Gold holds near record, silver matches 30-year peak

Nice:

SINGAPORE (Reuters) - Gold ticked lower on Tuesday as speculators booked profits after sending the price to another record, but worries over Europe's sovereign debt problems and speculation the U.S. Fed will extend monetary easing helped cushion the fall.

Silver matched a 30-year high hit on Monday in volatile trade. Investors shrugged off news that China, the world's second-largest gold consumer, may raise interest rates this weekend, saying the move had been widely anticipated to cool inflation.

source

Bought some 50 ounces today and have bought in the past. If only I had bought more

Originally posted by Mdv2

Bought some 50 ounces today and have bought in the past. If only I had bought more

Dude, you made feel jealous and down for a moment. I only got a few grams of gold

reply to post by wisdomnotemotion


Haha, I forgot to mention that it is silver. I'm a student, not a millionaire.

So now would be a good time to sell....

Make a good profit!!

About two months ago I sold some of my silver just to see it go up in price in the same week!!!

From now on with the way things are going I'm holding on to all the silver and gold that I can!

reply to post by Mdv2


Nice?

Mostly it has to do with the fact that Europe just poured cheap money into Ireland, and then the US just did another astounding $600b bailout of... its self.

Nice?

It means the price of gas (petrol to you euros) is going to go up, up, and up .. probably within 2-3 months matching all time average highs..

And nice? ..

How about this being an indication that food prices are also about to hit record highs..

This is what we call "taxation without representation" .. government actions directly effecting the cost effectiveness of our paychecks while pouring money into their own operations.. Gold is simply the measurement of how hard us little guys are about to be !@$! in the coming months.

Merry Christmas though!

reply to post by Rockpuck


The system has to come down anyhow. Since you have been on ATS as long as I have, you should know that I have claimed this would come to happen ever-since. Some four years ago I started a thread about Bill Gates, saying "the good ol' dollar, it's gonna go down". Back then, Americans didn't believe me, tried to make me look like a fool. No, no, America has the biggest and strongest economy in the world, but I'm still around, they aren't.

I have urged my family to prepare and no, a system collapse is something I don't wish for, but better face it and be prepared than deny it and wait for SHTF and yes, it's nice to make a little profit on precious metals, keeping most as hedge when the whole thing comes tumbling down.

reply to post by Mdv2


No no, nothing against you mate, I'm just venting my frustration at our incompetent .. well no, they are competent.. our .. detached.. politicians and non-elected officials that are purposefully guiding us into a systematic decline while reserving further vast reserves of wealth to the upper echelons of society..

Gold hitting record levels is evidence to us that life is going to only get harder for average people.

Well I hate to say it my Americans friends, but there is a real possibility that the "Good 'ol Greenback" may be knocked out of the World Reserve Currency status. Of course this will be horrible for the World but even more so for America. Your dollar is about to decline abruptly. I will wager that the US dollar could lose 20% of its value by this time next year perhaps even more. The Chinese are dumping as much as they can without totally wrecking the dollar and many other countries are as well.

With the Euro in trouble also, precious metals like Gold & Silver are a safe bet to hold onto for the foreseeable future. You can't lose by holding onto these precious metals. Just make sure you take physical delivery and do not keep it in a bank.

If Pension Plan laws weren't soo retarded, I would take every penny I have in my Pensions($22000CDN) and put it all into Gold & Silver. By the time I retire in 30 years I would have made a ton more money than keeping it in the PONZI scheme Pension Plan system. With Central Banks creating asset bubbles every decade that hit pension plans on average for about 15-20% losses. The money you put into them is hardly worth the long term results. If I put in $10 000 right now by the time I retire I'll have lost between 45-60% of my original investment.

Precious metals only go up over the long term, with 2 major currencies in their death throws Gold & Silver will only go up as investors look for safe havens.