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Thread: Expert: ‘People Are Warming Up to Hoarding Gold’ as Prices Soar

  1. #1

    Expert: ‘People Are Warming Up to Hoarding Gold’ as Prices Soar

    Gold futures rose to a record for the ninth time this month as a weakening dollar boosted investment demand for the precious metal as an alternative asset. Silver topped $45 an ounce for the first time since 1980.

    Gold reached $1,506.50 an ounce in New York as the dollar slipped as much as 1 percent against a basket of six major currencies to trade at a 16-month low. Gold has risen 32 percent in the past year as the dollar fell 8.2 percent. Earlier this week, Standard & Poor’s revised its long-term outlook for U.S. debt to negative from stable.

    “For the dollar, the S&P statement was like getting kicked when you’re already down,” said Matt Zeman, a senior market strategist at Kingsview Financial in Chicago. “The dollar is losing its status as the king of the hill, and gold is looking to take its place.”

    http://www.moneynews.com/Headline/Go...4/20/id/393496



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  3. #2
    the gov't should step in and confiscate from people who are hording because it's not fair

  4. #3
    Quote Originally Posted by shemdogg View Post
    the gov't should step in and confiscate from people who are hording because it's not fair
    Now the question arises, what constitutes hording? Would a person with a box of chocolate candy bars, be considered hording chocolate?
    Now if that is a box of gold coins, does that make a difference?

    Is two ounces hording, perhaps 3 or 4.... where do we draw the line?

    LOL



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