Gold Tops $1,200 in New York as Dollar Declines; Silver Surges

Asheron

Dec. 1 (Bloomberg) -- Gold jumped to a record above $1,200 an ounce in New York as the slumping dollar spurred investor demand for an inflation hedge. Silver rose to a 16-month high.

Gold climbed as the U.S. Dollar Index fell after China’s manufacturing grew at the fastest pace in five years. The Reuters/Jefferies CRB Index of 19 commodities rose to a five- week high, led by silver, cocoa and energy. Morgan Stanley and BlackRock Advisors LLC increased their gold assets in the third quarter, U.S. filings show.

“There’s investment demand for gold from everywhere,” said Frank Lesh, a trader at FuturePath Trading LLC in Chicago. “The dollar has pushed gold to new highs. Gold is in an uptrend and there’s no sign whatsoever that the trend will stop.”

Gold futures for February delivery rose $16.30, or 1.4 percent, to $1,198.60 an ounce at 12:29 p.m. on the New York Mercantile Exchange’s Comex division, after earlier touching a record $1,204. In London, gold for immediate delivery reached an all-time high of $1,201.63.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aB12Fl_1909c

Asheron

Gold and Silver are all you can rely on.

Every Paper Currency Falls to Its Intrinsic Value: Zero

ses6jwg

!!!!!! pls thnx

tradetime

Hehe, got to hand it to you, you don't cut corners, you do the full nutjob package
Now I wonder if starting countless threads on the same topic, could be counted as spam?
Only one way to find out I guess.

DiggerUK

Asheron,
Do you share my opinion that goldbugs are 31 grammes short of an ounce.

Dopple

I have quite a bit of cash in U.S dollars for Sportsbook purposes, but am concerned about the weak dollar. Would investing in Gold be a good counter-balance as it seems that Gold goes up when the dollar weakens?

Biggles

Spam button ticked.

Asheron

Dopple wrote: »

I have quite a bit of cash in U.S dollars for Sportsbook purposes, but am concerned about the weak dollar. Would investing in Gold be a good counter-balance as it seems that Gold goes up when the dollar weakens?

Hello Dopple,

I have had a very hard time trying to convince people here to protect there wealth.

Yes, do as much research as you possibly can online regarding Gold and Silver, but remember if you don't hold it, you don't own it.

Lokolo

Asheron wrote: »

Hello Dopple,

I have had a very hard time trying to convince people here to protect there wealth.

Yes, do as much research as you possibly can online regarding Gold and Silver, but remember if you don't hold it, you don't own it.

That didn't answer his question tbh.

talana

Yes, I don't get why you post umpteen variations on the same topic over and over and over again.
It's not like you're adding anything of substance each time.
Whether we're into gold or not, we get the message!
Enough already!

bendix

Asheron wrote: »

Gold and Silver are all you can rely on.

Every Paper Currency Falls to Its Intrinsic Value: Zero

Really? Every paper currency? That's a bit alarming. Has anyone told the world's central bankers? I think it might be wise if you advised them on this key point - they might be intersted.

I have a question for the forum management. Is it against the forum's rules to call someone an idiot when they are palpably behaving and posting like an idiot? (Not that a would, of course - it's a purely rhetorical question).

:rolleyes: