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Price of Gold August 2 if debt limit not raise?

Discussion in 'The OT' started by yosoyellobo, Jul 28, 2011.

  1. yosoyellobo

    yosoyellobo Icon

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    Looking ahead to next week debt limit deadline I believe the best way to find out how close we are to the Apocalypse is the price of gold. It is currently at about $1616 an ounce. If the debt limit is not increase August 2 my guess is that it may go up to $2400. For the record at the current price I might be able to afford a gram or two:)
     
  2. spartanstew

    spartanstew Dry as a bone

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    I could afford 1/4 ounce.




    Hmm, reminds me of college for some reason.
     
  3. yosoyellobo

    yosoyellobo Icon

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    Took me awhile. Got you.
     
  4. chevyguy559

    chevyguy559 Fresno State Bulldog!

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    :lol::lol:
     
  5. WestDC

    WestDC Well-Known Member

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    There is NO drop DEAD DATE !
     
  6. Getteau

    Getteau Icon

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    Call me jaded, but I see both sides dragging this out shouting "default" every chance they get in an effort to try to gain political advantage. Then, like usual, they'll pass some token gesture at the last minute and the debt ceiling will get raised. At which point, the speculators will dump gold and it's going to fall through the floor.

    If for some bizarre reason it doesn't get passed by the "deadline,” I would expect gold to rise sharply and then drop just as fast taking out all the suckers in the process.

    I’m just thankful there is a tropical storm in the gulf right now so at least my local stations have found a new shiny object to focus on and have pushed this nonsense aside for a few days.
     
  7. Aug 2, 2011 #7 of 15
    yosoyellobo

    yosoyellobo Icon

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    Price of gold close at $1,654. I would have been up $2.68 if I had brought the two gram I could afford.:)
     
  8. Aug 3, 2011 #8 of 15
    Rich

    Rich DBSTalk Club DBSTalk Club

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    I've been considering buying a bunch of gold, but with my luck it would be down to $100 an ounce in a few weeks. Went thru that with silver back when it went berserk. Lost a lot of money I couldn't really afford. If it goes up another $20 an ounce I'll finally get my money back, more than twenty years later...:lol:

    Rich
     
  9. yosoyellobo

    yosoyellobo Icon

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    Gold price up to 1852 a ounce. Anybody have any idea how high it would go before the Canary dies?
     
  10. Rich

    Rich DBSTalk Club DBSTalk Club

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    I could buy some, that would drive the price down quickly with my luck....:lol:

    Rich
     
  11. yosoyellobo

    yosoyellobo Icon

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    Certain things in life are beyond our control. Another one is always getting on the longest line in the super market.:)
     
  12. Chandu

    Chandu Hall Of Fame

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    By the time the ill-conceived € currency meets its deserved death, I feel gold would've hit $2000 an ounce. (But that's just my personal thinking, don't take it as any investment advice! ;-)
     
  13. Nick

    Nick Retired, part-time PITA DBSTalk Club

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    Buy high, sell low. I thought gold was too high when it was $440/oz ... waaay back in the day! :sure:
     
  14. phrelin

    phrelin Hall Of Fame DBSTalk Club

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    +1

    Of course back then, as now, I couldn't figure out why ordinary people will pay that much money for something they can't eat, wear, drive ... unless your hobby is making jewelry.

    Money is, after all, nothing more than a convenient substitute for barter. Gold isn't that convenient.;)
     
  15. Rich

    Rich DBSTalk Club DBSTalk Club

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    My wife would argue that point with you. I don't get it, but she sure does...:lol:

    Rich
     

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