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Offline bijou

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Gold hits record high
« on: October 06, 2009, 09:55:27 AM »
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LONDON (Reuters) - Gold hit a record high at $1,036.40 an ounce as the dollar dropped on a report, later denied, that Gulf Arab states were considering abandoning the U.S. currency for oil trade.

A positive technical picture for gold fueled buying on the fund side, traders said. However, the weight of near-record long positions in New York gold futures still leaves the market vulnerable to correction.

Spot gold was bid at $1,032.05 an ounce at 1319 GMT (9:19 a.m. EDT) against $1,016.65 late on Monday. ...
http://www.reuters.com/article/hotStocksNews/idUSTRE59534Z20091006
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Offline bkg

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Re: Gold hits record high
« Reply #1 on: October 06, 2009, 12:57:19 PM »
wish I had $$ to invest in gold right now. Wonder if I could turn an old 401K into a self directed IRA and just buy gold.... hmmmmmmmmmmm
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Offline bijou

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Re: Gold hits record high
« Reply #2 on: October 06, 2009, 01:09:46 PM »
Quote from: bkg on October 06, 2009, 12:57:19 PM
wish I had $$ to invest in gold right now. Wonder if I could turn an old 401K into a self directed IRA and just buy gold.... hmmmmmmmmmmm
That would work only if it is not at the top of the market, one theory has it going up to $5k per ounce but it would be a big gamble.
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Offline Lacarnut

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Re: Gold hits record high
« Reply #3 on: October 06, 2009, 01:15:53 PM »
Quote from: bkg on October 06, 2009, 12:57:19 PM
wish I had $$ to invest in gold right now. Wonder if I could turn an old 401K into a self directed IRA and just buy gold.... hmmmmmmmmmmm

I think you could. Goggle gold for sale. There are quite a few companies like Kitco, Blanchard, Gainesville, Tulving, etc for investments in coins and bullion.
 
I transferred part of my 401 into a Scottrade account. From there you can invest in gold stocks, mutual funds or exchange traded funds.

Note: Silver is also a great investment and has increased in value more than gold has in the last couple of months. For example, gold is up 2.25% today while silver is up 3.9%.
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Offline Hawkgirl

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Re: Gold hits record high
« Reply #4 on: October 06, 2009, 07:15:27 PM »
This makes me smile since I bought heavily into a couple of different gold stocks last year. time to check my TDAMeritrade account. :-)
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Offline rich_t

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Re: Gold hits record high
« Reply #5 on: October 06, 2009, 09:24:48 PM »
Quote from: bkg on October 06, 2009, 12:57:19 PM
wish I had $$ to invest in gold right now. Wonder if I could turn an old 401K into a self directed IRA and just buy gold.... hmmmmmmmmmmm

I am investing in something even better.

AMMO.
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"The American people will never knowingly adopt socialism. But, under the name of 'liberalism,' they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened." --Norman Thomas, 1944

Offline bkg

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Re: Gold hits record high
« Reply #6 on: October 06, 2009, 09:28:01 PM »
Quote from: rich_t on October 06, 2009, 09:24:48 PM
I am investing in something even better.

AMMO.

Ahhh - the two metals that will be worth more than gold... Brass and Lead.

I tell ya, I wish I had $100K to invest in Ammo about 16-20 months ago. I'd be a rich man.  :-)
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Offline Hawkgirl

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Re: Gold hits record high
« Reply #7 on: October 07, 2009, 12:04:09 AM »
I read an article yesterday that stated Walmart has had to ration ammo.  They're calling it the Obamarush.
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Offline bkg

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Re: Gold hits record high
« Reply #8 on: October 07, 2009, 08:41:23 AM »
Quote from: Hawkgirl on October 07, 2009, 12:04:09 AM
I read an article yesterday that stated Walmart has had to ration ammo.  They're calling it the Obamarush.

Wal-Mart here in MN gets ammo about what seems like 1x month. Usually lasts about 2 hours. Been an issue for about 8 months.
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Offline docstew

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Re: Gold hits record high
« Reply #9 on: October 08, 2009, 12:08:52 PM »
Quote from: bkg on October 07, 2009, 08:41:23 AM
Wal-Mart here in MN gets ammo about what seems like 1x month. Usually lasts about 2 hours. Been an issue for about 8 months.

IOW since late January?  I wonder what happened then to cause such a large increase in demand? :sarcasm:
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Offline bkg

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Re: Gold hits record high
« Reply #10 on: October 08, 2009, 12:13:36 PM »
Quote from: docstew on October 08, 2009, 12:08:52 PM
IOW since late January?  I wonder what happened then to cause such a large increase in demand? :sarcasm:

It actually started getting bad about a year ago. Correlation? Causation? You decide. ;)
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Offline JohnnyReb

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Re: Gold hits record high
« Reply #11 on: October 19, 2009, 01:01:39 AM »
AMMO may be a bad investment unless you actually 'expend' a little of it.

Do you plan to 'spread' the AMMO around?

 :-) :-) :-)think black ops.

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“The American people will never knowingly adopt socialism. But, under the name of ‘liberalism’, they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened.” - Norman Thomas, U.S. Socialist Party presidential candidate 1940, 1944 and 1948

"America is like a healthy body and its resistance is threefold: its patriotism, its morality, and its spiritual life. If we can undermine these three areas, America will collapse from within."  Stalin
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