Gold Rallies To Record High

[Patch]

http://websearch.cs.com/cs/boomframe.jsp?q...record-ounce%2F

Gold prices rallied to record highs above $1,600 an ounce Monday on fears that debt problems in Europe and the United States may spiral into a global crisis.
Major Market Indices

Gold, typically seen as a safe haven in times of economic trouble, has risen 8 percent in 11 days as President obama and Congress have failed to reach an agreement to raise the nation's $14.3 trillion borrowing limit. With the clock ticking toward an Aug. 2 deadline, investors have turned to gold at the expense of riskier assets such as equities and commodities.

This indicates the risk seen by world markets in our failure or unwillingness to address our run away spending.

Slàinte,

Patch 

[CelticSpecter]

I wouldn't be surprised one bit if the price of gold exceeded $2,000 an once with statements of $5,000 an ounce not outside the realm of reality in these troubling times.

With Cloward and Piven's "Crisis Strategy" being pushed by every progressive known to man to the forefront. It is no wonder that no one has faith in the United States any longer. We are cutting our own throats with gleeful abandon. All in the name of Obama and his ilk.

[coastman]

My wife and I are meeting with our financal planner on Friday. I have already moved my investments to a T. Rowe Price conservative fund. My IRA is in a credit union account. My 401-K is in conservative plan. I did that when Obama became President. This move saved me from loosing thousands of dollars. I do not own any gold as an investment. I am 67 and my goal is to protect my investments from the President and Congress.

[Patch]

Just look at todays markets! As I type they are pleading on Fox news to remain calm and stay invested in the markets.

I believe we have yet to see the highs re: metals pricing. I purchased a complete sterling table service for 16 for $10. It was very old so the knife handle weight is "silver" not base metal. If you keep your eyes open these buys are still out there. This may the best buy I have ever made.

Between pricing of precious metals and the markets it would seem to indicate that crisis and calamity are both just around the corner.

COASTMAN--Those who made changes between 2005 and forward did fairly well. Gold is not for everyone. I see silver as the average persons "investment metal." The silver I mentioned above was purchased at a yard sale and minus the smelting/casting charge will net between $3800. and $3900. in one oz silver bars, maybe even a bit more. I am going to list it as an antique table service just to see what the value may be that way.

I do not spend week ends at garage sales but found that I can spot potential silver from the street. Anyone can do the same.

Happy hunting!

Slàinte,

Patch

[coastman]

I have thought that silver was the best precious metal venue for the average investor. I fish on the weekends. My wife does yard sales and estate sales with her best friend. I will inform her to start looking for silver items. Our silver place setting we received on our wedding day 45 years ago is some type of silver. It is Hampton Court and it was expensive in 1966.

[Patch]

Look for the word Sterling to be stamped on it or the number .992 That meets the requirement for sterling silver. Without either of those designations no one will melt it down.

Slàinte,

Patch