Gold Prices Rally on Safe Haven Buying. gold hit a new record of £767

chucky

kabayiri wrote: »

reminding people how they have missed the boat. I don't quite see that from those who choose a modicum of gold as an asset.

teasing and banter are obviously easily confused

Asheron

Gold going to $5000 an Oz, No one has missed the Boat.

kabayiri

chucky wrote: »

teasing and banter are obviously easily confused

Lol, yeah....but some do take the juicy worm bait when it's offered.

Houses being homes, can be quite emotive.

chucky

kabayiri wrote: »

Lol, yeah....but some do take the juicy worm bait when it's offered.

Houses being homes, can be quite emotive.

that is very true and some bite way too easy...

just like the ones that get emotional when you slag the conservative off

MrEnglish

Asheron wrote: »

Gold going to $5000 an Oz, No one has missed the Boat.

Many are saying there is more chance of gold going over $10K than stopping at $5K oz. I can provide link if you ask.

Kohoutek

Asheron wrote: »

Gold going to $5000 an Oz, No one has missed the Boat.

Maybe gold will make a big move up when central bankers welcome everyone aboard the QE II!

Kohoutek

JamesRoberts wrote: »

Bit of a newbie in here. As silly as this might seem, but is it just me that thinks that Gold is;

(a) Way overpriced?
(b) Surely due for a crash sooner rather than later?

What do you think it's overpriced compared with? Gold is basically an anti-dollar bet, or anti-fiat currency bet. With the gigantic amount of debt present at sovereign level in the West, I think further monetisation of debt is likely, which is bullish for gold.

The last time gold crashed dramatically was in the early 80s, when Paul Volcker raised US interest rates to incredibly high levels to combat inflation and lack of confidence in the dollar. It worked - but the Federal Reserve can't afford to raise rates to anything like 20% this time. Back then, America was still a creditor nation, now it's the biggest debtor nation in the world.

Perhaps if gold prices moved so high that it started destroying jewellery demand, then prices would be forced lower. But with economic conditions are precarious as they are, I think a crash is very unlikely. The Indian Central Bank bought a large quantity of gold when it was $1050/oz (or about) recently - they're no fools.

MacsReturns

do you have an update on this Asheron - is gold still rising?

Up to £848, last I looked

But it's not gold going up, it's sterling going down.

Got pounds?

http://www.businessinsider.com/jp-morgan-gold-now-could-face-unlimited-demand-2010-5

nollag2006

Sadly for gold speculators, they will be stung much harder by the proposed rise in CGT to 40%. No way for gold speculators to "flip" their asset.

Oh dear...

RDB

Kohoutek wrote: »

Maybe gold will make a big move up when central bankers welcome everyone aboard the QE II!

Do you mean Quantative Easing 2?