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- May 17, 2005
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Yes, I said a bad word ... out loud. I didn't mean to, but I couldn't help it.
I like to watch gold. I own a fair bit, but not enough to make me rich. It's my hedge in case of currency collapse.
So gold has been languishing around 800 ish having fallen from its high of just over $1000. It seems to have fallen by nefarious means since supplies remain tight and yet paper gold is abundant (i.e. contracts on gold which may or may not exist are fairly easy to print and so are as abundant as they need to be). But when the Fannie/Freddie deal was announced it started to rise again. Then on the Sunday of the Wall St. meetings it jumped up $17.
Today gold jumped up $94 in 5 hours. Holy F***!!!
In USD it's about $780 to $870
I like to watch gold. I own a fair bit, but not enough to make me rich. It's my hedge in case of currency collapse.
So gold has been languishing around 800 ish having fallen from its high of just over $1000. It seems to have fallen by nefarious means since supplies remain tight and yet paper gold is abundant (i.e. contracts on gold which may or may not exist are fairly easy to print and so are as abundant as they need to be). But when the Fannie/Freddie deal was announced it started to rise again. Then on the Sunday of the Wall St. meetings it jumped up $17.
Today gold jumped up $94 in 5 hours. Holy F***!!!
In USD it's about $780 to $870