Gold up above $330/oz. today

Gold up above $330/oz. today

Post by motyk » Sat, 14 Dec 2002 11:34:27



For those who may keep track,gold broke the $330/oz. barrier today.It went
as high as $333/oz.,up as much as $6.00 per ounce, then settled down to 331
at the close of the gold market.Any speculation on itsfuture?
 I was wondering if any if the more experienced people here can tell me if
it will affect the price of gold coins-I know that common gold coins do
fluctuate with the price of bullion,but does a rapid price rise affect the
prices of more collectible gold coins,and if it does,how much?I do own a
small collection of gold coins,nothing very serious.             thanks in
advance-
                       phil
 
 
 

Gold up above $330/oz. today

Post by TomDeLor » Sat, 14 Dec 2002 15:10:19


I will guess that it gets near or breaks $350 before the profit taking drives
it back close to $340 around Jan. 1.
Tom DeLorey
.
Quote:
>Subject: Gold up above  $330/oz. today

>Date: 12/12/2002 8:34 PM Central Standard Time

>For those who may keep track,gold broke the $330/oz. barrier today.It went
>as high as $333/oz.,up as much as $6.00 per ounce, then settled down to 331
>at the close of the gold market.Any speculation on itsfuture?
> I was wondering if any if the more experienced people here can tell me if
>it will affect the price of gold coins-I know that common gold coins do
>fluctuate with the price of bullion,but does a rapid price rise affect the
>prices of more collectible gold coins,and if it does,how much?I do own a
>small collection of gold coins,nothing very serious.             thanks in
>advance-
>                       phil


 
 
 

Gold up above $330/oz. today

Post by David Gier » Sat, 14 Dec 2002 20:52:27


Tom,

Goldcorp, a Canadian gold mining company stated early this year that
they expect gold to reach the $350 (US) level this year.  I believe they
have been stockpiling production waiting as they don't hedge and their
inventory is growing.  This would indicate to me that your drop back of
prices at the $350 level (if it makes it) could be a very good guess.

Dave Gierl

Quote:

> I will guess that it gets near or breaks $350 before the profit taking drives
> it back close to $340 around Jan. 1.
> Tom DeLorey
> .
> >Subject: Gold up above  $330/oz. today

> >Date: 12/12/2002 8:34 PM Central Standard Time

> >For those who may keep track,gold broke the $330/oz. barrier today.It went
> >as high as $333/oz.,up as much as $6.00 per ounce, then settled down to 331
> >at the close of the gold market.Any speculation on itsfuture?
> > I was wondering if any if the more experienced people here can tell me if
> >it will affect the price of gold coins-I know that common gold coins do
> >fluctuate with the price of bullion,but does a rapid price rise affect the
> >prices of more collectible gold coins,and if it does,how much?I do own a
> >small collection of gold coins,nothing very serious.             thanks in
> >advance-
> >                       phil

 
 
 

Gold up above $330/oz. today

Post by Chri » Tue, 17 Dec 2002 16:48:40


About ten years ago some leading Wall Street analysts believed that there
would be an implied cap on the price of gold for decades The theory was that
various countries' central banks had enormous gold stores they wanted to
sell, but didn't want to when prices were low. In other words, every time
gold prices get high enough, they would sell until the price became
unacceptably low. This pattern would continue until these reserves were
liquidated. At the time, the purported target price was around $400/oz, but
I haven't heard an update. One factor that was expected to shorten the
liquidation horizon was to be the growth of Asian economies--Asians have a
greater cultural affinity to gold than Westerners--to the extent Asians
became wealthier, they could be expected to buy more gold than Americans and
Europeans. I suspect the collapse of the Asian economies in the 1990's may
now actually be lengthening the liquidation process.

As far as speculating on the price of gold, your question reminds me of the
story about when Einstein died. At the Pearly Gates, he was greeted by St.
Peter, who took him to meet some of heaven's other inhabitants. Three were
standing on a cloud nearby. Einstein asked the first, "What's your IQ?" The
man answered, "190." Einstein said, "All my life I waited to meet someone
with an intellect like mine--we'll think great thoughts together." He asked
the same question of the next, and the answer came, "150." Said Einstein,
"This MUST be heaven! He and I will think great thoughts, and you can carry
out the experiments to prove our work." Einstein asked the third, who
answered, "50." Einstein: "Perfect! A moron! What's going to happen to gold
prices?!"
--Chris

Quote:

> Any speculation on itsfuture?

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Gold up above $330/oz. today

Post by Larry Cald » Wed, 18 Dec 2002 02:31:56


Quote:

> For those who may keep track,gold broke the $330/oz. barrier today.It went
> as high as $333/oz.,up as much as $6.00 per ounce, then settled down to 331
> at the close of the gold market.Any speculation on itsfuture?
>  I was wondering if any if the more experienced people here can tell me if
> it will affect the price of gold coins-I know that common gold coins do
> fluctuate with the price of bullion,but does a rapid price rise affect the
> prices of more collectible gold coins,and if it does,how much?I do own a
> small collection of gold coins,nothing very serious.             thanks in
> advance-
>                        phil

If you have an interest in the metals prices and do not have a
bookmark, take a look at my ebay "ME" page. There is hot links from
kitco displaying gold and silver pricing.


PORCOS NON ABLOCAMUS, Y'all
Larry