Gold reaches all-time high

[garybeck]

Correct me if I'm wrong, but the previous high for gold was $1002.80/oz and today it briefly went over $1005/oz.

It would appear that the inverse relationship between the stock market and gold prices seems to have come back. That was the norm for years, but for the last few months it seems they were going up and down together. The last week has seen a sharp drop in the stock market and a sharp increase in gold, signaling a possible return to the previous relationship.

[no_hypocrisy]

1. It was 750 maybe a month ago.

[enid602]

2. not so great

I believe the all-time high took place in the late '70's. Parity is not a great return after 30 years.

[garybeck]

3. incorrect

the high of $1002.80 oz was one year ago -February 08.

in the mid 70s it hit ~$700 or so briefly:



gold has tripled since the year 2000. how anyone could think that's not a good investment considering EVERYTHING else in the economy....?

it is "not so great" if you're invested in anything else.

[Renew Deal]

4. Is there really enough gold to cover all these sales?

It wouldn't surprise me if the Gold market was like the Credit Default Swap market. Gold sellers don't expect to ever have to deliver all the bars at once.

[garybeck]

5. a few months ago it was very difficult to buy gold

all my local coin shops were out. even kitco.com had to stop sales on most coins. I imagine something similar is happening (or about to happen). currently kitco has most of the coins available but they have this message ontheir website:

High Activity Market Alert
The precious metals industry is experiencing a substantial surge in activity which may cause delays. We apologize for this inconvenience and are working hard to get you your package as soon as possible. From the date your funds have cleared to the time you receive your order can currently take 3 to 4 weeks.

[DemReadingDU]

8. Do you have to buy gold coins online?

Or is online, the only places who have the gold?

[GoesTo11]

6. I recommend buying gold!

It has just been going up while everything else goes down. That is a great investment. $1000 today, probably $2000 by 2012. That'll cover some nice private school for the kiddos.

[CoffeeCat]

7. How do you buy gold?

What do you do?

Where do you go?

[bentley]

9. You can

Buy gold online or from your local dealer. Kitco is a great place for information, check out their gold forum. Online sites - Bulliondirect, Apmex and even Ebay. There are other companies, just google "buy gold."

If you are thinking about buying gold, wait for a pullback, gold is overbought right now, my opinion. It seems the MSM is talking about gold more and hyping up the market, last year when gold hit $1000.00, there wasn't a big media play on the news. I also think the fear factor is quite high(rightfully so) but nothing goes straight up and we will have pullbacks. Think about dollar cost averaging into the gold and/or silver market and only use money you don't need short term. Gold is like any other investment - risks are involved and you could lose money. For me, it's like buying insurance, in case the system collapses, I also have extra food and supplies. Good luck-

[truebrit71]

11. I buy mine through Apmex...

..getting it on e-bay is fine, but the shipping and insurance costs make it more costly...

[bhikkhu]

10. There are environmental consequences

Gold mining is one of the most toxic and destructive industries there is. The people involved are prone to setting up a company, destroying whatever area needs to be destroyed to make their profit, paying themselves handsomely, then declaring bankruptcy. Before any expensive clean-up can be ordered, the company evaporates.

I wish the "gold bugs" who call themselves Democrats would look into the consequences of their enthusiasm. In any case, you can't eat gold. There's good cause to consider the benefits of investing in food first.