Gold And Silver Hit New Highs For Second Time In One Week

• Spartaaaaa wrote on 2010-09-16 18:46

  Steve Watson
  Infowars.net
  Thursday, Sept 16th, 2010
  
  Gold and Silver have once again risen to new highs, with bullion futures soaring close to a record $1,280 an ounce as the dollar fell to a five week low against the euro.
  
  Investors point to low interest rates and the looming prospect of more inflationary quantitative easing by the Federal Reserve as the driving forces behind gold’s continued rally.
  
  There can be no doubt that as the globe’s central banks wildly print more and more money, the non-Fiat standard, has become one of the only ways to preserve wealth.
  
  However, the metal has gained over the course of the year even despite a reported slow down in inflation.
  
  The figures mean that gold is up 16 percent this year and is on course for a 10th consecutive year gain, the longest surge the metal has seen for some 90 years.
  
  Lannie Cohen, the president of Capitol Commodity Services Inc. in Indianapolis tells Bloomberg News that “Gold is rapidly becoming the currency of choice,” and that he expects futures to rally to $1,600 next year as the greenback continues to weaken.
  
  Gold’s new high has also been recorded in multiple currencies at the same time, unlike when it previously hit a new high spot back in June.
  
  Bullion still has the potential to make more huge gains, as highlighted by the fact that today’s prices are still way off all time highs, recorded in 1980, of close to $2,185 an ounce measured in dollars adjusted for inflation.
  
  Investors across the board expect the rally to continue, predicting prices as high as $1300 by the end of this month alone, $1400 by the end of the year, with some even predicting $3000 by the end of next year.
  
  Despite these facts, globalists like George Soros would have us believe that investing in gold at this time is “unsafe”.
  
  Silver also rose to its highest price since March 2008, hitting $20.92 in London, only 16 cents less than the metal’s previous three-decade high.
  
  Silver also traded at €15.85 an ounce on Thursday – its highest level against the Euro for thirty years when priced at the exchange rate of the old Deutschemark.

  
  
  Link to article: Gold And Silver Hit New Highs For Second Time In One Week
• pinkkea wrote on 2010-09-16 19:50
  I wish this happened in Mabi
• Iyasenu wrote on 2010-09-16 19:53
  I thought this was talking about Pokemon for a second...
  Just from looking at the title...
  
  lol... maybe I have a poke-problem
• Paul wrote on 2010-09-16 20:03

  Quote from Iyasenu;158102:

  I thought this was talking about Pokemon for a second...
  

  
  
  This.
• Spartaaaaa wrote on 2010-09-16 21:56

  Quote from pinkkea;158101:

  I wish this happened in Mabi

  
  
  Well it's not like Mabi gold is common as dirt or anything... is it?
• wolfram wrote on 2010-09-17 16:15
  There are two sources to put huge sums of cash to invest in and be considered safe during an economic downturn. Note this is millions of dollars we're talking about. Most people don't buy gold personally as in gold bars stuffed in a safety deposit box, although having a couple is a safe bet. They get into the gold buying through gold exchanges funds.
  
  Government debt(stable governments) and gold.
  Government debt because they can just print off money to pay you off, which causes inflation. Driving people towards gold to hedge against losses of their investments mostly likely valued in DOLLARS. Just goes to show that gold will always be in demand. Best course of action is to buy gold to hedge against any losses you may take during an economic downturn. *cough cough, government debt has a low return, so buy gold, then buy government debt to drive the prices of gold up which earns more money. Repeat process.*cough cough.
  
  Technically you can do both in this current economic situation and come out on top. As long as gold prices keep going higher it hedges against the little returns you get back on safe government bonds, and since your buying up government debt at the same time causing your own gold investment to skyrocket. Until governments scale back borrowing and the dollar strength improves causing a gold price crash, then its back to stocks and bonds.
  
  Note this is a very specific example of how certain groups of people work the system to always make money.
• wolfram wrote on 2010-09-17 16:28
  There are two sources to put huge sums of cash to invest in and be considered safe during an economic downturn. Note this is millions of dollars we're talking about. Most people don't buy gold personally as in gold bars stuffed in a safety deposit box, although having a couple is a safe bet. They get into the gold buying through gold exchanges funds.
  
  Government debt(stable governments) and gold.
  Government debt because they can just print off money to pay you off, which causes inflation, driving people towards gold to hedge against losses due to inflation against their investments. Just goes to show that gold will always be in demand.
  Best course of action is to buy gold to hedge against any losses you may take during an economic downturn. *cough cough, government debt has a low return that doesn’t beat inflation rates, so buy gold, then buy government debt to drive the prices of gold up which earns more money that beats inflation rates. Repeat process.*cough cough.
  
  Technically you can do both in this current economic situation and come out on top. As long as gold prices keep going higher it protects you against inflation, and since your buying up government debt at the same time causing your own gold investment to skyrocket, it’s really hard to lose money. Until governments scale back borrowing and the dollar strength improves causing a gold price crash, then its back to stocks and bonds for money.
  
  Note this is a very specific example of how certain groups of people work the system to always make money. It also explains a bit of why gold prices are so high atm.