View Full Version : Gold hits $1,300/oz
brandon
09-24-2010, 08:47 AM
http://www.kitco.com/reports/KitcoNewsSeptember242010_am.html
I can't understand why the price of gold keeps changing because I thought it's value was intrinsic? :confused:
specsaregood
09-24-2010, 08:52 AM
http://www.kitco.com/reports/KitcoNewsSeptember242010_am.html
I can't understand why the price of gold keeps changing because I thought it's value was intrinsic? :confused:
Does value == price?
Does intrinsic == stable/doesn't fluctuate?
brandon
09-24-2010, 08:56 AM
Does value == price?
Yes price is a way of quantifying value.
Does intrinsic == stable/doesn't fluctuate?
Yes.
Dr.3D
09-24-2010, 09:00 AM
http://www.kitco.com/reports/KitcoNewsSeptember242010_am.html
I can't understand why the price of gold keeps changing because I thought it's value was intrinsic? :confused:
It's not the value of the gold changing, but rather the value of the currency used to price it.
specsaregood
09-24-2010, 09:04 AM
Yes price is a way of quantifying value.
It is "a way". Ever heard the term "priceless". Would that not be something where price can't accurately measure the value?
Yes.
I looked up the definition of intrinsic, it didn't say anything about it being stable or unfluctuating. :confused:
brandon
09-24-2010, 09:05 AM
http://www.weblinks247.com/indexes/2a-kgdx-usd.gif?random=0.44091796875
http://www.kitco.com/kitco-gold-index.html#RT
TheBlackPeterSchiff
09-24-2010, 09:56 AM
It's not the value of the gold changing, but rather the value of the currency used to price it.
Zinger!
Bruno
09-24-2010, 09:59 AM
naysayers?
<crickets>
Acala
09-24-2010, 10:26 AM
naysayers?
<crickets>
Nay.
All your gold is tungsten.
:D
ClayTrainor
09-24-2010, 10:43 AM
Bought in at 900ish. :D
Bruno
09-24-2010, 11:02 AM
Nay.
All your gold is tungsten.
:D
You are confusing me with Fort Knox. :eek:
brandon
09-24-2010, 11:20 AM
Bought in at 900ish. :D
Same. 44% gain in two years for me. Not too bad. I don't plan on riding the wave too much longer though. Maybe another year or so.
Reason
09-24-2010, 11:21 AM
YouTube - Gold Hits $1,300 An Ounce (http://www.youtube.com/watch?v=rD9YoRjL4QI)
lester1/2jr
09-24-2010, 11:25 AM
nuts. for a shiny piece of metal that in a saner world was 20 dollars/oz. I also have some and am certainly glad I do. and that I didn't get it from Goldline my condolensces to all that got taken by those shysters
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