Gold Price

rancar · Feb 9, 2002

TBNetters -- Gold prices rallied strongly this past week with April Gold closing at $304.40. This is first time since Oct/1999 gold has been able to close over $300. I attribute this rise to fundamental factors as growing investor anxiety over Enron et al, growing tensions in the mid-east, and strong gold buying by the Japanese little guy (ie, crisis of confidence has developed in Japan, banks on brink of imploding). BTW, gold related mutual funds are strongest sector group YTD. You folks have any thoughts on where you think the gold price is going or thoughts on just the yellow metal itself?

Chuck52 · Feb 9, 2002

<font color=yellow>the yellow metal itself</font color=yellow>

It has a pretty high density. Would make nice compact tractor weights. Doesn't rust. I wonder if Bill Gates has a tractor.

Chuck

StoneHeartFarm · Feb 10, 2002

Still a long way from the days of the Hunt brothers.

SHF

rancar · Feb 10, 2002

If you used gold for tractor weights Chuck, someday they'll be auctioning your machine off at Sothby's.

rancar · Feb 11, 2002

No! Those guys dealt in silver. Silver will tag along for the ride when gold gets a head of steam to the upside.

Anonymous Poster · Feb 12, 2002

Ah yes. I recall when the price went wild and was approaching $1,000. I got a cold call from an investment outfit touting gold. The guy was obnoxious and called me all but stupid. In a last attempt short of hangin up I replied "call me back when it is at $300 where it belongs" A large gasp and he hung up. Two weeks later gold was right at $300. Why I picked that price I don't know. Wish I could predict stocks that well.

Harry K

rancar · Feb 12, 2002

You're probably only one of a a few who accurately called it right back in the 80s when it topped out. It peaked at around $850 around Jan/1980 and hasn't been back there since. But they say, bull markets die hard (as we see with US equities over the past 2 years) and bear markets get re-born. We'll see in time if this holds true with gold.

Ken · Dec 1, 2011

I know this is a old post
But did anyone buy gold when it was $300 in year 2002

Is anyone buying gold today for future investments.?
ken

texasjohn · Dec 1, 2011

didn't buy then ,not buying now, can't eat it ,can't use it , but it is pretty!

houstonscott · Dec 1, 2011

Gold has not risen in price, your money has dropped in value, and considering the Fed is going to print 7T more for Europe gold will continue to rise. The rule of 16 has not caught up for silver, normal value of silver is 16% of gold. Silver should be at $280. I think gold has a potential to go to 8K, the adjusted value for when it went to $850 in the 80's.

HS