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Gold hits $600. Silver at $13

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posted on Apr, 11 2006 @ 10:10 AM
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The price of gold has hit $600 for the first time in 25 years. Silver is at $13. Both have increased substantially since mid-February of this year when gold was at $540.


Here is the 60 day gold price

Here is also the lates silver price chart: Silver weekly price chart

You will see on the charts that gold and silver have taken an exponential turn upwards in recent weeks.

 



business.scotsman.com
Gold hit $600 an ounce for the first time since 1980 and copper stormed to a record of $6,001 a tonne on Tuesday as investment funds scrambled for alternatives to stocks, bonds and foreign exchange.

With oil surging through $69 a barrel and the dollar tipped for another bout of weakness, funds have flocked to gold and other commodities.

Gold, which has gained 16 percent this year and 41 percent in the past 12 months, touched $604 an ounce -- its highest since December 1980 -- before easing to $599.25/600.00 by 1029 GMT. It traded at $598.80/599.60 in New York on Monday.


Please visit the link provided for the complete story.


So what is going on here? There have been lots of speculation that an immense increase in the price of precious commodities is due to the dollar being in danger and the fear of the possible scenario of it's immense inflation. Furthermore, the gold and silver prices have in history shown to be indicators of upcoming economical and political uncertainty.

My advice is to stock up on gold and silver, because the economic experts are expecting precious commodities to rise even more. Silver is expected to rise to over $30 in the future! Or perhaps even more do to there being a serious shortage of pure silver in the market.

And last but not least, there's the French Chevreux Gold report that indicates that the price of gold has been manipulated for years.

Cheuvreux Gold Report (.pdf file)

By whom? I think that would be a good question to ask...

Related News Links:
news.google.com
www.bloomberg.com
prudentinvestor.blogspot.com
prudentinvestor.blogspot.com

Related AboveTopSecret.com Discussion Threads:
Beginning of major world crisis?
The Plunge Protection Team...

[edit on 11-4-2006 by TheBandit795]

[edit on 11-4-2006 by TheBandit795]




posted on Apr, 11 2006 @ 10:54 AM
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Btw... the rising commodities prices also relate to the cancelled M3 publishing.



posted on Apr, 11 2006 @ 10:59 AM
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What's the stock symbol for Silver? And for Gold?

Let Me know, either here or U2U.



posted on Apr, 11 2006 @ 11:07 AM
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doesn't matter to me, I only wear platinum, jk.



posted on Apr, 11 2006 @ 11:18 AM
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People were saying BUY gold and silver when they were at 400 and 4 respectively. The folks who followed that advice are doing quite well now. They'll be doing even better if they can hold on to any of it for longer than five minutes.

Land is quite hot too. Existing homes in good shape with acreage and privacy are getting hard to find, and the demand remains high. New homes on the other hand, those cookie cutter pieces of crap thrown up in fashionable, artificial neighborhoods, their values are falling to earth as noisily as a bird on fire.

Those places will be ghost towns if another depression hits.

The spectre of hyperinflation is getting more substantial by the day...

Our money isn't WORTH anything in America. It has no value except as a medium of exchange, and mediums of exchange depend entirely on supply for relevance. Cash, especially American dollars, are a TERRIBLE investment, even more so now that it appears the fed is intent on torpedoing the value of the dollar. I would rather spend money on gravel, or water, or peanut butter, or wooden barrels. All of those are guaranteed to still be saleable in 6 months time.

The same can't be said for money...

Who want to be that guy in a dusty suit and loose, limp tie, with a briefcase full of neatly stacked bills, trekking across the country trying to find someone who'll trade him a mule or an apple for his millions?

Not me, man, not me. I'd rather be the guy with the apple tree.



posted on Apr, 11 2006 @ 11:52 AM
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Who's going to buy all your gold and silver if your dollars are useless?

And don't sell your peanut butter, even if you can get $600.00/kilo for it, you will need that stuff (it's good on toast, 30 bux a slice).

The gradual conversion of the Dollars to Euros for oil trading plays a big part in this too, the M3 thing is an attempt to hide the slide.

US $$$'s seem to be a bad investment, who knows how bad the fall will be?
People in the know are buying gold for this reason, gold is backed by 100%, well, pure gold. But I'll repeat, who's going to buy your gold, with whose money?

Peanut butter taste's better on toast anyway, gold being a bit tough and tasteless, unless of course you pound'er down into leaf, don't forget the real butter to buffer the toast/PB barrier.



posted on Apr, 11 2006 @ 12:18 PM
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Two things are primarily responsible for the upsurge in gold prices. The most important factor is the uncertainity in the oil market and this is also reflected in the 2nd most important factor, the situation with Iran.

Events in the oil market may well cause a devaluation of the U.S. dollar to perhaps as low as around 75% of its present value. Should that happen, economic changes around the globe will be substantial. One of the easiest to predict is the certain rise in the value of the Chinese Yuan by perhaps as much as one third.

Think for a moment what those changes would mean and how they would effect other nations.



posted on Apr, 11 2006 @ 12:42 PM
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Originally posted by SpartanKingLeonidas
What's the stock symbol for Silver? And for Gold?


I think it's XAU for gold and XAG for silver.



posted on Apr, 11 2006 @ 02:20 PM
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Bandit, I'm sorry to have ranted all over your thread in my earlier post. I can get a mop and clean that up if you'd like.


It's a very interesting topic, I hope I'm not derailing it.

Toadmund


Who's going to buy all your gold and silver if your dollars are useless?


Well, for starters, you would be hard pressed to find a market where gold was plentiful, and that's a big part of what makes it valuable. Very few people have gold, in any significant quantity.

It's been that way for thousands of years, I think betting against that sort of precedent is unwise, at least, it's unwise in the absence of other indicators. So, let me ask you a question. Do you have any theories on how gold could lose its percieved value, despite its rarity and aesthetic appeal?

The most memorable thing about the depression, for me anyway, when I read about it and talked to people who lived through it, was the soup lines. The total, infantile dependence of the masses upon the kindness of churches and the government.

The people were in NO position to question authority, as they were completely reliant on it for their daily bread. One thing you didn't see, during the depression, were loads of people lined up, with gold weighing down their pockets, still unable to find a decent meal.




And don't sell your peanut butter, even if you can get $600.00/kilo for it, you will need that stuff (it's good on toast, 30 bux a slice).


Yeah, I'm definitely on board with a strong buy reccomendation for both chunky and creamy-with-jelly-swirl-deluxe commodities.





posted on Apr, 11 2006 @ 04:29 PM
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Black pepper and other spices make excellent money. once black pepper was more expensive than gold. The smart thing to do is buy your gold and silver now, wait until there is good hyperinflation and use that ounce of gold to buy a ton of black pepper,soap, or jiffy penut butter. Then when those commodities are valued more than gold you trade an ounce of soap or pepper for an ounce of gold.



posted on Apr, 11 2006 @ 04:42 PM
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~~

At only $600.oz
the value of Gold needs to be utzed up to $750-1000. right now!

I'm fuzzy on things, and the value ratio of 1oz Gold is supposed to
be able to buy an Investor/Businessman Entrupener a high-end suit
, something like Donald Trump would wear.

Theres also a formula concerning the value of Gold to bbls of Oil
...i can't recall the exact mumbers in the equasion, but the Talking-Heads
on TV finance shows say that with Oil @ $60.bbl
then Gold should be valued at $1200. oz.

~~~~~~~~~

SpartanKingLeonidas, there's a slew of Gold indexes and Exchanges
and even a Gold ExchangeTradedFund =ETF
if you click: biz.yahoo.com...
you can see a glut of Gold stocks...maybe just change the URL address to other precious metals-ores to get further lists

~~~~~~~~~~

with the gold fever, has anyone else here joined in the 'Squawk Box'
fantasy portfolio contest.?
a freebee where you get $1,000,000.oo fantasy bucks & have 7 more weeks to accumulate wealth...i'm busy amassing Gold Equities
www.sbfantasyportfolio.com/



posted on Apr, 11 2006 @ 07:04 PM
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It may be better to buy US gold eagles. You don't have to pay tax on them
when you sell. its becuase they are considered currency.



posted on Apr, 11 2006 @ 09:34 PM
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Well people, seeing as the US is the second largest producer of gold in the world, if there were an economic deperession, I doubt it would affect too much the US. All of the supplies we presently have would still be available. The cash system will just super-inflate. Oil, spices, electronics, dyes and other luxury commodoties will be purchased with gold by the corporations, but the consumer will be forced to pay super-inflated cash prices. Perhaps if we buy gold now we could be trading it for supplies without having to work hard for all that cash.



posted on Apr, 11 2006 @ 11:04 PM
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Originally posted by TheBandit795

Originally posted by SpartanKingLeonidas
What's the stock symbol for Silver? And for Gold?


I think it's XAU for gold and XAG for silver.


Thanks dude. I'm going to go buy some Silver while it's dirt cheap, and then wait for Gold to hit rock bottom...eventually.



posted on Apr, 12 2006 @ 12:00 AM
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More precious metal quotes here:
www.kitco.com...

Barclay's silver ETF (stock symbol: SLV) opens tomorrow, rumor has it they don't have the actual silver in the vaults yet (silver shortage) and thus their exchange price could take a short term hit,BUT should outpreform gold percentage wise...once it gets all rolling.

The Coming Silver ETF







[edit on 12-4-2006 by Regenmacher]



posted on Apr, 12 2006 @ 12:02 AM
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I like walking silver myself. 1964 and earlier is generally 90% pure and can be bought for bullion prices plus maybe a bit of premium. I expect silver to be around 100 dollars an ounce before this uptrend ends, but I'm just an amatuer so don't take that as investment advice. It just makes sense to have a backup of real currency, regardless of what the price is or where it's headed, right?

In any case, it seems logical to me that the form of the gold or silver you use should be:

1: in denominations that are divisible. [Sure you could trade a golden eagle for a crapload of peanut butter and whatnot, but I think it's more likey I'll be transacting with average humans on a smaller basis. Kennedy quarters seem to be the best bet.]

2: Recognizable as valid by others. [I like the way walking silver clinks and feels, and I think it'll be more easily used for day to day transactions. I think gold-plating will become common and suspected coins accepted less.]

Good thread!



posted on Apr, 12 2006 @ 05:27 AM
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silver had adjusted back down.......guess $13 was a bit overvalued.

still though, I think it about doubled in value over the last year. the reason some are suggesting that we invest in it is that industry demands for it seem to be rising more than the mining operations can handle. kind of like another version of peak oil, only not as extreme.

it's a nice cheap investment venue of those of us who aren't rich enough to get into the other markets and want some tangible for our worthless paper money!! stocks are just paper also.... the value is based more on speculation that anything. this might be true with metals also, but well, if things go bust, I can at least melt that down, make some pretty jewelry and trade it for some bread and eggs.



posted on Apr, 12 2006 @ 11:47 PM
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Do you have any idea of what the potential is for silver??
DO You realize that silver is one of the smallest markets in the world. in fact the entire capitalization of the silver market is less than 10 billion dollars. GM has a capitalization of 300 billion dollars. The market is so small that the hunt brothers cornered it before the feds rushed in and shut them down. This is a once in a lifetime opportunity to buy silver dirt cheap.



posted on Apr, 13 2006 @ 12:55 AM
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Originally posted by smallpeeps
1: in denominations that are divisible. [Sure you could trade a golden eagle for a crapload of peanut butter and whatnot, but I think it's more likey I'll be transacting with average humans on a smaller basis. Kennedy quarters seem to be the best bet.]

Duhh, I meant Kennedy halves of course. pre-1964 Washington quarters are 90% silver too, I think.

I agree on silver. I am buying more each month. Also I am saving my FRNs to wipe with.



posted on Apr, 13 2006 @ 02:06 AM
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Err guys a small and probably ignorant question. Everyone goes on about gold being great becuase even if something went very wrong and money lost it's value you can trade your gold right?

Well in 1933 in the USA didn't gold become prohibited to own? I thought they confiscated a load of it?

I am probably wrong but i thought that happened in the depression, think it was roosevelt who signed the form/law or whatever it's called there. I may be wrong so someone who knows more please speak up, shouldn't be hard to find someone lol.



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