U.S. gold hits $1,000 record high

U.S. gold hits $1,000 record high

biz.yahoo.com

NEW YORK (Reuters) - U.S. gold futures rallied to a record high of $1,000 an ounce on Thursday, fueled by a combination of a weakening dollar, strong investment demand and inflation fears due to rising crude oil prices.

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Yay! I mean how horrible. Seriously though hang onto your gold. Don't be like all the dingbats out there selling their gold to pawn shops. The price is more than likely going to go higher. Plus Silver is hovering around $21/ounce. These may be the only viable "money" left in the near future until things recover. Basically the Dollar will eventually be like Rubles and Pesos, but Gold and Silver will still have value.

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I don’t believe that it’s a record yet if you adjust for inflation, but your point is well taken. I too believe that the plummeting dollar makes any precious metal a good hedge right now. Hell, the copper in a penny is worth 1.9 cents! Can you say Weimar Republic?