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Gold hits $700 for first time since 1980
Reuters ^

Posted on 05/09/2006 3:27:39 PM PDT by Capitalism2003

NEW YORK (Reuters) - U.S. benchmark gold futures scaled a new 25-year high at $700 an ounce on Tuesday, boosted by relentless investor buying powered by geopolitical concerns and expectations of further price gains ahead, dealers said.

By 11:30 a.m. EDT, June delivery gold on the New York Mercantile Exchange's COMEX division was up $20.10 or 2.9 percent at a session peak of $700, which marked the loftiest level for futures since September 1980.


TOPICS: Business/Economy; News/Current Events
KEYWORDS: frnfunnymoney; gold; goldbuggers; goldbugs; keepprinting; panic; papermoney; skyisfalling
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To: Enterprise
On the radio today was a statement that gas is likely to fall 75 cents a gallon by Labor Day.

Supposedly there is a move afoot in COngress to dump the $.54 per gallon tarrif on imported ethanol. US suppliers are not able to keep up with the increase in projected demand due to the dumping of MTBE as a fuel additive (replaced with ethanol) and Congress' mandating an increase in ethanol fuels, so we will be/are importing ethanol from Brasil.

61 posted on 05/10/2006 8:29:12 AM PDT by Smokin' Joe (How often God must weep at humans' folly.)
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To: coconutt2000

"Leastwise, that's my opinion."

Thanks for your opinion.

However in the opinion of every government and central bank on the planet, along with millions of people who buy and sell gold on a daily basis, the current value of gold is $708.00

:)


62 posted on 05/10/2006 1:13:30 PM PDT by Capitalism2003 (www.LP.org)
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To: Capitalism2003
Watch out when I sell! I'm down to one car in my garage now : )


63 posted on 05/10/2006 4:02:16 PM PDT by bjs1779
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To: bjs1779

*droooooooooool*


64 posted on 05/10/2006 9:44:14 PM PDT by Capitalism2003 (www.LP.org)
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