Author Topic: Gold Price Record High (Read 246 times)

Gixer · « **on:** September 27, 2003, 04:54:54 PM »

Gold Price, heard that the increase of late is partly due to the terroists now using gold as their main source of cuureny since all thier swiss bank accounts are locked up by Uncle Sam.

Anyone else heard of this?

...-Gixer
~Hells Angels~

Sixpence · « **Reply #1 on:** September 27, 2003, 05:30:22 PM »

I believe it shows a lack of faith in the dollar

capt. apathy · « **Reply #2 on:** September 27, 2003, 05:54:21 PM »

it's more likely the economy. gold tends to go up when the economy goes down. it's not an exact coralation, but it basicly works.

john9001 · « **Reply #3 on:** September 27, 2003, 05:57:18 PM »

it,s not a record, gold was once over $800

Sixpence · « **Reply #4 on:** September 27, 2003, 06:02:58 PM »

Quote

Originally posted by capt. apathy
it's more likely the economy. gold tends to go up when the economy goes down. it's not an exact coralation, but it basicly works.

That's what I was trying to say, I remember back in the late 70's when the economy was bad, gold was very high.

capt. apathy · « **Reply #5 on:** September 27, 2003, 06:24:44 PM »

yep, it would make a great investment for me. as I usually make almost double the income when the economy is good (and I have money to save) and when the economy is bad my investment value climbs.

the only problem is the brokerage fee, the last time I bought any gold it was 6% on either end of the transaction.

out of 12k worth of gold I only made $400 profit after 8 months.