We have $1369.65 at the last spot check. Has it still got legs? Can it make $1700? Or should OG bail now and be happy? When the bottom falls out, it's going to go back down like sh*t goes through a goose! Stop biting your nails like that!

Cheers!

Rick...

Several commodities experts I've seen interviewed on CNBC say that they expect gold to hit 2,000 before too long.

The reality is that the US economy wont be improving much for the rest of this year and the current unemployment rate isn't going to go down until next year at the earliest.

Gold spiked higher today on news the QE2 went forward. This Quantitative Easing 2 is not the right solution. It is not a borrowing problem that is strangling small business right now. It is customer demand. They are shooting at a target that moved along 9 months ago.

What's gold selling at now OG ?


Wheels

just shy of $1,400.

that's 100% correct. no matter how cheap you make a loan, if you don't need to borrow, you won't.

gold will continue to go up as the fed continues to devalue the dollar. $2000 is not entirely impossible to reach, given the announcement of "let's try the same thing that didn't work last time."

Thanks OG.


Wheels

And doesn't that approach encourage what helped put us in this mess in the first place? Consumers living beyond their means?

Of course, 70% of all economic activity in the US is consumer spending so I guess that's why the Fed is trying this approach.


We really are so screwed.

They are just adding to the woes by buying debt from themselves.

Buying debt from yourself.

Are you all getting it ?

The debt to GDP ratio continues to get worse. Don't let the short-term stock market gain fool you.

Gold over $1,400. 1409 when I checked a bit ago.

Here is another indicator that it still has plenty up to go.

http://www.thestreet.com/story/10914804/1/zoellick-pushes-gold-standard-debate.html

More and more people are recognizing that the economic conditions are not so good and that there needs to be something other than promises behind the value of paper money. I don't think there can be a return to the gold standard, but that they are even talking of it shows that things are difficult right now.

OK, just broke $1,410.

Thought I would bump this since gold is over $1,800 and past my selling point of $1,700.

I am re-adjusting my bail-out point. Gold still has legs to run on.

Don't wait so long that you end up losing that Cadillac or maybe even that Astin Martin.

Dang, I just looked at the chart and there is almost no difference in Platinum and Gold pricing.

Gold - 1,835.00
Silver - 41.28
Platinum - 1,858.00
Palladium - 773.00

http://www.monex.com/liveprices


Wheels

Gold going up or dollar/euro going down?

http://www.monex.com/prods/gold_chart.html

I have a slight suspicion that when I turn that chart upside down I'm seeing what really is happening with the value of my savings and pension

Very good point Wllem; both actually - and they are related.

Anyone see Nouriel Roubini's recent comments on gold?

How about just post a damn link to it?!

Geez, bring up an issue but expect us to go on a wild google hunt? If you can't be bothered to link it, or paste in the relevant paragraph, or even just write your own notes about it, then we can't be bothered to comment.

If I know OG, I'm certain he's not going to cash in the gold for a fancy car. Nor will most of the gold buyers. They arent buying gold to MAKE money, they buy gold to protect some of what they do have. Its safety, not profit.

Some seem to be blaming gold, but that's just the symptom of other problems.

I haven't found a link to it specifically (but have found links attacking his assertion). Basically he says that gold is another bubble according to what I have seen on various websites.

PS
Finally found it, it was a tweet posted on the 25th.

Only if you see the discount rate go up and printing stopping.

He has been spotty in his predictions. He was right about the housing and derivatives, but has been wrong about other things. This includes gold. Go back and look at his gold predictions since 2009.

Rick50cal speaks the truth.