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CNN News! Dump the dollar! Buy gold!

Asheron
Asheron Posts: 1,229 Forumite
edited 25 November 2009 at 8:06PM in Savings & investments
U.S. gold futures hit all-time highs above $1,180


http://money.cnn.com/2009/11/23/pf/dollar_gold.fortune/


Don't forget that....Gold and Silver is the only real Money in the world, don't be left holding Paper when this thing blows up.
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

  • Mortgage_&_debt_free
    Mortgage_&_debt_free Posts: 316
    Part of the Furniture Combo Breaker
    Forumite
    Brilliant! Buy high and sell low, I can see no problem with this at all.
  • Aegis
    Aegis Posts: 5,695
    Part of the Furniture 1,000 Posts Name Dropper
    Forumite
    Amazing that we rarely see the counter arguments, like the ones from Capital Economics which state their belief that gold is currently in a bubble and is likely to fall back to sub $1000 over the next couple of years.

    There are opinions on both sides of this one, so it's very important that people realise that investing in commodities is NOT a guarantee of growth or wealth preservation at all, and if there's a drop they won't even have the consolation of holding an asset which produces income.

    Personally I'm still staying well clear of this except through general commodity funds and natural resource equities.
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • Asheron
    Asheron Posts: 1,229 Forumite
    I will let you know when Gold hits $1500 an Oz
    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.
  • amcluesent
    amcluesent Posts: 9,425 Forumite
    LOL. Popular press ramping, looks like a top signal to me.
  • Blah99
    Blah99 Posts: 486 Forumite
    Gold? More like fairy liquid based on the size of this bubble.
    Mmmm, credit crunch. Tasty.
  • sabretoothtigger
    sabretoothtigger Posts: 10,038
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    Bit late isnt it ?

    Contrarian signal for sure. Why is it in March when they announced they would print money, the price of gold goes down. Right now, the Fed has said they will wind down their QE operation and now is the time to buy gold?
    No I dont think so, long term maybe but its a rubbish tip as always
  • DUS
    DUS Posts: 184 Forumite
    Asheron wrote: »
    I will let you know when Gold hits $1500 an Oz

    LOL. See you below 900 within the next 6 months! Enjoy the ride south! :p

    DUS
  • tradetime
    tradetime Posts: 3,200 Forumite
    Whilst I am far from a gold bug, I see it as a commodity just like any other, though with its own quirks, I think it would be hard to classify it as a bubble here. I think that has become a popular and overused phrase. Over extended? Yes. Due for correction. Probably, but a long way from a bubble. Smart central banks should underpin the price diversifying away from the US$, which I'd guess would put a floor under it at $1000. Personally I much prefer silver, which I do hold, and would be a buyer on any significant pullbacks.
    Hope for the best.....Plan for the worst!

    "Never in the history of the world has there been a situation so bad that the government can't make it worse." Unknown
  • cloud_dog
    cloud_dog Posts: 6,469
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Forumite
    Ah, the voice of reason:T
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • bendix
    bendix Posts: 5,499 Forumite
    I think someone needs also to point out to Asheron that it is only a nominal all-time high and it remains around 40% below it's inflation adjusted all-time high which occurred in the mid-1980s.

    People buying at the last 'all-time' high a quarter of a century ago might not be as enthusiastic as poor old Asheron.
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