Originally Posted by WDB
Not unexpected but I didn't think it would jump this high this soon.
I wonder how high it will go? I have been thinking of selling what I have but if the dollar continues to weaken then any gain could be lost. Gold has always been a fair investment but I've never seen it go up like it has. I haven't bought any in the past year due to the prices, thought it was just a spike but it looks like that spike is still on the climb.
They claim that gold may go as high as $1500.00 an ounce by mid next year. Of course these are the places like Monex that sell gold and other precious metals. Today gold is at $1116.00 an ounce and that is up $9.00 from yesterday. Silver is interesting as it is $17.54 today and that is up 0.16 cents from yesterday. These prices may have moved up or down a bit since I looked this morning. Earlier this week silver was close to $24.00 an ounce I believe and may exceede $21.00 an ounce by end of week.
India bought just recently 200 metric tons of gold from the IRC to fortify their reserve. In dollar value at their time of purchase that is $6.7B.