[ZhangFei]

LONDON — Gold prices soared to a record 1,174 dollars an ounce here on Monday as a sliding US currency and worries about a possible spike to inflation increased demand for the "safe-haven" metal, traders said.

Gold hit exactly 1,174 dollars an ounce in late trading on the London Bullion Market. It later pulled back slightly to stand at 1,170.32 dollars.

"Gold reached new highs as the dollar continued its decline," said ODL Markets analysts in a note to clients.

The dollar slid against the euro Monday on concerns that the Federal Reserve may keep emergency stimulus measures in place for a while longer, traders said. Comments by a US Federal Reserve official that he would prefer to keep the central bank's asset-buying programme active beyond its current cut-off date pushed the dollar lower, analysts said.

Federal Reserve Bank of St. Louis President James Bullard said an extension of the programme, widely considered a negative factor for the US currency, would give more flexibility to US policymakers.

"Central bank rhetoric provided fresh incentive" to push the dollar lower, said Jane Foley, analyst at online trading firm Forex.com.

"Gold prices printed another fresh high on the back of dollar weakness with Bullard's comments promoting the discussion of medium-term inflation potential, though economic data continues to indicate a absence of price pressures," Foley added.
source: http://www.google.com/hostednews/afp/article/ALeqM5haeFiWgN54TEzqA06CHOR_e6RU1g

HOLY FUCKING SHIT!!!! :eek:

Its gonna hit $1200 pretty soon I tells ya

[skyxx]

never a good thing. :/

[ZhangFei]

any guesses when it will hit $2000?

[spyker]

That's not good,I guess I will have to save some more before I can get that 250 gram gold chain I always wanted.

[asian_XL]

Gold has no direct impact on us.

[StylinRed]

they said its going to hit $2k next year




The impact on the US with Gold is that people are buying Gold instead of USD, so there is an impact





its at $1167.8 atm gold.org

[bigassbooger]

^we live in canada we gives a fuck about the USD.
isnt it a good thing that people r investing in GOLD so the USD drops. CHEAP SHOPPING?

[ZhangFei]

^ the united states is our... siamese twin. if it goes down, we will too.

who will then buy our softwood lumber then? china?

[mr sinister]

^we live in canada we gives a fuck about the USD.
isnt it a good thing that people r investing in GOLD so the USD drops. CHEAP SHOPPING?

g'damn you're stupid

[antonito]

^we live in canada we gives a fuck about the USD.
isnt it a good thing that people r investing in GOLD so the USD drops. CHEAP SHOPPING?

With a really weak American dollar, the Canadian economy will get fucked, and theoretically your shopping money will evaporate.

[trip]

lol.. i bought gold at 820/oz and that was too late

i was going to jump in when it was 500/oz but i didnt back then. if i had more money i would buy up more gold for wealth preservation.

[Harvey Specter]

I have tons of gold sitting at the bank....maybe it's time to take it out and flip it.

[Vansterdam]

^naw i say you wait

[silk]

who can give me a brick ?

[Mugen EvOlutioN]

$1174 an ounce...holly shit


:eek:

[shenmecar]

^we live in canada we gives a fuck about the USD.
isnt it a good thing that people r investing in GOLD so the USD drops. CHEAP SHOPPING?

you should take that bigassbooger out of your brain. Its obviously lowering your intelligence.

[unit]

this is no surprise at all.
in fact lots of speculators were estimating gold would hit $2000 THIS year, just months after the recession hit hardest around march. well, they were off their mark, and i doubt it'll hit $2000 next year either.

[spoon.ek9]

wait, zhangfei made a useful thread?


HOLY FUCKING SHIT!!!! :eek:


:haha:

[quasi]

I have tons of gold sitting at the bank....maybe it's time to take it out and flip it.

I made a mistake but, a ton is 32000 ounces and you have multiple tons, you really are Gordon Gekko. :)

[taylor192]

if i had more money i would buy up more gold for wealth preservation.
So you can repeat the errors of the 80s? When gold was at $850 then dropped to $350 before hitting ~$200 in the 90s?

If you bought gold at the peak in the 80s, with inflation, you'd be down money right now even at the current peak.

[q0192837465]

man, USD can't fall, it'll be hell if USD is no longer the universal currency

[Gt-R R34]

So you can repeat the errors of the 80s? When gold was at $850 then dropped to $350 before hitting ~$200 in the 90s?

If you bought gold at the peak in the 80s, with inflation, you'd be down money right now even at the current peak.

yah, think with inflation, in actual 2009 dollars gold in the 80s was worth 2250 an ounce.

[ZhangFei]

http://www.youtube.com/watch?v=gTqvXaJCw34

robert kiyosaki explains what is happening to the american dollar.

[achiam]

^we live in canada we gives a fuck about the USD.
isnt it a good thing that people r investing in GOLD so the USD drops. CHEAP SHOPPING?

You're clearly a poorly educated retard. Do you have any idea what currency fluctuations mean in relation to trade deficits and economic growth?

[taylor192]

yah, think with inflation, in actual 2009 dollars gold in the 80s was worth 2250 an ounce.
Now do the same with BC housing prices in 1995 to 2002, where they stayed flat and inflation made them money losing ventures.

We're in for some big trouble when this all unwinds.

[asian_XL]

The impact on the US with Gold is that people are buying Gold instead of USD, so there is an impact

gold.org

I said direct impact...you don't buy a block of gold to eat or to drive or to sleep in

[unit]

gold is going up, but how fast?
i think its the safest investment right now... might liquidate my portfolio into gold soon

where is the best place to buy gold in canada?

[skyxx]

This man speaks the truth.

http://www.alanjohns.fsnet.co.uk/goldmember/goldmember.jpg

[bigassbooger]

gold is going up, but how fast?
i think its the safest investment right now... might liquidate my portfolio into gold soon

where is the best place to buy gold in canada?

vbce.ca
edit:
They are located on west broadway. The store front is really hard to spot.

[threezero]

gold is going up, but how fast?
i think its the safest investment right now... might liquidate my portfolio into gold soon

where is the best place to buy gold in canada?

is it a good idea to invest at its peak? seems like a better idea to offload gold you already own?

[unit]

^well the idea is that its not coming down as long as inflation continues to rise.
and it looks like thats going to happen with the us printing so much money.

[skyxx]

^ Who needs to print money when you could just enter extra zeros in the computer. Which is what they do now anyway. :)

[trip]

VBCE also has a richmond branch. when i was purchasing from them the main branch on broadway had none in stock and was taking orders on a minimum purchase of five 1oz coins.

called up richmond, they were lucky to have 5 in stock and i grabbed them.. this was last november.

[q0192837465]

The world has lost faith in USD. Gold seems like it's going to be the world currency like the old days.

[Manic!]

The main use of gold is jewelry and with the recession who's buying that?
I have a feeling gold prices are artificially high and will crash soon.

[trip]

gold just broke $1200 barrier

[Vansterdam]

hey guys i got a small ammount of gold from some old jewlery.. where would you recommend selling it for a good price?

[misteranswer]

The main use of gold is jewelry and with the recession who's buying that?


Everyone in India and China.

India is the only place I know of that has a gold buying season.

[Carl Johnson]

KaMnxUpjHXY

This is the same person who called the great recession back in 2007.

[misteranswer]

KaMnxUpjHXY

This is the same person who called the great recession back in 2007.

Guess that means he had one lucky guess and now is wrong on everything else he says.

[trip]

look at peter schiffs track record. he was right about alot of things over years. gold took alot of bumps and bruises this year. it took forever to break the 930/oz barrier this year and once it did it was a slow climb up.

thanks to this man, my gold investment is up 38% as of today in only one year. gold is a long term investment and is safer than playing the stock marker...but where there is risk, there is reward. so i have to say what better low risk method is there? you wont get the same from any bank.

[Manic!]

The gold price has slumped after surprisingly good US unemployment data sent the US dollar higher, making gold a less attractive investment.

Gold fell more than $65, or 5%, to $1,161.4 an ounce, down from a record high of $1,226.56 in early trading.

http://news.bbc.co.uk/2/hi/business/8396542.stm

[trip]

yup, took a big hit today when i needed to cash out a bit.. still had a 35% profit gain