Home Forums Hunting & Shooting Hunter's Campfire Gold Hit $700.70 Today - Silver $14.59

Highest gold number since 1980.

China, the largest single holder of US dollars is dumping them and buying gold.

World markets are not happy with the cowboy in the Whitehouse, the instability in the middle east and US debt. The dollar's value is dropping.

Aren't we investors supposed to buy high and sell low?

Dang, it. I shoulda sunk all my $ into gold at $300 a couple of years ago. By now, all that money would have grown to..... let's see.... about $3000!! (enough to heat my house all of next winter) <img src="/ubbthreads/images/graemlins/smile.gif" alt="" />

I doubt the China's divestment of U.S. treasury bonds has anything to do with the fact that the President owns a Stetson. More likely, it seems that China's reserves in federal currency were maintained for the purpose of deflating the yuan so that China could develop its export lines with the benefit of cheap capital. Now that it views its export business as more stable, it can divest itself of low-yield treasury bonds and increase the value of the yuan relative to other world currencies and reap the rewards. Regardless of what is behind the move, it is not particularly comforting.

I've doubled my money on Kinross Gold Inc.

But my father in law bought around 50,000 shares when it was trading at 50 cents a share. Today it's at just under $13, you do the math.

You'd never know it to look at him or even spend a few minutes talking to him but the old coot is pretty dang shrewd.

yes, you don't make money buying gold itself, but in gold producer's stock. Your dad in law picked a winner there!!

Brad,

Like the mainstream media, you are pretty clueless regarding the real reason for the price movement in commodities, especially gold and silver.

When you and the mainstream media figure out the real reason, I'll be selling you and the checkout person at the grocery store my gold and silver shares.

Later spot,

Tony

PS : For the record, I have been invested in gold and silver since 2001...... <img src="/ubbthreads/images/graemlins/grin.gif" alt="" />

Owning a piece of paper is great when its shows the right numbers but when things go bad what do you have? A worthless piece of paper? When you buy an ounce of gold bullion you own an ounce of gold no matter what. I started selling American Eagles about three years ago. You can not go wrong owning bullion IMO. I would never replace my 401k but I would never completely rely on it either. We have had several runs on the $700 mark lately and with the price of oil etc. who knows where it will stop.

Careful there Brad. You're giving cowboys a bad name! <img src="/ubbthreads/images/graemlins/laugh.gif" alt="" />

I'm showing $693 and $13.99 as spot at the moment.

www.thebulliondesk.com
www.amark.com
www.kitco.com

I trade bullion all day, every day. I use "the bullion desk" as the most accurate spot price.

Somebody should tell the Dow the sky is falling, because it's up again and bumping against the all time high. And that Haliburton I got last month is bumping $82. I blame Bush. <img src="/ubbthreads/images/graemlins/grin.gif" alt="" />

Steve, "the sky is falling"... huh? I offer a few sentences and you create a novel... interesting.

"China, the largest single holder of US dollars is dumping them and buying gold.

World markets are not happy with the cowboy in the Whitehouse, the instability in the middle east and US debt. The dollar's value is dropping. "

Brad---That's your post, not mine. I thought "the sky is falling" was a pretty good summary.

I wouldn't mind buying one of the gold or platinum newly minted U.S. coins. I think they are really beautiful.

But, they cost more than I got! <img src="/ubbthreads/images/graemlins/smile.gif" alt="" />

If commodity gold is at $700, nugget gold should be running about $2000 to $2600 or more per ounce, depending on the size.

Not necessarily so. I have a nugget thats a wee bit under 14 grams IIR and I'd make anyone here a real good price on it. I'll dig it out of the safe if anyone is really interested. No matter what having some amount of your net worth in precious metals is a wise move. You don't have to buy platnum 1 ounce coins to get started. Try staring with 1 0z Silver eagles or 1/10 Oz gold eagles. Put a little up now and then and in a few years you might be suprised at what you have. I got interested because all of the 401k's/stocks were performing so poorly. The Bullion Eagles look exactly the same as the Proof Mint Eagles except they are not double struck and lack the proof finish. The Mint sets can be bought direct from the mint but IMO bullion Eagles are a better investment.

Stetson, we're a bit more bullish on silver rounds as the Eagles carry a premium because of the US mint cache.

Pardon my yawn. That was 26 years ago!

I bought gold in 1980 and consider that to have been a great investment, but only because it was in the form of
two wedding rings. <img src="/ubbthreads/images/graemlins/grin.gif" alt="" />

Goldie has been a hot date Brad...guess its time for you to take her out for a while, I need a rest <img src="/ubbthreads/images/graemlins/smile.gif" alt="" />

+1 Walker.