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The London gold fixing or gold fix is the procedure by which the price of gold is determined twice each business day on the London market by the five members of The London Gold Market Fixing Ltd, on the premises of N M Rothschild & Sons. It is designed to fix a price for settling contracts between members of the London bullion market, but informally the gold fixing provides a recognized rate that is used as a benchmark for pricing the majority of gold products and derivatives throughout the world's markets. The gold fix is conducted in United States dollars (US$), Pound sterling (GBP), and the euro (€) daily at 10.30am and 3pm, London time, via a dedicated telephone conference facility.
Originally posted by Atlantican
I'm positive it will be back below $1000 by this time next year and bounce between $750 and $1000 for a year or two. Then it's either down down down or up up up.
I wouldn't buy ANYTHING right now. Feed yourselves and your families. Greed is not going to work out for anyone the next while.