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Gold edges upward

December 26, 2008 by  

Renewed international concern eases gold upwardGold prices moved past $870 per ounce in Friday trading after a week of steady rises.

Tensions in the Middle East and on the Indian-Pakistani border helped to boost the price of the precious metal – widely viewed as a safe haven investment – during an otherwise quiet week of trading.

Spot prices for February rose quickly from $850 to $870 over the course of Friday afternoon.

Meanwhile, concerns for the underlying strength of the U.S. economy – hit hard by growing unemployment and historically weak consumer demand – have led to renewed speculation over the future price of gold.

"Gold is solid as the dollar is under pressure because of a deepening U.S. recession and the Fed policy of keeping interest rates near zero," analyst Tatsuo Kageyama was reported as telling Bloomberg.

Some experts predict prices might rise as high as $2000 in the next year to 18 months in response to the global financial crisis and the possible worsening of relations in international trouble spots.

The resurgence of fighting between Hamas and Israel on Wednesday reinvigorated concern over Middle Eastern stability following the unraveling of a six-month ceasefire between the two sides earlier in the month. ADNFCR-1961-ID-18947604-ADNFCR

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  • http://jclbiz.com Jack Lovett

    Folks, This is STUNNING news! Have you heard this on local tv? Get the U-TUBE
    or youcan see this index @ investmenttools.com
    This is only one indicator that proves Bob is so right on. Buy silver (if you can find it)
    Garden seeds. Food and other household stuff. Also see Bob Mority’s latest artical
    @321gold.com

    Jack

    DEC. Alert US to be CUT OFF from World – Baltic Dry Index Falls 93%

  • james sesame

    This may be simplistic or just wrong, but I see gold going up in response to increased demand in the face of what many people perceive as impending world economic collapse. This kind of action will only accellerate any such collapse, and eventually, when gold has seen its run, & a maximum of everyday people are holding all the gold they feel they might need, THE PRICE OF GOLD WILL FALL PRECIPITOUSLY in response to decreased demand. This kind of reasoning looks good on the surface but from the insider view, it is simple econobabble covering the continual fleecing of the public at ever accelerating rate. Insiders get to buy gold low & sell it high, but everyone else gets to buy it high & sell it at a loss. This is what happened to Americans holding gold during the ‘Great’ depression, when it was outright confiscated by US gov order, a ‘plan to get the nation out of the depression according to then president Roosevelt, who (almost) all Americans trusted, & still do!!! Words fail.

  • Bob Livingston

    Be reminded that the U.S. still values official gold reserves (if they exist) at only $42.00 per troy ounce.

    The time will soon come when “they” will revalue gold because of such an avalanche of fiat spewed out over the world.

    Revalued gold along with the ceasing of gold suppression will restore some credibility to fiat by implication that U.S. paper has substance in the new upward value of gold.

    • DONNIE VINES

      SHOULD I TAKE THIS TO MEAN THAT WHEN BIG BROTHER CONFISCATES MY GOLD COIN COLLECTION THAT I’LL BE PAID AT $42/OZ
      IN AMERICAN DOLLARS.

      • http://jclbiz.com Jack Lovett

        Firstly, They have to find your coins. (hint) Another way is to play the gold/silver
        ratio. Gold has been recently overpriced relative to silver. The historical ratio
        has been 15 to 1 (appox) . And IMHO in the coming (depression,event,$ devaluation,or,,,) Silver will gain on Gold. As to barter,,much better off W/ Silver.
        But,but, If those are numismatic coins, then its a different story.

        jclbiz

      • AlPon

        Never give up your gold !! Never keep it in a bank ! And never tell anyone where you stashed it. When FDR illegally confiscated the gold in the 30′s gold and silver were in circulation as money. Back then people knew real money when they had some. Today there is no real money in circulation, just toilet paper. So, the point is, because there is so much less gold/silver in circulation to confiscate it would not bring in nearly as much volume as in the 30′s. And not be so rewarding to the banker elite who control the worlds economies. Also, they have already stolen most of the US gold and transfered it to the central banks and the IMF. They already hold most all of the cards.
        Lastly, when, not if, the US dollar goes under I am sure there will be a black market for goods and money. Barter will also be prevelant. Get some junk silver. I.E. coins minted before 1965 are 90% silver and will be much easier to spend than higher valued gold coins.
        You need the 3 ‘G’s. Got gold, guns and grub ?

  • AlPon

    Hurray, hurray … some of us are finally getting to the ‘real’ truth. The world IS controlled by a few hundred, maybe a thousand or so, ultra rich, ultra secretive families. For all who still wonder why and for those that can’t seem to understand what’s going on in the world. For all those still divided by petty differences. For all those that still have a partisan mindset. In other words; us vs. them and Dems vs. Repubs. Let me present the ultimate evidence of world wide manipulation and control. Written over 150 years ago, by the evil doers, for the evil doers, this document has been denied by them as bigotry. But after you read it and see that all the plans and proficies have come to fruition there can be no denying the truth. They never denied the existance of this document, only to say it is racist and bigoted. They never deny the contents thereof. For over 100 years it has been hidden and censored.
    Every citizen of the planet needs to read this book. It will rock your world and you will never be or think the same afterwards. I’m not selling anything. Unlike so many web sites trying to get rich by informing us of what we should already be aware of. My only motive is too circulate this publication. To help the citizens of the US and the world in general to see and discern the truth. The REAL truth.
    At the risk of disappearing or being ‘rubbed out’ I am revealing this to all the world. The name of this tome is “The Protocols of the Elders of Zion”. If you can’t find it with your browser, as I said, they want this kept under wraps, I will provide it free as a PDF document. Just request a copy from alanponelli@hotmail.com. I will promptly reply and attach said doc to my email. Let’s see how many people have a quest for the truth or just like to hear their own gums slam together.

  • David

    David–Yes, the powers that control this government- the CFR (council on foreign relations), the Bildebergs, trilateral commission are dead set on bringing us down and into into the New world order as the American Union. THEY are the one that brought down the WTC,-evidence-look at www Rep. Brad Sherman/ Martial Law- look at the video links of the “Airliner” crashing into it- you will notice the left wing of the “747″ disappearing as the crash occurs- Shouldn’t a wing 100-150 ft long flying at 300mph at least smash the windows of the skyscraper upon impact? But it doesn’t, because it was a hologram of a 747 over a Cruise missile . They showed that Holograms exist and are very realistic at one of those ” TV award” shows. The pentagon crash- NO wreckage debris-NO dead bodies or parts- titanium airplane parts don’t vaporize– NO airplane debris or bodies in the “Flight 94 Crash” All cruise missiles, not airplanes!

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