In just less than 2 months, it has moved from a low of around $1500 to $1750+ (as of this writing) Gold is said to have become the unofficial reserve currency of the world! Uptrend intact with minor corrections along the way. Investors are loading up gold despite the fact that it's very much overbought at current level. Goldman Sach has put an immediate price target of $1860 while I do think that it'll hit at least $2000 in no time!
Gold rules! Staggering losses in stock markets around the world! More bloodshed if governments are unable to calm the markets!
Ok, I'm not trying to be vain or anything, but I grew up with gold as my play toys. Or rather, I love to slip them into my bedroom and sleep with them. Necklaces, bracelets, rings... jewelries of all kinds. You see, I was blessed with a very capable grandma who was a goldsmith. I used to live with her during my childhood and all I really needed to do was to open the cabinet while the adults were busy & I'd have had my 'toys' with me in no time. It's a cat & mouse game … more
It amounts to cash, need i say more? It's called Yellow Gold in the Orient but when it comes to Gold, I prefer White Gold :-) When it comes to cash, I don't really care which form they comes in as long as it's valid!
Prices will keep going up as a hedge against the weak dollar. Whether to buy it or not is up to individuals and how much spare cash you have. Afterall, all investments should be made because you have spare money and not because you are greedy. Gold is expected to go up to US$2000 or more by many capital market experts. Adjusted for inflation, the former high of gold is supposed to be US$2300+. If you ask me, gold might still double in future if the U.S. economy and dollar do not improve!
Gold (pronounced /ˈɡoʊld/) is a chemical element with the symbol Au (Latin: aurum) and an atomic number of 79. It has been a highly sought-after precious metal for coinage, jewelry, and other arts since the beginning of recorded history. The metal occurs as nuggets or grains in rocks, in veins and in alluvial deposits. Gold is dense, soft, shiny and the most malleable and ductile pure metal known. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. It is one of the coinage metals and formed the basis for the gold standard used before the collapse of the Bretton Woods system in 1971.
At the end of 2006, it was estimated that all the gold ever mined totaled 158,000 tonnes.This can be represented by a cube with an edge length of just 20.2 meters. Modern industrial uses include dentistry and electronics, where gold has traditionally found use because of its good resistance to oxidative corrosion and excellent quality as a conductor of electricity.
Chemically, gold is a transition metal and can form trivalent and univalent cations upon solvation. Compared with other metals, pure gold is more chemically unreactive, but it is attacked by aqua regia (a mixture of acids), ...