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Thread: Gold- $1300/ounce!!

  1. #1
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    Gold- $1300/ounce!!

    thank you obama!!

    always knew you would be incompetent and invested wisely but you've exceeded even my expectations of stupidity...

    now the question is when to get out....

  2. #2
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    [QUOTE=Come Back to NY;3756774]thank you obama!!

    always knew you would be incompetent and invested wisely but you've exceeded even my expectations of stupidity...

    now the question is when to get out....[/QUOTE]

    some of us didn't realize how bad it was going to get.... :(

  3. #3
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    explain what obama has to do with the price of gold, seriously I'm not an investor

  4. #4
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    [QUOTE=Mean Bro Green;3756849]explain what obama has to do with the price of gold, seriously I'm not an investor[/QUOTE]

    devaluation of the dollar, insane spending that can't be paid back anytime soon, monetizing the debt, printing money as fast as the presses can work, literally no hope in sight for an economic turn around...

    it may go down in November when the GOP takes over congress, though much of that has already been factored into the market the past few weeks...

  5. #5
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    [QUOTE=Come Back to NY;3756868]devaluation of the dollar, insane spending that can't be paid back anytime soon, monetizing the debt, printing money as fast as the presses can work, literally no hope in sight for an economic turn around...

    it may go down in November when the GOP takes over congress, though much of that has already been factored into the market the past few weeks...[/QUOTE]

    so gold goes up in value because of a weak dollar?

  6. #6
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    [QUOTE=Mean Bro Green;3756872]so gold goes up in value because of a weak dollar?[/QUOTE]

    in part yes; people are looking for safety and stability, which gold offers...its' not just gold but most commodoties (oil, silver, copper)....

    there's also the conversation/idea of gold backed currency which i don't buy...

  7. #7
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    [QUOTE=Come Back to NY;3756774]thank you obama!!

    always knew you would be incompetent and invested wisely but you've exceeded even my expectations of stupidity...

    now the question is when to get out....[/QUOTE]

    Can you say bubble.................

  8. #8
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    [QUOTE=southparkcpa;3757112]Can you say bubble.................[/QUOTE]

    the problem with that is they were saying bubble at $1190/ounce....

  9. #9
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    lol.

    Gold.



    You f*ckers crack me up. :D

  10. #10
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    [QUOTE=PlumberKhan;3757388]lol.

    Gold.



    You f*ckers crack me up. :D[/QUOTE]

    yeh- better to parasite off taxpayers and brag about it....:O

  11. #11
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    [QUOTE=southparkcpa;3757112]Can you say bubble.................[/QUOTE]

    interesting article...i was thinking $1500/ounce but some seem to think $2000....

    [url]http://www.kitco.com/reports/KitcoNews20100928KN.html[/url]

  12. #12
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    [QUOTE=Come Back to NY;3757483]yeh- better to parasite off taxpayers and brag about it....:O[/QUOTE]

    [IMG]http://pointlessbanter.net/files/2007/09/pirate3_1.jpg[/IMG]

  13. #13
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    I'm looking forward to the profits we will be seeing from the TARP investments. Now that's capitalism!

  14. #14
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    [QUOTE]Heading into the US, the theme throughout the day was: kill the dollar, buy everything else. Gold surged to above $1340. Oil had a big day. The Swiss Franc is at new highs. Again, everything surged, and the dollar got drubbed, with the dollar index falling below 78 (though it eventually ended above 78). Click here to see all the dollar alternatives making new highs > [/QUOTE]

    Read more: [url]http://www.businessinsider.com/closing-bell-october-5-2010-10#ixzz11WQY2BNk[/url]

    [SIZE="3"]O-BA-MA :uhhuh:[/SIZE]

    [SIZE="4"]O-BA-MA :uhhuh:[/SIZE]

    [SIZE="5"]O-BA-MA :uhhuh:[/SIZE]

    [SIZE="6"]O-BA-MA :uhhuh:[/SIZE]

  15. #15
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    From what I understand, gold has been rising because mines have been closing left and right.


    [QUOTE]
    [B][SIZE="3"]Harmony CEO sees gold price continuing climb [/SIZE][/B]

    By: Reuters
    21st September 2010

    TEXT SIZE DENVER The price of gold could reach $1 500 an ounce by the end of the year, the chief executive officer of South Africa's third-largest gold producer, Harmony Gold Mining, said on Monday.

    Graham Briggs' comments came as the gold price hit a record high for a third consecutive day, with spot gold reaching $1 283,70 an ounce.

    "I don't think it's going to stop," he told Reuters during an interview on the sidelines of the Denver Gold Forum industry gathering. "You're never disappointed as a gold bull."

    Gold has risen 25% in the last year and, asked to hazard a guess at how high the price might go, Briggs said: "Three thousand dollars is unlikely at the end of the year, but if someone said fifteen hundred, that wouldn't strike me as too crazy a statement."

    [B]Briggs cited several factors driving the price of the precious metal, including Asian central banks buying gold and production declining over the past few years, although he noted it has risen recently in China and Australia.[/B]

    "I think gold financial issues in the world demonstrate the basic principle of gold -- that it's basically a good investment."

    The possibility of Fed stimulus kept many traders bullish about gold, which remained sharply below its inflation-adjusted all-time high above $2 200 an ounce.

    Briggs said Harmony Gold, which operates 10 underground mines and one open pit in South Africa, is transitioning to a lower-cost company by closing high-cost mines and is on track to produce two-million ounces per year.

    In ten years, Briggs said he expected the company to be producing about 2,7-million ounces annually.

    Harmony is also looking to grow organically through exploration, especially in Papua New Guinea, where it has one mine, Hidden Valley, and is developing a copper/gold project at Wafi-Golpu.

    "Internationally there are lot of opportunities in mergers and acquisitions, but not in South Africa -- other than acquiring maybe offshore assets," he said. "We've done a lot of due diligence work looking at projects in areas of Southeast Asia and that's where the focus is."

    That meant Papua New Guinea, Indonesia and the Philippines, he said.

    "Last year we acquired about 8 000 square kilometers of exploration tenure in PNG," said Briggs. "So we're pretty active in exploration."

    He said Harmony's exploration budget had risen to around $40-million a year from $5-million to $8-million five years ago.

    Asked why a South African-based company was not looking at other parts of the continent like rivals Newmont Mining Corp which is in Ghana, he said Harmony had looked in West Africa several years ago.

    "(But) We were very much latecomers there. But there are some other areas of Africa that are opening up, like Eritrea and Ethiopia.

    "We are keeping a watching brief on some of those."
    [/QUOTE]

    [url]http://www.miningweekly.com/article/...ing-2010-09-21[/url]







    [SIZE="1"]This constitutes my Political Forum post of the week.[/SIZE]

  16. #16
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    it's a safe hedge but there's no upside in gold. it's better than buying shotguns and canned beans... but not by alot.

  17. #17
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    [QUOTE=bitonti;3768030]it's a safe hedge but there's no upside in gold. it's better than buying shotguns and canned beans... but not by alot.[/QUOTE]

    lol- what price did you buy gold at???

    20 months- 60% ROI/appreciation...thank you dumbama!!! :yes:

    the only way to better capitlize on this fuq up was oil and silver...
    Last edited by Come Back to NY; 10-06-2010 at 10:26 AM.

  18. #18
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    not much upside here...lol

    [IMG]http://goldprice.org/charts/history/gold_2_year_o_b_usd.png?0.05700124647656335[/IMG]

    flip that chart around and you've got obama's approval ratings...

  19. #19
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    upside is the future. that's the past.

  20. #20
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    yup, no upside in gold...lol

    [QUOTE]
    NEW YORK (TheStreet) --[B] Gold prices broke to record highs Monday as investors piled into the precious metal. [/B]

    Gold for December delivery settled $5.50 higher at $1,403.20 an ounce at the Comex division of the New York Mercantile Exchange and was continuing higher in after-hours trading. The gold price Monday has traded as high as $1,407.20 and as low as $1,386.60.

    The U.S. dollar index was adding 0.62% to $77.02 while the euro was losing 0.83% to $1.39 vs. the dollar. The spot gold price was up more than $13, according to Kitco's gold index. [/QUOTE]

    [url]http://www.thestreet.com/story/10914525/1/gold-prices-slip-but-still-eye-1400.html?cm_ven=GOOGLEN[/url]

    just under 6% in a month...how them beans tastin'???
    Last edited by Come Back to NY; 11-08-2010 at 06:33 PM.

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