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He said gold prices were expected to continue to rise in 2006 and it was not impossible to see gold spiking to $850 an ounce in 12 to 18 months.
Originally posted by Indy
Why the sudden rush to this precious metal? Something of significance is taking place. Is this a sign of a pending collapse of the global economy?
NEW YORK (Fortune) - Tom Barrack, arguably the world's greatest real estate investor, is methodically selling off his U.S. real estate holdings as prices drive the market to nosebleed levels. He likens the current real estate market to a game of polo. "I feel totally safe playing polo on a field full of pros," says the bronzed 58-year old. "But when amateurs are all over the field, someone can get killed. They have more guts than brains. They charge after every ball and don't know when to hold back." It's the same with U.S. real estate right now. "There's too much money chasing too few good deals, with too much debt and too few brains." The amateurs are going to get trampled, he explains, taking seasoned horsemen, who should get off the turf, down with them.
Says Barrack: "That's why I'm getting out."
Originally posted by anxietydisorder
I know gold went to almost $900.00 an oz. back about 25 years ago because of some scam being pulled by two brothers in Texas. (I think)
They were after the silver market, and while trying to corner that, they drove up the price of other metals. I think silver hit about $50.00 an oz. before it fell apart on them.