Does anyone know why gold has gone up so much in the few days?

Discussion in 'Economics' started by morganist, Jul 17, 2011.

  1. Has it got something to do with the Debt Ceiling?
  2. That and possible QE3
  3. Silver hasn't gone up as much, which is the main indicator of currency debasement fear.
  4. One factor may be some lawmakers in the US pushing for an audit of reserves. They claim reserves are not as high as reported. On the contrary, I think the US has more gold than it reports and this is the reason they do not like audits.
  5. I am confused. Why would they not want people to know their reserves if they are high? surely that would be beneficial.
  6. In the early days of the 21st century, people routinely took a part of every paycheck and bought stock mutual funds. Just about every other ad on TV was for a mutual fund.

    Now it's getting that way with gold. They buy and they never sell.

    But the big money is probably a hedge against the dollar. Especially now when no currency looks strong.

    As for me and gold? I've been scared ever since the crash from $350. That was back in the 1980's or 1880's, I forget.

    Like they say, "Once a cat sits on a hot stove it will never sit on one again. And it won't ever sit on a cold stove either."
  7. No.
  8. Stop right there...
  9. Better: Why not choose/waitfor the moment of highest benefit?
  10. If you are that young to remember 1880's I think you are a big winner, and we wish you another century of good life!:)
    #10     Jul 17, 2011