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Gold surges close to record high...

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posted on Sep, 16 2009 @ 10:59 AM
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Gold climbed to an 18-month high in New York and London on concern that a global economic recovery may stoke inflation and on a drop by the dollar that boosted demand for the metal as an alternative investment.

The worst U.S. recession since the 1930s has probably ended, Federal Reserve Chairman Ben S. Bernanke said yesterday. The U.S. Dollar Index slid to its lowest level in almost a year as a more optimistic economic outlook reduced demand for the currency’s relative safety. Gold futures are trading 1.4 percent below a record $1,033.90 an ounce set in March 2008.

“The inflation story has got people very concerned,” said Bernard Sin, head of currency and metals trading at bullion refiner MKS Finance SA in Geneva. “People are trying to move dollars into commodities, especially gold. The market is really concerned about the behavior of the dollar.”

Gold futures for December delivery advanced as much as $17, or 1.7 percent, to $1,023.30 an ounce on the New York Mercantile Exchange’s Comex division and traded at $1,019.50 by 8:36 a.m. local time. The commodity closed yesterday at a record $1,006.30, Bloomberg data show. Bullion for immediate delivery climbed 1 percent to $1,017.67 in London.

Silver advanced to a 13-month high, and platinum and palladium gained to the highest prices in a year.

Headed for $1,100?

www.bloomberg.com...

Regardless of all the mumbo jumbo hogwash spouted to the public from the politicos and financial criminals, it should be fairly obvious to anyone with a modicum of intellect that there has been and will be no recovery. The only way out of this quagmire is a system overhaul. The aforementioned folk are buying time with the sheep while the rest of us pray we are wrong.




posted on Sep, 16 2009 @ 11:10 AM
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And isn't it interesting that within the past year you're supposed to call a 1-800 number, get your "safe & certified" gold shipping package, and mail god knows who the gold you "don't need" for like 300 dollars?!
It's beyond ignorant to send that sort of valuable in the mail. Isn't it a rule of thumb that you're not supposed to mail cash!?
Unreal how people are handing over the more valued currency for the one currency that is slowly disappearing!
And really I firmly believe that these gold exchanges by mail are all owned by the same group of people, who it is, I am not sure, but it would make sense: how can we get the gold off the hands of the mass public so they have no real valued trade commodity once the dollar goes under?



posted on Sep, 16 2009 @ 11:10 AM
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I would not be suprised to see it 2000. Once everyone finds out the dollar aint worth diddly. It will climb fast, panic.



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