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Gold Hits $1,000
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Asheron
Posts: 1,229 Forumite
Gold futures rose above $1,000 an ounce on Friday as jittery investors turned to the yellow metal to preserve wealth amid a tumbling stock market.
Long-term inflation worries fanned by the massive U.S. economic stimulus package signed into law by President Barack Obama this week has driven investors into gold, which is perceived as the most likely asset to hold its value if the dollar starts weakening.
“I think there’s a little bit of panic out there. Equities are setting new lows and gold is the place to run to. I don’t think there’s much more than that,” said Robert MacIntosh, chief economist at Eaton Vance in Boston.
U.S. gold reached its highest level of the past seven months.
Gold futures for April delivery on the COMEX division of the New York Mercantile Exchange rose $17.70 to $994.20 an ounce at 10:32 a.m. EST. They rose to a session high of $1,000.30, their highest level since July 16.
Read entire article
Long-term inflation worries fanned by the massive U.S. economic stimulus package signed into law by President Barack Obama this week has driven investors into gold, which is perceived as the most likely asset to hold its value if the dollar starts weakening.
“I think there’s a little bit of panic out there. Equities are setting new lows and gold is the place to run to. I don’t think there’s much more than that,” said Robert MacIntosh, chief economist at Eaton Vance in Boston.
U.S. gold reached its highest level of the past seven months.
Gold futures for April delivery on the COMEX division of the New York Mercantile Exchange rose $17.70 to $994.20 an ounce at 10:32 a.m. EST. They rose to a session high of $1,000.30, their highest level since July 16.
Read entire article
As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.
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Comments
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please stop rubbing it in now, anyone want to ban gold posts
only joking!0 -
It's going much high-er way over $2,000As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.0
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I hate the pain some people are feeling right now, but some people never listened.As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.0
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As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.0 -
................... Since when was $1700 much higher over $2k?
...and the thread is two and a half years old. Wait for long enough and it is likely to happen.
Still waiting for oil to reach $200 a barrel as was forcast in 2008 by Goldman Sachs when it was just breaching $100 for the first time. Will probably happen one day....Living for tomorrow might mean that you survive the day after.
It is always different this time. The only thing that is the same is the outcome.
Portfolios are like personalities - one that is balanced is usually preferable.
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2000 is possible this year but I'd rather governments just turned all deficits to zero . South Korea just bought 25bn worth, 10% of their foreign reserves I think. There is still new buyers to the market even at this price apparently
The miners are way too cheap but so is alot of useful companies0
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