Gold Nears $1,900 per Ounce
Posted on | August 22, 2011 | 10 Comments
Anyone seriously expect it to stop short of $2,000?
Gold futures notch a fresh nominal record in electronic trading in Asia on Monday, against a backdrop of concerns over the health of the economies in Europe and the U.S.
Gold for December traded at $1,882.50 per ounce, up $30.20 in electronic trading.
Gold futures reached a fresh record closing high of $1.852.20 an ounce in regular trading in New York on Friday, after hitting an intraday high of $1,881.40 an ounce.
You should have listened to Glenn Beck!
Category: Economics
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10 Responses to “Gold Nears $1,900 per Ounce”
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August 22nd, 2011 @ 1:04 pm
Having spent a good deal of time in the COMEX pits I can safely say those boys are gonna take out the $2K ceiling, maybe this week, just to see it happen… and then there will be one hella ($200-400) correction.
August 22nd, 2011 @ 1:36 pm
Seems to me like this might be a good time to get back on the gold standard. But I don’t know if that would be practical with a national debt shooting at 21 trillion.
August 22nd, 2011 @ 2:05 pm
I am sure it will break 2000, but I would be hesitant to go heavy in gold.
August 22nd, 2011 @ 11:56 am
[…] Gold Nears $1,900 per Ounce : The Other McCain Anyone seriously expect it to stop short of $2,000? […]
August 22nd, 2011 @ 4:39 pm
Even with a $400 correction it will be up about $150 in 2 weeks. That’s a helluva annual return.
August 22nd, 2011 @ 8:47 pm
I mean the day they break the level (and probably the next day or two). Then they’ll chill out at around $1200-1400 and mount the next onslaught!
August 22nd, 2011 @ 8:50 pm
Technically, it’s wildly overbought, but no one trusts any other traditional place to park their money while the paper-based options are all looking ready to collapse at any given moment.
August 22nd, 2011 @ 11:42 pm
The real debt is near 100 Trillion when unfunded liabilities are factored in.
Add in derivatives and the US economy is a zombie, right along with the rest of the world’s.
August 22nd, 2011 @ 11:43 pm
It will break $2K, but correct. It will then break $2K again and keep going. We are just at the appetizer stage.
August 30th, 2011 @ 7:06 pm
[…] Exchange.The FOMC report is online here. It’s worth noting that gold is still below the record price near $1,900 it set Aug. 22, but the talk of more “easing” (Fed-speak for deliberate inflation) suggests that […]