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New Record Gold Price

Uncle Ron

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Holy Cow!!!!!! $1,080 per ounce ... That's$2.25 / grain -- $54.00 / DWT --$34.73 / Gram

Don't know whether to be happy or freak out .. But I am going beeping right now!!!!... Cheers, Unc

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This is nuts.... The price jump is said to be centered on India Central Bank buying 200 metric tonnes from the IMF.... what is strange is deals like that usually pressure prices to go down not up. Watch out when China spends their shrinking dollars on gold

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I think we might see $1200 gold, in the not far future.

Any country holding billions in US dollars, is looking to trade those US dollars for something better.

Sadly, as the US deficit increases, there are more secure options holding a basket of other currencies, gold, silver etc.

China is the bull on the horizon.

They are buying gold with US dollars they hold & let me assure you, they hold billions of US dollars in cash & treasury bills

PS, on some gold I have purchased over the years, mostly coins.

When the price is high enough, meaning double my purchase price.

I sell around 50% of any particular batch.

That leaves me holding the other half of that batch, with ZERO invested in it.

Which makes it into what I refer to as "patient" investment.

No matter where the price goes, I still profit

If it doubles again,...... again.....I sell 1/2 the remaing batch, etc.

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