Oh my gawd~~! Gold broke the 1200 mark!!!
By ahgong
@ahgong (10064)
Singapore
December 1, 2009 8:47pm CST
The gold price for the past six months was steadily increasing. After it broke the US$1000 per ounce mark, the price of gold being traded has been steadily increasing.
With the recent announcement of the Dubai debt debacle, the US dollar has been traded in a frenzy! Gold went to new highs at the close of last week. Beginning of this week, it broke the US$1200 mark. And looking at the charts and the news of the various Banks around the world and how they are reacting to this debacle, gold price is set to rise further!
This is not helpful at all. Cos with an increase in gold prices, it means that the US dollar is fast losing it value as well.
This would also indicate that inflation is going to rise as well! Longer working hours, same pay and increasing inflation... life certainly is not getting any easier.
I wished I had picked up the skills of reading the charts earlier. Cos if I had money right now, I would park it in gold and let it grow for some time. Sure beats putting that money in a bank that earns near to zero interests year after year!
1 person likes this
3 responses
@kun2349 (23381)
• Singapore
2 Dec 09
hahaha =D What goes up must come down someday!! Dun worry about the inflation now, for it's nothing compared to the day gold prices starts to drop!! haha =D
IMagine how much damage it can do to ple, especially for those investors and those mountains of debts incurred to pay off the losses?? haha =D 
THe higher the pries goes up, the worse it will be for ple like us now.. There's nothing we can do, but to prepare for it.. And it's never stable to enter a gold market, unlike the past few years when gold is still at its lowest point.. haha =D
THe higher the pries goes up, the worse it will be for ple like us now.. There's nothing we can do, but to prepare for it.. And it's never stable to enter a gold market, unlike the past few years when gold is still at its lowest point.. haha =D @ahgong (10064)
• Singapore
2 Dec 09
Well, with the rate that the US dollar is sliding, it will raise much much more before it will drop down again!
This year, the price of gold has already raised by USD$300 since the start of the year.
Compared to three years ago, the price of GOLD had doubled!
Can you imagine what the price will be next year?
Looking at the charts, the bull for gold has not lost his steam yet!
1 person likes this
@ahgong (10064)
• Singapore
3 Dec 09
Really? What are the new trends these days?
Diamonds? Silver? Crystals?
I am sure gold price will go down. The question is a matter of timing. How long will it continue to rise before everyone in the world says "Hey! Enough... gold expensive! Let's start selling!".
Like I said, if the DOLLAR continues to slide, gold will be in even greater demand!
@kun2349 (23381)
• Singapore
3 Dec 09
lol =D Well, i guess gold will keep on rising, as long as the demand is there.. But i believe the bubble willl burst soon, because the price is getting too high..
Even for indians whom are getting married, they are no longer buying pure gold, instead there are some mixtures of other things to get the required bling bling.. haha =D
1 person likes this
@squaretile (3778)
• Singapore
3 Dec 09
now the thing in our lovely little island is still property.
the market is still a bit crazy in my opinion but people are still parking their money there cos they believe that in the long run property will always make money.
wish i had time and energy to go and read up time series data on property trends. so as to know how much of a high we are currently on.
whatcha doing with your spare cash these days? banks really paying peanuts.
@ahgong (10064)
• Singapore
3 Dec 09
Property right now is a little out of my league!
So... investing in them will have to take a little while while I gather my capital to do so.
Yeah, banks are really paying peanuts these days. Heck, with the amounts I have in the bank, the interests cannot even afford peanuts!
I am actively seeking alternative to park my money. Other than property, what suggestion have you?
@gitfiddleplayer (10362)
• United States
2 Dec 09
Investments are always better when you get in on the ground floor while they build up, I guess with gold being the only solid commodity on traders books the dollar will either have to bounce from the bottom up or it will get lost in the paper race. I hope that we don't see an inflation too high, at least we can get Obama out of the casa blanca and get some conservatives in there.
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