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Gold Up $47 Today

Discussion in 'The Okie Corral' started by Paul7, Jan 25, 2012.

  1. Paul7

    Paul7

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    I thought the anti-gold crowd said the bull market was over?
     
  2. John Rambo

    John Rambo Raven

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    It was certianly a buying opportunity a few weeks ago. Time to ride the next wave up! I hope it doesn't collapse, then I'll have to wait for the next one.
     

  3. Dragline

    Dragline

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    Ya I know I saw that and it makes me feel a bit ill right now.
    At yesterday morning's low I was all set to pull the trigger on five ounces (not a huge amount I know , but still) but thought I should wait and see what it looked like today.
    Well now I know what it looks like and it makes me look like a chump.
    I could have almost made up my premium over spot in one day.
     
  4. geofri

    geofri Poikilotherm™ Lifetime Member

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    Ah man.. I copped out a few weeks back, and was hoping for a further dip before buying some.
     
  5. Gregg702

    Gregg702 Gold Member

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    The metals markets are volatile. They were down this morning when I first looked, then shot up. Tomorrow they could just as easily drop down.
     
  6. Dennis in MA

    Dennis in MA Get off my lawn

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    Yeah. Because the market was way down otherwise today. . . wait. EVERYTHING rose a lot today. You coulda bot oil too.
     
  7. Paul7

    Paul7

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    The DJI was up .66% today, gold was up 2.65%.
     
  8. Paul7

    Paul7

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    Can't beat yourself up for that, if we knew when these things would happen we'd go buy a winning lottery ticket, right? What I do know is the long-term trend for gold is up, for the dollar - down.
     
  9. Glock20 10mm

    Glock20 10mm Use Linux!

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    Well that means silver went up as well... and yup! It did!
     
  10. cowboy1964

    cowboy1964

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    All the serious people seriously talking about returning to some kind of a gold standard crack me up. Gold would have to go to $20,000 an ounce to cover all existing money supply. I have yet to see any of the gold standard proponents explain how THAT will work.

    PS. Apple made $13 BILLION profit last quarter. Mind blowing.
     
    Last edited: Jan 25, 2012
  11. Dennis in MA

    Dennis in MA Get off my lawn

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    Oh dear Lord. I must be doing it wrong based on your extensive data. :rofl:
     
  12. Paul7

    Paul7

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    You could link it fractionally, say 10%. I don't get the confidence in the fiat money experiment.
     
    Last edited: Jan 25, 2012
  13. Hummerbike

    Hummerbike

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    Buy ammo You will probably do better in the long run.
     
  14. Just1More

    Just1More

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    Bernanke contradicted Obama's rosey outlook last night.
     
  15. Paul7

    Paul7

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    Buy both.
     
  16. arclight610

    arclight610

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    That's why people hold on to gold. They know that there is too much currency in circulation to go back on the gold standard, which leaves one option: Keep expanding it until it fails like all the rest.

    I own no gold BTW, but I still believe our currency will eventually be doomed.
     
  17. Paul7

    Paul7

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    +1. The money supply was up 10% last year.
     
  18. cowboy1964

    cowboy1964

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    Sure, they'd start out at 10%. Then they would need more money so they would drop it to 9%. And so on. And we're right back to where we are today.

    A new currency system will be coming in the next decade. Odds are higher every year it will be some kind of global one.
     
    Last edited: Jan 25, 2012
  19. Paul7

    Paul7

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    ...backed by something tangible. Why did gold backed currency work for so long? How is the fiat experiment working out?
     
  20. OctoberRust

    OctoberRust Anti-Federalist

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    I was wondering why my 401k shot up sky high. :supergrin:

    oil stocks ftw.