Just hit record highs in the last few minutes after slump yesterday. Currently $991 and on a vertically upwards trajectory at present.

Which kind of undermines the bubble proponents and gives ever more credence to the safe haven proponents.

sssshhhhhhhh!!!! sssshhhhhhh!!!!

http://www.kitco.com/charts/livegold.html

Shut UP YOU FOOL!!!!!

Those deflationists don't like it up 'em.

It is interesting.

Indeed.

Great, that just gives me the chance to short it even more.

This is commercial signal failure big time

Cripes! $1000/oz today perhaps?

What's oil doing?

i dont know whats happening- the gold thread has been moved and closed? and now no one is allowed to mention gold?
what's going on?

Who knows........we're now in completely uncharted waters.............$40 intraday moves now seem 'normal'........how much longer before $100 intraday moves seem 'normal' and what range will we be in then?...........how much longer will physical actually be available?

These are the kind of questions I wish I had answers for.....


hold on.....the rollercoster has only just left the platform.

I don't know either. If only there was a single thread dedicated to how gold is a proxy for inflation, can act as a safe haven in times of financial uncertainty, its implications for investments in general and mortgages in particular. What a resource of information that would be!

Ask yourself who is buying all of this gold? What is it they know that the rest of you don't?

It is in the metals forum. If it gets too big on the main forum it just becomes a massive unwieldy collection of rocket pictures, and "yes, woohooh baby to the MOON!!!" comments that make no sense.

Better to just mention gold however and whenever you like when it is relevant to a thread, and post newsworthy threads like this about gold when something happens. And accept that when the news is old, they will go to the metals forum.

I want a correction! This isn't fair*


*Knows full well that there will be a very large one before long. Either that, or we are in the 'THIS IS IT' stage (in which case the world economy is about to enter hell).

Interesting how gold never makes the news. The most reliable indicator of inflation is goind mental and it's jsut not news. Is the media trying to protect the sheeple from the unpopular truth??

They're going to maintain production of oil at current rates.

China, Russia, The Middle East BUT also other interested parties like, is is rumoured, the Carlisle Group.

But wait - there is.....somewhere around here, its suddenly got a lot harder to find, and...... its been closed. furthermore lots of the people who used to post on it have disappeared- No matter, I dont think it was very popular anyway, nobody ever read it.

Look deeper than that.

To be fair no-one in there knew what was happening either.

I believe OPEC were meeting today to discuss US requests for them to pump more oil. Apparently this was going to be declined although OPEC fears that oil will ultimately fall in price if the US goes into recesssion partly brought on by high oil prices.

I seem to recall a TV doc in the 90s that:

1. Pointed out that diamonds were in such abundance that they had no real value but their value was held up by 2 or 3 diamond houses who effectively control the diamond trade and keep billions of diamonds from the market.

2. There was not enough physical gold in banks around the World for all the people who actually thought they owned physical bars of gold - in other words, if all the people who believe they own a bar of gold in bank X decided to go along to get out their gold there would not be enough. Apparently this is repeated in banks the World over.

Useless yellow metal with no real use in the world suddenly costs a bit more. Who cares? Nothing to do with a discussion on house prices. Boring. move along - nothing to see here.

Gold isn't useless. It's jsut so expensive it isn't used for much. It is the most efficient conductor of heat, is completely inert and has a lot of interesting properties in nanotechnology. If Gold was as cheap as silver you would see it everywhere.

You may not care or see the relevance now, but you will care later. This is a most important topic.

Heh heh

About 80% of the threads on the main page have nothing to do with house prices. That doesn't stop them from being interesting though.

do you truely think gold is linked purely to money supply?


if so, then we must have had 50% money supply growth within the last 6 months with gold going from 650 to 990??






you can have DEFLATION & GOLD GOING UP

just like you can have INFLATION and gold going down (look at the laste end of the 90s)



its more speculation than fundimentals. but no ones saying you cant make money with speculation

Anyway, the meedya mood music is that the US inventories were lower than anticipated and OPEC ignored little Bush's request for more pumping and decided to "maintain" output saying demand doesn't merit an increase.

Hence oil took off again, and the other thing went with it.

Too many complaints. They've moved it to the 'metals' forum. (I would too, if people were using my forum to complain about me! )

You move on. Your post its utter rubbish. It has everything to do with house prices. If most of your assets are in gold, then house prices just crashed by 2.9% in the space of an hour or so in relation to gold. (28/962 * 100%)

The numbers of Oz's of gold needed to buy the average UK house has fell dramatically. If the same happened with GBP it would be news wouldn't it?

If house prices just dropped 2.9% in an hour, would you ask us all to move on then...."nothing to see here".

Do some research. In the past 18 months, house prices have halved in comparison to gold, therefore it is entirely noteworthy.

http://www.moneyweek.com/file/37713/buy-gold-not-houses.html

I've started a 'complaintless" new gold thread on the main forum.

http://www.housepricecrash.co.uk/forum/ind...showtopic=70025

Get it while it's hot!

I think sbn was being ironic.

Fair cop!

Darn. Moved to the metals forum. It's not a metal, ffs. It's a currency.

LOL

You're right. It was just luck or pure coincidence that they bought years ago and have more than doubled their money.

Its not like they ever explained why gold would go up or that there was any fundamental reasons why it should.

I hate the way some people luck out like that.

I am tempted to buy gold, but I want it stored in my loft, not a vault! Anyone know of a way I can arrange this?

Thanks

Thats a bit rich from someone who has posted a dozen paranoid threads searching for an (in)secure home for their Str money!

Maybe better off shoving it in a sack and dropping it in the septic tank than trusting british roof trusses, Crimson And a fire would have interesting results.
Either way (serious face on) all this talk of hoarding PMs (yes, yes, guilty here too) is beginning to make me a bit twitchy.

As the Time Team troglodytes know only too well, "interesting times" are generally marked archaeologically by hoard deposition. That is, people got the wind up and hid their stash before the Bad Thing turned up, and generally managed to retrieve their wedge when things calmed down. But a significant proportion didn't, for whatever reason.
OK, it might be that this sort of squirrelling away goes on all the time, but when the Bad Thing fails to materialise they mooch off and dig it up again, so only hoards from bad times stay put. But a small number always remain uncollected, just 'cos.

In which case I'd expect diggers to be turfing up Y2K, WWII, Winter of Discontent, whatever, hoards even now, despite the advent of paper and electronic money, during developments and so on. But it doesn't seem to happen. Seems folk generally guess right as to when the Fat Lady is about to launch into an aria.
It takes the S to really HTF to trigger the nicest sparkly treasure troves.


Depressingly, the major hoard finds in this country seem to be symptomatic of 'events, dear boy' on the scale of the Fall of the Roman Empire, the Anarchy, The Civil War and round my gaff, by the invasions of Edward Longshanks.

[edited for senility. It's me birthday y'know. Don't ask.]

I dont agree with all the points made about gold but i do see it revelant to house prices and the economy and yet this has been moved.

We are quite able ourselves to give the gold bugs a run for there money i thinks even if none of us are sure about where the price is going.

Spot the newbies

I am a newbie - I now know why thats easy to spot!

Noooo.....I meant as in "newborn"...you're an old timer already

The dip and rise has been highly correlated with crude, due to concerns that OPEC may give in to Bush's requests for increased production, today OPEC announced that they would keep production on hold and hinted at cutting production due to US recession.

Looks like we may have already hit peak oil, crude is likely to rise, the US recession is likely to get worse, the dollar is likely to come under more pressure, Iran is more likely to get invaded, Chavez is likely to come into more disreupte in the Media. Every one of these things suggests that gold is likely to continue rising.

A truly great and interesting post. I've considered just such a buried hoard and you have united me with my brother-misers across time. Happy birthday.

Gold says: "I get knocked down but I get up again."

YouTube - I get knocked down (by Chumbawamba)

Dominic Frisby had an article in moneyweek today about gold and other commodities:
moneyweek