Gold Jumps to Record as Inflation Outlook Fuels Investor Demand

[Bindare_Dundat]

Oct. 6 (Bloomberg) -- Gold rose to a record on speculation that inflation will accelerate and erode the value of the dollar, boosting the appeal of the precious metal for investors seeking to preserve their wealth.

Gold futures climbed as high as $1,038 an ounce in New York, topping the previous record of $1,033.90 in March 2008. The spot price headed for a ninth straight annual gain, the longest rally since at least 1948. The dollar fell as much as 0.6 percent against a basket of six major currencies.

Currently: $1042.00

[Soul Crusher]

Oct. 6 (Bloomberg) -- Gold rose to a record on speculation that inflation will accelerate and erode the value of the dollar, boosting the appeal of the precious metal for investors seeking to preserve their wealth.

Gold futures climbed as high as $1,038 an ounce in New York, topping the previous record of $1,033.90 in March 2008. The spot price headed for a ninth straight annual gain, the longest rally since at least 1948. The dollar fell as much as 0.6 percent against a basket of six major currencies.

Currently: $1042.00

Move on, nothing to see here.  Everything is fine.    

[240 is Back]

all from that 1 newspaper article about the oil states dropping the buck.  Today, all of the countries call it nonsense, citing the major cost of change and the fact the US buys most of that oil.  

I bet a lot of people got rich today predicting the dollar slide this fine morning from that backlash.

[Soul Crusher]

all from that 1 newspaper article about the oil states dropping the buck.  Today, all of the countries call it nonsense, citing the major cost of change and the fact the US buys most of that oil.  

I bet a lot of people got rich today predicting the dollar slide this fine morning from that backlash.

240 - how much did that MBA cost?  Cant be more than the $49.95 in the mail for the certificate.  Where can I get one? 

 

[Bindare_Dundat]

240 - how much did that MBA cost?  Cant be more than the $49.95 in the mail for the certificate.  Where can I get one? 

 

I like the guy but sometimes  I wonder what 240 is smoking.

[The ChemistV2]

I actually caught a nice Gold futures trade this morning at about 8:20 am est, when it broke through it's resistance level $1030.00. Made a nice little pop on it.

[Soul Crusher]

I actually caught a nice Gold futures trade this morning at about 8:20 am est, when it broke through it's resistance level $1030.00. Made a nice little pop on it.

You want to laugh?  Straw and Lurker said Schiff and Celente have no clue what they are talking about re: Gold.     

[The ChemistV2]

You want to laugh?  Straw and Lurker said Schiff and Celente have no clue what they are talking about re: Gold.     

Actually many experts have said for weeks if Gold breaks through $1030, it could could continue a nice price movement. I guess Libs like Straw know better. Maybe he can advise me on my next trades. I had an audible alarm set to notify me when the price breakout occured this morning. Glad I caught that little move.

[Soul Crusher]

Actually many experts have said for weeks if Gold breaks through $1030, it could could continue a nice price movement. I guess Libs like Straw know better. Maybe he can advise me on my next trades. I had an audible alarm set to notify me when the price breakout occured this morning. Glad I caught that little move.

Its really not hard to grasp - we went from reckless (Bush) to suicidal (Obama) in a matter of months as far as deficit spending goes and everyone but the Kool Aiders understand this.   

[The ChemistV2]

Its really not hard to grasp - we went from reckless (Bush) to suicidal (Obama) in a matter of months as far as deficit spending goes and everyone but the Kool Aiders understand this.   

True..definitely starting to consider the possibilty of taking my funds out of U.S. currency and putting it into commodities or something in the near future. We all know that in Zimbabwe, a bag of groceries= $1,000,000.00.

[Soul Crusher]

True..definitely starting to consider the possibilty of taking my funds out of U.S. currency and putting it into commodities or something in the near future. We all know that in Zimbabwe, a bag of groceries= $1,000,000.00.

Celente has a pretty wierd strategy - some money in dollars, some in Euros, and the bulk in gold.  He said that way he is almost assured of not losing anything while possibly gaining with the gold play.     

He explained it in an interview. 

[The ChemistV2]

Celente has a pretty wierd strategy - some money in dollars, some in Euros, and the bulk in gold.  He said that way he is almost assured of not losing anything while possibly gaining with the gold play.     

He explained it in an interview. 

Sounds pretty smart.

[Soul Crusher]

Sounds pretty smart.

He said when the dollar drops the Euro typically rises and vice versa.  however, he said Gold is going much higher based on simple reality. 

His interviews are great.  I post them all the time.   

[The ChemistV2]

He said when the dollar drops the Euro typically rises and vice versa.  however, he said Gold is going much higher based on simple reality. 

His interviews are great.  I post them all the time.   

I've been trading currencies and commodities for about 3 years  and the relationship between the dollar, euro and gold is usually correct, but not always. Sometimes when Gold should be moving way up, there are forces at work that manipulate the market and prices down...so the fundamentals and common logic don't always apply.

[Bindare_Dundat]

I've been trading currencies and commodities for about 3 years  and the relationship between the dollar, euro and gold is usually correct, but not always. Sometimes when Gold should be moving way up, there are forces at work that manipulate the market and prices down...so the fundamentals and common logic don't always apply.

Zerohedge had a great article explaining the manipulation of gold prices and had declassified government documents detailing the whole thing.

[MB_722]

all from that 1 newspaper article about the oil states dropping the buck.  Today, all of the countries call it nonsense, citing the major cost of change and the fact the US buys most of that oil.  

I bet a lot of people got rich today predicting the dollar slide this fine morning from that backlash.

you're a smart guy, 240.

[Bindare_Dundat]

Gold hit a high of $1062.40 today folks.

[Soul Crusher]

Gold hit a high of $1062.40 today folks.

Foreign nations know the deal.  Its only the idiots in this country, focused on getting free health care, that have no clue what is going on.