includes massive sales tax increases) and that commodity, in this case crude oil, overlaps into the entire economy pruducing various other uses as listed on the charts below, then the general population is effected economically.


17 posted on 12/02/2005 11:56:01 AM PST by M. Espinola (Freedom is never free)
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To: M. Espinola

Thanks for the petro fractions graphic. Refining is an amazing process.


18 posted on 12/02/2005 11:59:35 AM PST by Rebelbase (Food stamps, section-8, State paid Child support, etc. pay more than the min. wage.)
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To: Rebelbase
Now if we can only get additional, brand new, domestic operational refiners - refining :)

Here's a couple more graphics:


19 posted on 12/02/2005 8:33:55 PM PST by M. Espinola (Freedom is never free)
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To: M. Espinola

Nice graphics. Saved them all.


20 posted on 12/02/2005 8:37:20 PM PST by Petronski (Cyborg is the greatest blessing I have ever known.)
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To: Petronski
It's a shame the only way to actual view the full size version of Petroleum Economist's ultra-detailed global energy map(s) are to buy them, and or subscribe. Neither method is cheap.

PetroleumEconomist

21 posted on 12/03/2005 12:33:14 AM PST by M. Espinola (Freedom is never free)
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To: HAL9000
Glad I own three and half ounces of gold now.

I own over fifty silver coins of silver and I bought it at around $7 per ounce. Not bad now considering silver is $8.63 per ounce as of December 5th 2005.

22 posted on 12/05/2005 5:08:42 PM PST by 2nd_Amendment_Defender ("It is when people forget God that tyrants forge their chains." -- Patrick Henry)
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