Gold hits record high

Gold hits record high

money.cnn.com

Gold prices settled at a new record high on Tuesday, as unrest in North Africa and the Middle East pushed the safe-haven commodity north of $1,430.

April gold futures rose $21.30, or 1.5%, to settle at an all-time high of $1,431.20 an ounce.

Tuesday's record high is not adjusted for inflation. If adjusted for inflation, gold's record price is much higher.

Investors rushed to gold as unrest in the key oil producing state of Libya continued to rage, and reports from Iran indicated large numbers

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Gold and Silver Break Key Resistance Levels

Not too long ago, gold broke a key resistance level and is now at it's all time high. I just wanted to share this on ATS since there are many like me that invest in precious metals, and there are those that don't think it's the wisest thing.

As the price of food and oil rise, and they keep printing greenbacks, gold will keep rising. Gold is reaching the point of being unaffordable for many Americans and people worldwide.

The previous gold high was 1423 $ per ounce, and today it closed at 1430$.

money.cnn.com
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Now would be a good time to start investing in precious metals, As this is most likely due to the inevitable fall of the us dollar..

reply to post by TechVampyre


Agreed. Of course now it's nearly impossible. An ounce of silver costing over 30$, and gold well 1400 is very expensive. Just 2 years ago Silver was 14$/ounce and gold about 950$. The dollar sucks. Only a matter of time until the dollar collapses and they offer us a new system, maybe the Amero.

[atsimg]http://files.abovetopsecret.com/images/member/19fa1a2f5283.png[/atsimg]

reply to post by BenIndaSun


Unfortunately,most of us have missed our chance to cash in on the gold rush.. But I have a feeling that if we don't start acting soon, We will ALL regret our procrastination.. The us dollar , and the entire economy is completely collapsing. This may be our last chance to "buy our way out" so to speak.

reply to post by TechVampyre


Way Ahead of you Dude, Got 34 Solid Gold ingots and Because someone on Ebay was selling s platinum Ingot extremely cheaply because they didnt have any idea what it was i now have one of them too.

*Ted Carreses his shiny metal Bits and Hum's to them*

Originally posted by TedHodgson
reply to post by TechVampyre

 

Way Ahead of you Dude, Got 34 Solid Gold ingots and Because someone on Ebay was selling s platinum Ingot extremely cheaply because they didnt have any idea what it was i now have one of them too.

*Ted Carreses his shiny metal Bits and Hum's to them*

Good man..!

Couldn't resist saying this; the price is high because there is an outsourcing demand. Nibiru is coming and with that planet on the way the Annunaki tribe is wanting their gold. That's why the government is paying such a high trade-in value!!!

reply to post by greenfox83


The Annuaki will have a hard time getting my Gold, If those Dog-Headed-dodgy-Opressive-Planet Bobbing-Doomsday bringing-Facists Come Anywhere near My Gold i swear down i will throw Tea-Spoons out the window at them and Shout Degrading Remarks till they are so Embarrased they leave.....

Originally posted by greenfox83
Couldn't resist saying this; the price is high because there is an outsourcing demand. Nibiru is coming and with that planet on the way the Annunaki tribe is wanting their gold. That's why the government is paying such a high trade-in value!!!

lol! I was actually remembering someone telling me this ALONG time ago. said the wealthy and elite will setup a financial situation in where everyone will be forced to sell thier gold. and once they get enough stockpiled, they'll have enough to fix thier (anuunaki) atmosphere. never paid any attention to such a rediculous claim, till one day somebody posted a write-up on 200,00 yr old gold mines found in africa.

I am the proud owner of (1) krugerrand...lol that is the extent of my gold reserves... I've been collecting lead filled copper I think If people have the means,& they want to buy gold they should be buying cheap tangible gold like , rings , chains ets... It will be easier to liquidate or barter later & would give you the most bang for your buck, you're going to want to have quantity not quality of gold. If things get really bad , It would be hard for me to find someone locally who #1 knows what a krugerrand is and #2 would be willing to pay me fair market value for it. Silver wouldn't be a bad investment either.

reply to post by EyesWideShut


Ill give you £930 For it

Im assuming its The 1oz Srandard?....

reply to post by BenIndaSun


I am so back and forth on the whole gold investment thing. If it were not illegal in the US to physically keep the gold you purchase I would be more inclined. Because of this fact, I am suspicious as to wether the gold on paper even exists. Just saying. I just can't come to terms with trusting that particular system. Five years or so ago, maybe, but not today.

Besides what will happen if the dollar collapses or some disaster emerges? What will I do with gold, physical or paper? I just do what I have to do to survive. Stock up on as many necessities as possible and hope for the best. It is so expensive I can't even afford it anyway. And 1400$ would buy a lot of food water and supplies. I feel I can count on those things.

If tshtf, honestly I would be willing to trade anything I have for honest help and community. Gold would be even more worthless to me them...can't eat it, can't drink it, doesn't keep me warm.

I commend those of you with the means and for site to do what you see necessary, I just can't seem to wrap my head around the concept for now. I wish you all the best.

I just wonder how many people can eat gold. Why in the world would people want to buy something that was at it's highest price in history. You people can't figure out that they are just out trying to take your money away from you? Things like this runs in cycles with highs and lows, we are at a high right now and one day before long, we will be at a low. Then who will have all the money?

Originally posted by MBF
I just wonder how many people can eat gold. Why in the world would people want to buy something that was at it's highest price in history. You people can't figure out that they are just out trying to take your money away from you? Things like this runs in cycles with highs and lows, we are at a high right now and one day before long, we will be at a low. Then who will have all the money?

It seems to me you do not understand that MONEY has no value any more. The time with the highs and lows cycles is long gone. Soon with the money you have you'd be able to do nothing else but to wipe your a$$ with them.

I say sell while you can. I predict that it is a bubble... and bubbles burst.... Give it another year or so... I think it will burst and the price of gold will drop.... Who knows though. I just figure... What goes up, must come down. You know?

reply to post by nedined


I do understand that money will soon have no value. Like gold, you can't eat it either. These high low cycles are for no other reason than to get the money out of the hands of the average people, because we can't manipulate the markets like the insiders can. And I do agree with your use of money.

Originally posted by gimme_some_truth
I say sell while you can. I predict that it is a bubble... and bubbles burst.... Give it another year or so... I think it will burst and the price of gold will drop.... Who knows though. I just figure... What goes up, must come down. You know?

Thats exactly why we are not on the Gold Standard anymore. Contrary to popular belief on ATS, it or any other Commidity Standard doesn't work well.

The bubble is going to keep growing and when it pops it will not be pretty.

reply to post by wingsfan


Historically, this has happened before. Roosevelt made it illegal to own more than $100 worth of gold in 1933 calling it Executive Order 6102.

I've heard people saying they think that is why there are all those Dollars 4 Gold commercials airing, perhaps in preparation of another crash.

As for me, I'm taking advice from a comic book, The Walking Dead, value will be in non-perishable food.

reply to post by Dendro


Food is a good way to go. Even better is the ability to produce food, aka own a farm. One has to be able to protect and defend either though.

If everything hits the fan and goes down the toilet, the things you can count on having value:

1. Bullets. Not just surplus, but the ability to actually to make them or reload them.
2. Food and Water. Again not just surplus, but land with the ability to produce it, aka wells, farms, etc.
3. Alcohol and the ability to brew or distill it.
4. Tobacco in all of its forms.

Keep in mind who had the most power after Rome fell. The Nobiles class, with their giant farms and private armies of Equites, would become warlords and later the nobility of the Dark Ages.

The merchants in Rome with all of their gold and silver didn't fare so well.