Gold prices jump to highest point since October 1980

May 02, 2006

Gold prices jump to highest point since October 1980

26 comments:

Anonymous said...: Gold is NOT at its highest compared to early eighties. Accounting for inflation of modest 3% since then, for gold to be as high as in dollars, it would have to be around $1700 an oz.

Personally, I'm buying more on dips.. mainly to protect my wealth against the dwindling $.; May 02, 2006 7:40 PM
Anonymous said...: I've been buying sense last Oct. I'm getting a nose bleed! Someone give me smoething to ketch the drops; May 02, 2006 7:49 PM
Anonymous said...: Hi guys. They're talking about a depression on MSNBC right now! Boy, this thing is going down quick!; May 02, 2006 7:52 PM
Anonymous said...: What are the best ways to invest in Gold?

Thanks; May 02, 2006 8:08 PM
Anonymous said...: rich dad aka robert kliosaki says buy gold and silver !!!

he's a RE bug. ohh boy !!!!; May 02, 2006 8:11 PM
David said...: "Hi guys. They're talking about a depression on MSNBC right now! Boy,
this thing is going down quick!"

d*MN; May 02, 2006 8:24 PM
Anonymous said...: sunday on money talk radio - national syndication- this moron was saying inflation was just 1% ! and according to the I bond the next adjustment would be just 1 %. A caller asked what to do with the 20 gold coins she bought in 1986 for 400 oz. He told her that was a bad investment and she should be happy to sell now at 600 because ther is no inflation. She responded by saying 'she will never do that again!!!"

this is the advice people are taking.

if only i could have called in and gotten her number to buy them from her!; May 02, 2006 8:29 PM
Roccman said...: Take out a line of credit against your house with a 3 to 5 year fixed rate before it looses too much value - buy silver - then in 3 to 5 years pay off the LOC and make serious Jack!!!; May 02, 2006 8:29 PM
Anonymous said...: Call a PM dealer like Kitco or Monex. Lock in your price live on the floor. Send them a check and wait for the postman to deliver it to your door registered mail. I don't trust paper notes. I want physical delivery only. When hard times come, having it on hand beats paper any day.

Warren Buffet once said that the worst thing to do is to invest in something just because the price is rising. This goes for housing as well as gold and silver. It's the fundamentals that count.

Anyone over 30% liquid assets in PM? I'm holding right at 30%. Maybe a big sell off will get me to move in more. I suggest buying silver first, then gold. Strap in and be prepared for a wild ride.

Tom; May 02, 2006 9:30 PM
Anonymous said...: I'd love the media - print, radio, tv, internet, etc - to keep the illusion of; low inflation, healthy economy, RE is good, metals are bad investment... going for as long as possible. This will delay the rush into gold and'll give me more time to accumulate.; May 02, 2006 9:44 PM
Anonymous said...: Any ideas on how to protect our 401K's if dollar tanks ?

I am invested in gold .. but fear that my 401K money won't be worth much if dollar keeps going down ..

any advice appreciated ..; May 02, 2006 10:00 PM
Anonymous said...: Of course, Guns come first. (Ammo too) That's a given. I didn't want to say it, but there I go again you nut. Read a little about Argentina and what happened there. (True story)

Tom; May 02, 2006 10:22 PM
blogger said...: "What are the best ways to invest in Gold?"

I struggled with this for awhile, and finally bought GLD - the index fund.

I also will be buying the everbank gold cd that locks in appreciation but where you can't see any depreciation. Finally, I'm researching bullionvault.com - based out of london, but you can own the actual metal and house it in their vault

see bullionvault and everbank links on the home page. GLD you can buy through your brokerage account.

I'd suggest buying on a dip - one has to be coming!; May 02, 2006 10:40 PM
Anonymous said...: Tom, Any links to that Argentina story?; May 02, 2006 10:41 PM
Anonymous said...: What does a dip mean?
Governments are selling their gold or a panic sell off.; May 02, 2006 10:44 PM
Anonymous said...: Anonymous said...
What does a dip mean?

A tasty bowl of goo for sticking chips in before ya eat 'em.

Oh, the other kind of dip...you know, a pullback within a trend.; May 02, 2006 10:48 PM
Anonymous said...: Here's the Argentina story. This is one person’s advice after living through the 2001 currency crash. This link is rated XXX it contains extreme violence and talk of guns. Do not read it unless you want to have bad dreams tonight. I make no predictions that we will ever come to this sad state. Yes, I am sick for even posting stuff like this.

http://www.peakoil.com/fortopic14183.html

Tom; May 02, 2006 11:13 PM
Anonymous said...: Hello, everybody

Look how one clown from Bloomberg calls commodities rally.

<A HREF="http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_currier&sid=aOHoDfj0eRE0
"

".... One more nail in the commodity rally's coffin: The higher prices go, the more they encourage the mining, drilling and production of new supply."

Note, there is no "inflation" word in whole his B.S.; May 02, 2006 11:16 PM
Anonymous said...: My 2 cents, for what they are worth!

GLD, USO, SLV, and BEARX.; May 02, 2006 11:17 PM
Anonymous said...: Sorry, link didn't go through

http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_currier&sid=aOHoDfj0eRE0

Commodities' Rally Suffers From Flaw: Chet Currier (Correct)

By Chet Currier

Oil, the commodity making the biggest headlines, last week soared above $75 a barrel for the first time. Gold, at more than $650 a troy ounce, looks to be mounting a challenge to the record highs set 25 years ago. Silver rocketed 8 percent on Friday when a new trading vehicle, the Ishares Silver Trust exchange-traded fund, made its debut.

All this has produced whoops of vindication from the commodity faithful, who spent the 1980s and 1990s sitting on the sidelines while paper assets such as stocks and bonds prospered.

It has also brought cries of alarm. However long it lasts, many voices of experience say, the commodity rally is headed toward a collapse like the one that ended the last great upsurge, which occurred in the 1970s.

Old hands remember the dawn of the 1980s, when the silver market plunged about 75 percent in less than four months. This time, says a poll of brokers and research companies released yesterday by Australia's Access Economics, commodity prices may be ripe for a decline of as much as 50 percent in the next two years.; May 02, 2006 11:19 PM
Anonymous said...: So why are "old hands" insisting we remember the commodity plunge in 1980?

Why aren't the "old hands" decrying the stock and bond market boom for the last 20 years?

Commodities have been hot for 4 to 5.

Re 1980: inflation was crushed by Volker.

The silver market was cornered by the Hunts illegally.

Most importantly: oil oil oil. There wasn't an actual shortage of physical oil, it was all political. Mainly, Britain and Norway, friendly NATO members, discovered lots of new oil.

That isn't happening any more.

Oh yeah. China was a dreary Communist backwater with bicycles and oxen.

In market psychology there isn't ever a "it's different this time".

However, in the physical real world it can be profoundly different:

1. Oil is reaching geological depletion dynamics (peak oil)

2. China. Worlds most populous nation doesn't arise more than once.

Betting against these is like betting against the economic performance of the US in 1890 or so. "The US boom is just another bubble and fad."

The US was an "emerging market" once too compared to Europe, and the object of significant European capital flows from their wealthy.; May 03, 2006 1:04 AM
Anonymous said...: FL_bust said...
Any ideas on how to protect our 401K's if dollar tanks ?

I am invested in gold .. but fear that my 401K money won't be worth much if dollar keeps going down ..

any advice appreciated ..

I've been trying to figure this one out too. I have my 403b in VGPMX and VGENX. I hope these paper assets in PM and oil don'g go in the shitter.; May 03, 2006 2:52 AM
Anonymous said...: autofx in ph,
I couldn't agree with you more on this. I'm buying gold and silver. When the bagger at the supermarket starts talking about buying gold, then I will know that it is time to sell. For now, everyone is ignoring me even though the price of gold has more than double since 2000.; May 03, 2006 5:17 AM
Anonymous said...: gold bubble! you love it too much.; May 04, 2006 2:02 AM
Anonymous said...: "How? what do you mean?"
Why, massa, I mean de bug --dare now."
"The what?"
"De bug --I'm berry sartain dat Massa Will bin bit somewhere bout de head by dat goole-bug."
(Edgar Allan Poe)

I love you gold.
I love you too silver.
I know that you both love me.
My precious.
You people are all just envious of us!! You can't have them!! Mine mine they’re all mine. Go away!!

Tom; May 04, 2006 10:22 PM
Anonymous said...: This is an excellent blog. Keep it going.You are providing
a great resource on the Internet here!
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Have a great week!; August 08, 2006 3:37 AM

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May 02, 2006

Gold prices jump to highest point since October 1980

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