Gold prices to hit all-time high

[lovuian]

http://english.pravda.ru/main/18/89/358/14400_gold.html
Gold prices to hit all-time high
10/07/2004 18:53
Gold prices grow owing to unstable dollar and high oil prices

Gold is becoming one of the most reliable object of investments. On October 1st prices on gold hit the maximum in recent five months - $421.9 per ounce. Bloomberg has recently conducted an opinion poll among experts, according to which the gold price can reach the $433 per ounce in the near future . If it happens, gold will set a maximum price in 15 years.

Twenty-seven of 44 traders and investors, who took part in the poll of the agency, said that the price on gold would grow according to the results of the current week. Gold prices have been growing for five weeks running already. Specialists say that such situation was registered only back in 1970. An ounce of gold may cost $480 at the end of the current year.


more...

The Bush Legacy
Higher Oil prices and Gold Skyrocketing and Dollar loss of value

Happy Happy Joy Joy!!!

[wurzel]

1. I think gold was once over $1000.00 an ounce.

[phantom power]

2. I clearly remember $800/ounce

although it didn't last.

[DoYouEverWonder]

6. The highest it ever got to was over $800 /ounce

It definitely did not get near $1000 / ounce.

I worked in the jewelry industry down in Miami at the time and part of my job was getting the London fix every morning. It was a crazy time. That was when Noreiga's runners use to show up, with bags of cash and buy all the gold we had to sell.

[DoYouEverWonder]

10. Jan 21, 1980 - Gold hit $850 / ounce

That is the all time high for an ounce of gold.

http://www.kitco.com/scripts/hist_charts/yearly_graphs.cgi

[chimpy the poopthrower]

3. peak oil?

I wonder if some of that is due to peak oil worries?

[lovuian]

4. You guys are right but the article is saying there is a climate

like in the 1970's when it hit 800 dollars

High Gas Prices
US debt situation severe
and US was at War

[ozymandius]

5. Just a reminder...

this, too, happened on Bush's watch.

[DuctapeFatwa]

7. And kudos to the smart people who bought it in 01. Now get it out of US

if you haven't already done that, which you should have do it now, as in right now.

[Lorien]

9. Mike Ruppert advised all to do so

I guess I should have listened!

[ozone_man]

11. Starting to look like the top in 1980?

It goes down fast once the reversal occurs. Not a good time to be buying gold.

[Gman]

8. Inflation must be just like Mt. St. Helen's

just waiting to bust out. And when it does, hold on to what you've got any way you can.