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Gold and Platinum at record levels

lil dickie said: "A record level has been achieved for Gold and Platinum....with lows on the [url=http://www.bloomberg.com/apps/news?pid=20601087&sid=athjTgCJeXmM&refer=home]dollar[/url] [quote] Gold and platinum rose to records and silver extended its rally to the highest in 27 years as a declining dollar increased demand for precious metals as alternatives to stocks and bonds. The dollar fell as traders increased bets that the Federal Reserve will lower U.S. interest rates to avoid a recession. Gold has gained 9.4 percent this year and the dollar is down more than 2 percent against the euro, to a seven-week low. [/quote] So Gold is at its highest in the last 27 years. If you held from 1980 on...would gold have been a good investment?"

newinvestor123 said: "[QUOTE=lil dickie;61213]So Gold is at its highest in the last 27 years. If you held from 1980 on...would gold have been a good investment?[/QUOTE] Sort of like asking if you held onto tech stocks from 2000 on, would they have been a good investment. People who bought at the top bought on emotion, and they got burned - Which will happen with any investment in a bubble, regardless of what it is. Gold has now outperformed stocks on 10, 5, and 1 year timeframes, so I guess the question could also be: [I]"For the last ten years, has gold been a better investment than stocks?" [/I] Yeah. It has. All the gold bashers will quietly retreat when it passes $1k/oz and their favorite investment advisors on Bloomberg and MSNBC start talking about it. I expect a correction before then, but ya never know. Did you know that a Chinese gold futures market just opened up, and it's trading at $1k/oz there already?"

AlfredSokol said: "If you buy now you're buying at the historical high. Sounds plenty risky to me."

Maverick Investor said: "I saw this coming and bought in 2003, I think it was, at $325. I'm just gutted that, due to a short-term cash squeeze, I sold in the autumn for $735. Not a bad return, but the move north of $1,000 is the one I was playing for. Ah well. If it does correct, I'll get in again. Cheers!"

newinvestor123 said: "Looks like the correction has begun. I'm looking for gold to trend down into the $800-$850 range and consolidate there for a while, but then again, it seems just about anything can happen right now..."

AlfredSokol said: "Anything can and probably will happen."

Airelon said: "[QUOTE=Maverick Investor;61249]I saw this coming and bought in 2003, I think it was, at $325. I'm just gutted that, due to a short-term cash squeeze, I sold in the autumn for $735. Not a bad return, but the move north of $1,000 is the one I was playing for. Ah well. If it does correct, I'll get in again. Cheers![/QUOTE] Was that a Futures contract? ? ? ? ? ? ? ? ? ? ! ! ! ! :whacky011:"