Gold Drops Below $800 … Time To Get In?

Gold contracts dropped $8.70 today to close at $799 an ounce on the Comex. Charlie Supapodok, a hedge fund manager said: "It's a normal correction in a healthy bull market, The gold price has been vulnerable to the rally in the U.S.  currency seen over the last few days as the greenback bounced back from record lows against the euro."

Mr. Supapodok also says a decline to $760 is very possible, but he expects prices to find chart support around that level before resuming an upward trend. [tags] spot gold price, gold, gold price, gold value[/tags] Pyrite  silver coins 

$100-a-barrel crude oil and $1,000 gold?

A few years ago, $100-a-barrel crude oil and $1,000 gold would have seemed completely ridiculous. But the markets are on the cusp of grasping the former, and at this rate, the latter isn’t too far off.

Many experts will tell you that precious metals are a good way to diversify for your portfolio, particularly as a hedge against inflation. But as with any investment, they advise against putting too much money in one basket.

Over the long term gold is apt to hold its value — it’s one of the oldest forms of currency, after all — but in the short-term, it can be very volatile.

"When the value of the dollar drops, the price of gold goes up. It's all about the value of the U.S. currency," said Steve Borell, executive director of the Alaska Miners Association.

Borell said gold will likely keep climbing in value, especially as the U.S. debt grows because of war spending. Borell speculated that if the U.S. goes to war with Iran, gold prices will soar to all-time record highs.[tags]spot gold price, gold,gold nuggets, gold prospecting[/tags] gram scales

Gold Ready To Set New High Price?

As I write this, Gold is at $807.30 and the power of this current move seems to a long way to go.

"I think that long term the market is predicting further drops by the dollar and is looking to play the big moves through long side gold," Oxman said.[tags] gold, spot gold price, gold price, gold value, gold nuggets[/tags                Crystalline gold

Gold Rises Above $800

Gold went over $800 an ounce today. Gold is up 25 percent this year as the Federal Reserve cut interest rates twice to ease strains in financial markets, sending the dollar to the lowest ever against the euro. [tags]gold,spot gold price, gold investment, gold nuggets[/tags] Australian gold nuggets