Comments on: US Debt Rating & Spot Gold Price

By: Silver Nuggets

Silver Nuggets — Thu, 28 May 2009 17:30:36 +0000

Goldbugs always rally against those who say anything derogatory about the antique. The dollar is the current which frustrates the goldbugs as they read their newsletters explaining that the Government printing presses are melting down from overuse, inflation will be rampant, blah, blah, blah. But never the less the majority of the world no longer sees gold as a hedge against anything.. Arizona silver

By: Crystalline leaf

Crystalline leaf — Thu, 28 May 2009 17:30:01 +0000

COMEX gold is being maniuplated by the Fed through a couple bullion banks. They are doing a fine job of keeping gold down and everyone flooding into it. But, eventually gold is up because even the Fed will eventually use it to cut the US debt in half or more by revaluing gold to the dollar. Only, they will do it when they feel it is time to do it. Until then, gold will be stuck in the range of 750 to 900 dollars. Unless, Chinese or middle eastern folks take advantage of golds low price and start buying it on the COMEX with the intention of taking delivery. Then the game will be over for manipulation by the Fed. So, either the Fed will eventually cause the price of gold to go to four figures on their time table or some foreign entity will get into the game before that happens to keep from loosing dollars when the Fed does it. Crystalline gold nuggets

By: California gold nuggets

California gold nuggets — Thu, 28 May 2009 17:29:18 +0000

So I'm confused! Is the price of gold going UP or DOWN?! If gold can't go through the roof during a 'global fiat currency' freakout, or credit crunch, debt bubble burst, whatever, then when? My sense is that the deflation demon will finally take out gold ('goes up on an escalator and comes down in an elevator'!) I also agree with whomever said gold was a good hedge against inflation NOT recession. The hysterical chatter about an inflation time bomb going off is exactly that... I'd say gold will hit $500 well before it hits $2K. Crystalline gold