Posted on 11/09/2009 7:47:59 AM PST by TigerLikesRooster
Edited on 11/09/2009 8:05:18 AM PST by Admin Moderator. [history]
NEW YORK (Dow Jones)--Gold futures - as well as spot metal - extended record highs shortly before futures floor trading opened in New York on Monday.
A markedly weaker U.S. dollar was mainly behind the surge.
In recent trading, December gold was up $11.70 at $1,107.40 an ounce after hitting a most-active record of $1,111.70. Nearby November gold hit $1,109.30, a front-month Comex record. Spot gold also hit a fresh all-time peak of $1,111.15 an ounce as the U.S. dollar weakened against the euro.
(Excerpt) Read more at online.wsj.com ...
From WSJ: Options Selling May Curb Gold's Rise ,
/snip
At this week's annual London Bullion Market Association conference in Edinburgh, a poll of audience members found the average forecast for gold's price in September 2010 was $1,181 an ounce. On Monday, spot gold topped $1,100 an ounce
/snip
It’s not too late to get your BAHOG.
If you can’t afford it, there’s always silver.
It’s not too late to get your BAHOG.
If you can’t afford it, there’s always silver.
It’s not too late to get your BAHOG.
If you can’t afford it, there’s always silver.
woops. then again the comment is so nice i said it thrice.
What’s the best way to purchase physical PMs? Not sure I trust the TV advertisers.
apmex.com?
You guys are all koooks! There is nothing more sound than paper currency. Don’t you people have full faith in our federal government? Don’t you trust the bankers running the Federal Reserve to look out for everyone’s interests?
Never mind that silly, monetary history stuff. History is for people to study when they’re too full of fear to trust our much wiser and smarter and brighter central planners.
Sorry :)
Have you seen this? Buy Gold for $50 a ounce. And the stupid people don't take him up on the offer.
Has anyone ever written a good book on the subject of what to do with gold in a real crisis should the holder need either some cash, or a way to trade gold for goods?
If someone has a fair amount of gold that had been purchased over some years, and then the real crisis strikes, through what channels may the holder use his gold to live on if necessary?
Okay the crisis is on, say, and the dollar is in rolls for toilet paper instead of in the wallet. The gold owner needs to buy a bag of groceries. How does he do it?
I’m looking for a book on this subject, and assuming someone has either written such a book, or some good articles on the subject.
Anyone know of such materials?
I always assumed it would go something like “I’ll give you 2 ounces of silver for that bag of food.” or “I’ll give you this box of ammo for that bucket of potable water”.
That’s why I’ve been hoarding ammunition and silver shot. And buying emergency food and water rations.
Nah, they know I have a handy list of who was wrong at $500...$650...$800... :-)
The best suggestion I’ve seen is:
“Don’t buy gold coins - buy old gold rings from a pawnshop. That way, when you go to exchange them you just look like some poor guy down on his luck who’s trading in his last thing of value for a morsel of food for his family, not a filthy gold speculator.”
Wow... you don’t even have to like gold to know these people are morons.
I think your suggestion is a very good one.
AND I’d still like to find a book written on the general subject of cashing gold for daily needs in a crisis.
If there’s a local bricks and mortar coin shop where you live, that’s the best, esp. for silver since it is so heavy in quantity. He has to stay in business and is likely to want your business so is willing to meet online prices. If you cultivate a business relationship over time with a local dealer they will always give you a fair shake buying or selling. He is buying and selling based on a “spread” that is a percentage above and below the “spot” price. Retail purchase prices are higher for you, and lower when selling. Profit margins are thin on these items from what they tell me, so it pays to do this. You may find it difficult to find product to buy when prices are low, and an unwillingness to purchase when prices are high. There is, after all, no law that requires anyone to buy or sell at prices.
Try this link. They also sell gold in 1/10 oz coins and other weights.
http://www.americansilvereagles.com/Uncirculated_Silver_Eagles
The problem there is that rings in the US are often of a lower karat, 14k. It is readily saleable but at a steep discount. A lot of stuff is plated or ersatz too, I don’t have time for all that. It’s like picking up nickels in front of a steam roller. Major country of issue coins of known weight and purity offer the least confusion and tightest spreads, etc. Other countries often sell jewelry with high karat but then there is the authenticity problem. That’s why coins offer the best value and safety.
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