Gold just hit 1000!

[Jeremy]

Now I hope it goes down a lot for some time so I can buy! :)

[RevolutionSD]

Gold is in a CRAZY rally right now!
I'm kicking myself for not loading up when it was in the 700's. Of course I didn't have the dollars then either...

[StudentForPaul08]

hahaha go GOLD go!

[Bruno]

Gold is in a CRAZY rally right now!
I'm kicking myself for not loading up when it was in the 700's. Of course I didn't have the dollars then either...

+ 1 :o

[Jeremy]

Gold is in a CRAZY rally right now!
I'm kicking myself for not loading up when it was in the 700's. Of course I didn't have the dollars then either...

It could be like 500 soon for all we know. What if IMF sells all their gold? But then it will go way high.

[brandon]

Oh wow, gold really did hit 1000.

This morning people were claiming it did, but those were just the gold futures.

I think gold just broke through its all time high

[Paulitician]

Oh wow, gold really did hit 1000.

This morning people were claiming it did, but those were just the gold futures.

I think gold just broke through its all time high
No, it's high was 1021.

A few dozen bucks left to go.

[rockandrollsouls]

Now I hope it goes down a lot for some time so I can buy! :)

Same. Just because the price of gold is up doesn't mean all gold related investments are. For example, I sold off shares of my investment when gold was around 960 for a fair bit more than they are worth now. The miners typically overreact to a decent run and then pull back to a new support.

As for gold pulling back, I think it could be possible if we have another round where everyone must deleverage again, but only time will tell. Guys, if you're heavily invested it's not a bad idea to take some profit!

[puppetmaster]

Ask Peter Schiff is he is taking profit or buying!

[mport1]

Ask Peter Schiff is he is taking profit or buying!

He will continue to buy gold for quite awhile. He thinks it will go much higher and the value of dollars will go much lower.

[Bruno]

http://www.cnbc.com/id/28046629

[mello]

I tried buying some gold coins 2 weeks ago. I called over a dozen coin shops & none of
them had any gold coins. I ended up ordering one of these from the U.S. Mint:

http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?storeId=10001&mpe_id=10104&productId=14708&intv_id=10054&evtype=CpgnClick&langId=-1&catalogId=10001&ddkey=ClickInfo

[Bruno]

I tried buying some gold coins 2 weeks ago. I called over a dozen coin shops & none of
them had any gold coins. I ended up ordering one of these from the U.S. Mint:

http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?storeId=10001&mpe_id=10104&productId=14708&intv_id=10054&evtype=CpgnClick&langId=-1&catalogId=10001&ddkey=ClickInfo

Is it as beautiful in your hand as it looks like it would be?

nm. says it ships in March.

[rockandrollsouls]

Ask Peter Schiff is he is taking profit or buying!

Schiff was also buying when it was very high when he could have, in theory, bough on the correction. And I like Schiff, but not all of his clients are doing so hot. There are ways to make money without being "super long term."

[qh4dotcom]

Peter Schiff, Gerald Celente, Citigroup and Google say gold will hit $2,000 later this year

http://www.google.com/search?q=%242000+gold+ounce+%2B2009&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a



Citigroup warns that the damage caused by the financial excesses of the last quarter century was forcing the world's authorities to take steps that had never been tried before. This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold.

[qh4dotcom]

Ask Peter Schiff is he is taking profit or buying!

He predicted it will hit $2,000 later this year...and he has also predicted that by the time Obama leaves office the Dow will be equal to 1 ounce of gold.

so I am sure he's NOT selling and taking a profit now

[qh4dotcom]

Bump

[forsmant]

The Dow nearly broke the bottom from six years ago today. From there the next support is somewhere in the 4000's. Gold at 2000$ seems pretty realistic now. A 2 to 1 ratio would signify a bottom.

[Cowlesy]

The Dow nearly broke the bottom from six years ago today. From there the next support is somewhere in the 4000's. Gold at 2000$ seems pretty realistic now. A 2 to 1 ratio would signify a bottom.

This post is not retarded.

[rockandrollsouls]

This post is not retarded.

Yea...rambling much?

Anyway, the fact of the matter is when you take everything into consideration and get the "inflation = increase in gold" thing out of your head, there are some reasons gold could back off a bit. What if there is another round of deleveraging? What if there is bear rally and gold is pushed down?

There's no doubt gold has intrinsic value and is good to keep, but I'm not sure if I'd be buying over $1,000 right now. I did, however, recommend a couple stocks that took off when gold was around $700, but not many people listened :rolleyes:.

Also, keep in mind Peter and Celente think this is going to be another great depression. Personally, I don't see that happening. I don't think this is it, and if you follow cycles the charts support this.

In conclusion, I wouldn't put all my faith in gold at the moment. I would, however, look for buying opportunities a couple of years down the road when we bottom.