Gold Breaks $800/Oz
Reacting to the Federal Reserve’s rate cut today, gold surged past the $800 barrier for the first time since 1980! I’ve been hawking gold as an investment for 2 years and no one’s been listening to me!
According to a press release today:
Gold last topped $800 an ounce in 1980, when prices reached as high as $875 an ounce in January. Adjusted for inflation, an $800 ounce of gold in 1980 would be worth more than $2,000 today.
I think that gold will probably hit atleast $2,200 if not more. Some people are predicting higher amounts, like $3,500. I’m not sure. But I do know the US Dollar is a lousy investment right now.
Oil closed at $94.51 and the Canadian Dollar now cost $1.06!
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November 4th, 2007 at 2:57 pm
<< But I do know the US Dollar is a lousy investment right now.
I’ve put 5% in gold and stopped when it hit US$550. Just a minor thought….
Gold can hit , but since we’re not psychics, I think what you’re trying to say is (But I do know that the US Dollar was a lousy investment up until now).
November 4th, 2007 at 2:58 pm
<< But I do know the US Dollar is a lousy investment right now.
I’ve put 5% in gold and stopped when it hit US$550. Just a minor thought….
Gold can hit (put your price), but since we’re not psychics, I think what you’re trying to say is (But I do know that the US Dollar was a lousy investment up until now).