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- - Gold just went to $1720 (https://gfy.com/showthread.php?t=1033388)

Choker

08-08-2011 02:48 PM

Gold just went to $1720

Isn't that a record all time high?

_Richard_

08-08-2011 02:48 PM

i thought it already was at a record all time high

Adraco

08-08-2011 02:59 PM

Every dollar it goes up is a new record :)

Houdini

08-08-2011 03:13 PM

Yeah, it hit $1722 this morning. Today was a record day.

VikingMan

08-08-2011 03:29 PM

You will know the time to sell when every person on your block tries to hawk their big screen TVs in order to buy gold. Sure the market may get a big correction and all the sheep will say "see I knew it was in a bubble" but if you wait it will go a hell of a lot higher than 1720.

Barry-xlovecam

08-08-2011 03:30 PM

Know the difference between intrinsic and speculative values ...

MrMaxwell

08-08-2011 09:35 PM

The dollar value of gold is changing
The value of gold is the value of gold

DatePoster

08-08-2011 09:38 PM

My gold grill is worth more than the money I spent on it lol

epitome

08-08-2011 09:46 PM

Quote:

Originally Posted by ******* (Post 18340390)

But it is a bubble ... growing out of fear.

No different than oil and god knows how many times oil prices have deflated.

Choker

08-08-2011 11:53 PM

Quote:

Originally Posted by epitome (Post 18340950)

But it is a bubble ... growing out of fear.

No different than oil and god knows how many times oil prices have deflated.

I agree with you. Many so called experts are predicting it to hit $1800. Too risky for me.

kane	08-09-2011 12:10 AM

It is at $1756 right now.

VikingMan

08-09-2011 12:24 AM

Quote:

Originally Posted by epitome (Post 18340950)

But it is a bubble ... growing out of fear.

No different than oil and god knows how many times oil prices have deflated.

Well I sold almost all of mine around $1640 but that is because I needed to use the money for something else. But I really do think it will go much higher than where it is now.

epitome

08-09-2011 12:33 AM

Quote:

Originally Posted by ******* (Post 18341068)

Well I sold almost all of mine around $1640 but that is because I needed to use the money for something else. But I really do think it will go much higher than where it is now.

I don't think anybody will argue that people can still make money. Plenty of people make money during bubbles, its what a bubble is. Just don't want to be the last guy to buy high.

DWB	08-09-2011 03:05 AM

$1776 was today's high.

Quote:

Originally Posted by epitome (Post 18340950)

But it is a bubble ... growing out of fear.

No different than oil and god knows how many times oil prices have deflated.

It is very different than oil. Throughout history people have turned to gold during financial instability, and will continue to do so all around the world. This is not just happening in the USA, it's global, and countries are every buying gold by the tonne. Because if the USD is replaced as the world reserve currency or just collapses, those who are holding it lose big. That's why many countries are buying gold with their dollars right now, bubble or not. When/if the merry-go-round stops, you can either be holding worthless paper or something that actually has value.

And I wouldn't call it fear, I'd call it common sense. There is no reason to be holding dollars (or a few other currencies) at this point when you can ditch the devaluing IOUs for something tangible.

Two things will cause gold to drop.

1) The end of the global financial crisis.
2) A huge gold deposit is found.

Both will eventually will happen. But until they do, gold is going up. The end of the financial crisis is a long while away and there is a good chance the worst is yet to come.

Worst case, gold drops and you sit on it until it eventually rises again, because history always repeats itself.

seeandsee

08-09-2011 03:14 AM

Sell sell sell, or buy buy buy

but i dont have to sell or to buy, fuck

CamTraffic

08-09-2011 04:38 AM

What s the best place to buy it?

naughtycities

08-09-2011 04:43 AM

i think this is the worst period to buy and of course the best to sell.

Nicky

08-09-2011 05:45 AM

It will start to go down but the trick is telling when :) I'm staying away from gold now though.

JFK	08-09-2011 05:51 AM

Quote:

Originally Posted by epitome (Post 18341078)

I don't think anybody will argue that people can still make money. Plenty of people make money during bubbles, its what a bubble is. Just don't want to be the last guy to buy high.

The place where I sell mine, capped the buying rate @ $53 CDN an ounce pure yesterday, anticipating a crash. They deal in huge volumes:2 cents:

Ethersync

08-09-2011 05:54 AM

Quote:

Originally Posted by Choker (Post 18341048)

I agree with you. Many so called experts are predicting it to hit $1800. Too risky for me.

JP Morgan says $2500 by year end.

Ethersync

08-09-2011 05:55 AM

Quote:

Originally Posted by CamTraffic (Post 18341329)

What s the best place to buy it?

Depends on where you are. If you are in the US go with Gainesville Coins.

2MuchMark

08-09-2011 07:13 AM

Be careful.. People are in a panic so they are buying gold. Trouble is, there is already more gold sold than actually exists in the world.

Ethersync

08-09-2011 07:36 AM

Quote:

Originally Posted by ********** (Post 18341596)

Trouble is, there is already more gold sold than actually exists in the world.

Not a problem if you are buying bullion. I kind of doubt you have much experience with any of this. Much like the numerous other topics you wax prophetic on here :2 cents:

RyuLion

08-09-2011 09:30 AM

Quote:

Originally Posted by ******* (Post 18340390)

:thumbsup:2 cents::2 cents:

Phoenix

08-09-2011 09:40 AM

2200-2500 but i dont see it coming crashing down

how is it going to crash?

will the usa flood the market to pay off debts? both getting rid of debt and raising their dollar value? that would be sweet....but not likely

Hermes

08-09-2011 11:29 AM

Gold has been going up quite steadily for many years already, or value of money has gone down to be more correct, so obviously there comes a new "record" almost all the time. We could have a topic like this every 3rd day.

http://www.kitco.com/LFgif/au0030lnb.gif

facialfreak

08-09-2011 11:38 AM

$1751.00 now .... fasten your seatbelts, and return your stewardess to her normal upright position!!

facialfreak

08-09-2011 11:46 AM

$1770 in last 4 minutes!!! UNREAL!!

Houdini

08-09-2011 11:53 AM

Quote:

Originally Posted by ********** (Post 18341596)

Be careful.. People are in a panic so they are buying gold. Trouble is, there is already more gold sold than actually exists in the world.

You make a good point. If you're buying paper gold, GLD, you don't own gold. Need to buy the physical if you want to own it.

JFK	08-09-2011 11:54 AM

well its $1768.80 now :winkwink:

VikingMan

08-09-2011 12:19 PM

you guys will really enjoy the interviews on http://www.kingworldnews.com

facialfreak

08-09-2011 12:28 PM

So many people tell me that they cannot afford to invest in precious metals ....

The sad part is that with the state of the world economy right now ...
THEY CANNOT AFFORD NOT TO!!! http://fc06.deviantart.net/fs70/f/20..._krissi001.png

epitome

08-09-2011 12:54 PM

Quote:

Originally Posted by DWB (Post 18341240)

$1776 was today's high.

It is very different than oil. Throughout history people have turned to gold during financial instability, and will continue to do so all around the world. This is not just happening in the USA, it's global, and countries are every buying gold by the tonne. Because if the USD is replaced as the world reserve currency or just collapses, those who are holding it lose big. That's why many countries are buying gold with their dollars right now, bubble or not. When/if the merry-go-round stops, you can either be holding worthless paper or something that actually has value.

And I wouldn't call it fear, I'd call it common sense. There is no reason to be holding dollars (or a few other currencies) at this point when you can ditch the devaluing IOUs for something tangible.

Two things will cause gold to drop.

1) The end of the global financial crisis.
2) A huge gold deposit is found.

Both will eventually will happen. But until they do, gold is going up. The end of the financial crisis is a long while away and there is a good chance the worst is yet to come.

Worst case, gold drops and you sit on it until it eventually rises again, because history always repeats itself.

Everybody is turning to gold, thereby creating a bubble.

People turn to gold during economic instability and people turn to oil during political instability.

Very similar and still bubbles.

epitome

08-09-2011 12:56 PM

Quote:

Originally Posted by Phoenix (Post 18341909)

It will come crashing down when everybody is in the mood to spend again so that they can get a return on their money rather than hoarding it. They'll want to convert their gold to cash ... everybody will likely want to do it in the same time frame.

VikingMan

08-09-2011 12:58 PM

Quote:

Originally Posted by epitome (Post 18342559)

Everybody is turning to gold, thereby creating a bubble.

People turn to gold during economic instability and people turn to oil during political instability.

Very similar and still bubbles.

Let me guess. You have been calling this a bubble since it went over $1k and you never bought in because of that. So now that you lost your chance you are trying to rationalize your actions. I will tell you what a real bubble is......The US DOLLAR. Even though the US Dollar has lost half its value over the past few years it is STILL the biggest bubble which has ever existed on planet earth. Hell it could be cut in half again and it would still be the biggest bubble which has ever existed.

I do anticipate a "shake out" soon though. Most little guys will get scared and sell because it will get pretty bad.

epitome

08-09-2011 01:01 PM

Quote:

Originally Posted by JFK (Post 18341450)

The place where I sell mine, capped the buying rate @ $53 CDN an ounce pure yesterday, anticipating a crash. They deal in huge volumes:2 cents:

:thumbsup

I have no gold.

I'm already extremely sickly and on meds that are the equivalent of street heroin. How would I get them? What about when I run out of my 30 day supply of antibiotics and the infection ravages my body?

I'm killing myself if shit ever gets too crazy. The misery of living would not be worth it.

Lykos

08-09-2011 01:34 PM

Damn,thats good,gold makes me happy,justhope it wont go down a lot later,lol

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