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Gold Prices Hit Record Levels Following S&P Report

April 21, 2011 by  

Gold prices hit record levels following S&P reportA downgraded credit rating for the United States has lifted gold prices to record levels.

For the first time ever, gold prices exceeded $1,500 an ounce on April 19. The spike came a day after Standard and Poor's latest outlook on America's long-term debt, which went from "stable" to "negative." Standard and Poor is one of three major financial agencies that rate the ability for nations to repay their debt.

The price of gold has steadily increased in recent months as many Americans have shifted their focus to wealth protection amidst a shaky economy and tumultuous activity overseas. Standard and Poor's dour forecast was the latest hit in a steady stream of events casting doubt on the stability of the U.S. dollar.

Carlos Sanchez, the director of commodities management at CPM Group, a market research organization, told CNN that gold prices could reach as high as $1,550 in the next couple of weeks. The May deadline for the government to raise the debt ceiling will likely have a significant impact on the precious metals market.  

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  • TIME

    You have yet to see anything, just wait a while as in when GOLD hits $3000.00 PLUS per OZ.
    But hey by that point in time you will not be able to afford Gas, so your job will be lost as well your home, so to the electric to run your computer will not be an option so I guess the MONKEYS will not be posting, oh wait thats what the MONKEYS want to “PROGRESS BACKWARDS.” Don’t you just love MONKEYS, they really are just so cute.

    Hey Barry has a PLAN, for CHANGE, HEY you MONKEYS, your just steps away from that Progress Backwards to when you used to swing by your little fuzzy tails in tree’s. How happy are YOU?

    I spoke with a some folks in the markets they now seem to think that my $5.00 Per Gallon for Gas by May 2011 is not a joke anylonger, WOW ~ who would have ever thunk it.

    For you that can grasp this ~ The MONKEY’S LEADER Barry has told all of us, {you will be paying more for gas and you should just} as Barry put it ~
    As Barry said at $5.00 – $8.00 PG that will only increse your gas expences by $1500.00 – $2200.00 per year!
    So why should anyone be upset?

    He just forgot to make note of the fact that Gas runs trucks that bring your food to market, allow for the production of your food, Or that corn feeds Cow’s Pigs and Chickens.

    As well that electric power runs on Coal and Gas etc., but hell you don’t need any stinking electric power now do you?

    After all you will have a Brand new Electric CAR and who needs electric power when you have that projected 1.5 Million Electric cars on the road?

    So when it all starts to fall just go and get a MONKEY EBT card so you can join the millions on that system. But then again will you be able to buy anything with your new EBT card?

    Hell no but a MONKEY with an EBT card is a happy Monkey, or are they?
    Whats the next step for UN happy MONKEYS?
    Its sure not dancing in the streets now is it?

    No Un happy MONKEYS do bad things on mass to make the MONKEYS happy, afterall the Wealthy can sure spare a dime.

    Yet the MONKEYS still are jumping up and down and want thier Benifits and all the other things that they “never paid for;” but now have come to demand, after all the MONKEYS find leaders who will just GIVE the MONKEYS what they want then the MONKEYS will VOTE in these leaders.

    We now face the next step in the “GAS and FOOD Wars” being waged on YOU by the MONKEYS and their leaders KING MONKEYS.

    So do you have MONKEY’S on your back of is that just a large wart with many heads?

    Hey down fret just turn on your Tellie, the spin factors are working over time to tell you nothing is wrong, so just be HAPPY and don’t you worrie MONKEYS are easy to make happy, just tell them they are happy and that a nice warm crap in their hand will make them feel better.

    • Al Sieber

      TIME,Yeah and a loaf of bread will cost $200, but nobody believes that can happen here, people tell me that the Govt. wouldn’t let that happen, well it’s already happening. I quit wasting my time on people.

      • TIME

        Al,
        I got an email that noted that Gold will hit $1700.00 per oz by 2015.
        The way we are headed gold will hit $1700.00 Per OZ by this years end forget about 2015.

        How sad is it that “MONKEYS” run the show.

        • Al Sieber

          Well TIME, I’m working 24/7 and don’t have a lot of time to respond, but I’ll keep trying. a lot of people don’t wanna work, especially the ones with the signs that say, ” I’ll work for food”, bull $hit!! ever try to hire one of them?

      • Richard Pawley

        I don’t believe bread will go over $12 a loaf based on all I have studied for the past 22 years. Still it was $3 a loaf in Zimbabwe when Clinton was president in US dollars or Zimbabwe dollars and it was 11 TRILLION DOLLARS a loaf a little over a year ago. Got an email from a friend yesterday and he purchased two 20 Trillion dollar bills from Zimbabwe recently. It’s why many are preparing for he big inflations and learning to make their own bread.

  • Moonsi

    Folks just make sure you are equiped for these unusual times.

  • Raggs

    Gas rising to $5 a gallon maybe even higher and the media say’s NOTTA.
    Food prices rising by 20% or more and the media say’s NOTTA.
    Energy cost rising by 20% or more and the media say’s NOTTA.

    And people think we need four more years of obama… NOTTA!

  • http://com i41

    Raggs, notice the media didn’t put anything out and FOX only put it on the news 2 times yesterday on the report of USA having more oil, gas and coal than all ofthe middle east. I have been checking on other business channels and there isn’t a peep. Of course brain dead idoits like O’Rielly and a few other spout driving match box electric crap and beleive the global warming s–t. Other channels will never even say a world about this facts.When I called my congress persons the idea of $600 a gallon in a month-3 months is the plan. After the marxist muslim bastard gave Brazil to drill and build a mega refinery, wake you idoits, food is climbing and will only get higher. The report and commentator said even if the Onumnutt clowns would announce we are going wide open on drilling and pipeline construction prices for a barrel would drop by $50 in 2 days. No reason other states would have a boat load of cash like Alaska does right now.

  • http://charden@neo.rr.com Charles

    I won`t say who,but who is buying up your gold the last 2 years?
    If you don`t buy gold or silver, depending what you can afford, you are a damn fool. This is just a thought,the US owns more gold than any country in the world,Germany is second,and the Federal Reserve
    is third at 22%. The Univeristy Of Texas just bought up ONE BILLION
    DOLLARS IN GOLD BULLION.

  • http://charden@neo.rr.com Charles

    The time to buy gold is when the prices are going up. The time to sell
    is when the price is going down.

  • http://charden@neo.rr.com Charles

    People don`t be FOOLS and sell your gold.This is the time to buy.
    For those who have already sold has lost money in doing so.

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