Gold hits $1000 for first time

No it doesn't.

Well f*ck me! Congrats to all the gold bugs out there

So where did the Beeb get their figures?

COMEX futures.

errm, yeah - not hit $1000 yet - hopefully today.

http://data.tradingcharts.com/futures/quotes/GC.html
over $1000 here...

Kitco not showing it yet if indeed true.

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

This thread will self destruct in approximately 10 minutes.

because $1000 was for the APRIL future. (well over $1000 for June)

My magical $1,000 is for on spot gold, not spot-month Comex futures. The Universe also still exists, proving my point.

Are you paid in $?

If not, why do you care about the raise of gold in $?

Do you know that the $ is in freefall?

Climbing relentlessly - over £490.00 per oz today - £500.00 soon???

Interesting times.

Just a little bit then....oh yeah baby, just like that.

Click to view attachment


http://isht.comdirect.de/html/detail/main....p;sTab=bigchart

gold hovering at 998 a couple of mins ago. Just checked back onto the kitko site and it wont open. Neither will the usa gold site. Crashed due to too much traffic?.....

Steve

999

999.45

locked up again......

steve

Try this...

http://isht.comdirect.de/html/detail/main....p;sTab=bigchart

The rise in the price of gold indicates the lack of confidence investors have in other assets, such as bonds and equities. The less capital US companies have to invest, the worse the prospects for economic growth in both the US and their worldwide subsidiaries and also a worse outlook for those exporting to the US. It also means reduced share prices, putting at risk deals dependent on those assets. This is one reason why so many hedge funds are facing problems.

Commodity prices generally have appreciated significantly over the last 6-12 months, faster than the dollar has depreciated. Gold isn't the only one, look at oil, wheat etc. Despite the recent action taken by the Fed, the continued rise in gold and oil prices indicates the market continues to have doubts over the future performance of the US economy in particular.

Commodity price rises are a source of inflation.

Central Banks normally use interest rates to expand or contract the money supply according to the prevailing economic needs. At times of high inflation they increase rates to fight prices rises; at times of slow economic growth they reduce rates to stimulate growth.

Now comes the killer.

With the emergence of the credit crunch, the credit markets have seized up and borrowing has become difficult. With toxic debt swilling around the system banks are refusing to lend to each other and thus lend to businesses and consumers. Economic growth is being hampered. To ease this problem and allow growth to continue, the Central Banks should consider rates cuts, but with inflation becoming a pressing issue they also have to consider increasing rates too. The question is which do they go for?

The credit crunch has scuppered the usual economic rules and the dichotomy poses the of risk stagflation : economic recession with inflation and unemployment. This would be painful to live through.

That's partly why I pay attention to the price of gold; it's consequences for the economic outlook.

nice...thanks

Just saw spot 1000.60

not showing on mine....still hovering in the 997-998 region

kitco is utterly locked up

Assuming traffic is the problem. This can only mean that 1000 is a serious psychological barriere for many. If it passes that and holds it, there will be a rush to buy that will send it skywards

i bet GF is wetting himself right now...jammy b*gger

Hold onto your hats gents....

After the 3.00pm London fix there is usually a buying frenzy . Lets hope this is what will bust it through the 1000 and then some.

I saw it as a high & that german sever has it as $1,000.35 high.

As my mother used to say.


It's all going to end in tears.

982 coming right up

Beware the smackdown....

This is how I see it.

Yeh , looks like a case of premature gold prediction .......messy business

I can't believe this thread is still alive. Come back Goldfinger all is forgiven.

Are you thinking of the old thread?.

http://news.bbc.co.uk/1/hi/world/africa/7294665.stm

At least none of it appears to be crumbly... that would never do...

No, but I have spreadbet positions in place that make me £s when the POG in $s goes up. So I care.

Don't get all huffy because you failed to back an investment that's doing rather well.

Gold chart for 12/03/08 - Chart

Knowing absolutely nothing about investing etc I've stayed away from this whole gold thing. I'm kinda wishing I'd just put some cash in regardless now! infact I'm still considering it although really I'd be so nervous that I'd probably not be able to bring myself to put enough in that would bring enough of a return to make it worth while (plus i'm not exactly loaded anyway).

Still tempting though!

and this is what will take gold to $10,000 and higher

It's often said that 5 or 10% of your savings in precious metals acts as an insurance policy.

The price is very volatile so no need to watch it every day. And with say 5% you needn't get too nervous.

What is the thing in the picture?

http://spacefellowship.com/News/?p=390

An engine malfunction caused the Rubicon 1 rocket to pinwheel over the Pacific Ocean this afternoon, then explode. The malfunction also explodes the dreams of two Forks rocket scientists to win the $10 million X Prize. The complete report in words and photos in Monday’s Peninsula Daily News.

Ta.
Talk about crossing the Rubicon.

Yeah, but I bet it never stopped you doing it anyway? (Not till the box round the ears that is)

Who was that writing about junkies? Kill the thread and it comes back straight away.

They want to keep it off the main forum, but they can't.

This is 100% correct, guaranteed.

There was a guy from the Wall Street Journal on the BBC News tonight saying that you can't do anything with gold but because people traditionally go there for security in bad times that was what people were doing now. He said that he did not think the price would last and then went on to talk about nothing fundamental holding up the price of oil either and that speculators were simply driving up both.

They may have killed the thread but keep 'em coming..