My guess is Ft. Knox is flooding the market back door to try and keep it down. I can see this hitting $1,500+ Oz within a month if this stays on course of the past week. I see no reason why it is not there now except a secret infusion of gold from the government stockpiles.
Methinks your logic is flawed on this one... The US economy is underwritten by the global price of gold, hence the "federal reserve".... supply and demand dictates that less gold available and increased demand maintains higher prices...higher prices means stronger dollar, why would they "flood the market" in an effort to reduce the price of gold ??..
They (not just the USA) would flood the market to try their best to keep stability of the world in place. If the price of gold flies higher, it will be another LEI of instability. I do not think they are trying to reduce the price of gold per se, but keep it stable. I know for a fact some entity is dumping IN MASS right now and yet the price is still going up. I vehemently disagree that the US economy is underwritten by the global price of gold. I think it was Nixon who even took us off the gold standard, but the coorelation to gold isn't there. My point is that in times of instability and uncertain economies, gold is forever and I believe it will fly higher. My worthless $.02
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Now that the prices of virtually everything are going up and up and now that thousands of people are losing their jobs everyday as the US goverment still hands out 10,000+ checks to those people just getting off the boat, I think I will take a boat ride and get in line, I sure could use the money to pay for the gas in my Viper and GTO!
bought gold in 2003 & 2004...conact George Cooper at USAGold.com...tell him Carlo refered you.
our currency isnt back by gold and hasnt been for nearly 40yrs. Gold is a hedge against inflation and the debasment of our currency. I recommend 10% Gold holding for all my clients. You can hold the bullion if you like or have housed in a pool at a vault, I would take the former.
there is no correlation between gold and the amount of money we can print.
I want to publically thanks Viper Spray for a PM to me to help me with a purchase I made in his local town. Short story is the vendor didn't ship $9200 in physical gold and Mike offered to pick it up for me and ship it and anyhow I just wanted to say thanks to him. What is really kewl is that some of you I know in person, some I chat with, some I don't know for shit other than seeing your posts and anyhow Mike and I never chatted before and it was very good. I know I could trust him because he has a lot of rep Anyhow, I got a refund from the vendor and I am purchasing more gold locally. Gary
Hope you didn't buy last week Gary..though Sods law dictates you did.
No, but I bought $87,000+ worth of Pan American Silver Corp (PAAS) which does silver and gold. I cancelled the gold purchase, but actually not worried about the rise even if I did. I am getting more confident on precious metals as I see the end of the world as we know it. I think we should all buy gold, silver and lead-lots of lead I am not even laughing, but I see no end in sight here unfortunately. Economics apply of course, but the book of reason is gone and all equations are henceforth null and void untilw e get stable, but I said it a month+ ago on the Alley in one of my posts, I see the DJIA hitting 7200. I also bought ADP (ADP), NVIDEA (NVDA) and Panara Bread (PNRA) for about $200K total. I bought and sold GM quickly, too risky for me and lost $758, but it was bothering me, so just dumped it. My real $ is in my business inventory and that I am thinning out as sales start to slow a bit, but thius far we are doing okay-thank God. I am looking at a GEN III with a SC for $40-$45K if I can get a good one and yes, I suck, but why not take advantage of the market. I NEED MORE GARAGES!
Anyhow, I got a refund from the vendor and I am purchasing more gold locally. Gary
I am not even laughing, but I see no end in sight here unfortunately. Economics apply of course, but the book of reason is gone and all equations are henceforth null and void untilw e get stable, but I said it a month+ ago on the Alley in one of my posts, I see the DJIA hitting 7200. I also bought ADP (ADP), NVIDEA (NVDA) and Panara Bread (PNRA) for about $200K total. I bought and sold GM quickly, too risky for me and lost $758, but it was bothering me, so just dumped it. My real $ is in my business inventory and that I am thinning out as sales start to slow a bit, but thius far we are doing okay-thank God. I am looking at a GEN III with a SC for $40-$45K if I can get a good one and yes, I suck, but why not take advantage of the market. I NEED MORE GARAGES!