Money – U.S. gold futures rallied to a record high of $1,000 an ounce on Thursday.
Gold bugs have been waiting for this to happen for almost two decades now. Not sure there's any reasonable metrics for reliably predicting what will come off this trend, but it sure does seem fairly consistent.
Of course, buying jewelry is probably the dumbest kind of gold investment conceivable - if you're really into it, go for gold bars and, to some extent, currency coins that can easily be leveraged in an emergency.
As for selling your jewelry now, it's nothing but a bet - win some, lose some.
I have been buying, on average, between 1 and 1.5 ounces of gold every month since it became legal for Americans to once again own the shiny stuff at an average price of $323.00 a troy ounce and while the current price is certainly attractive I don't intend to sell. As Grrr stated above the price of gold is going to continue to climb and it could even possibly top $1500 a troy ounce or better.
Good suggestion grumblingsanta about the purchasing of gold coins and bullion and to that I would add the purchasing of Fine .999 Round Wire in both 20 & 22 gauge as I believe it offers greater flexibility should the need arise to part with some of it. I also run the wire through a shallow pan of a plastic tool dip and then spool it up just like electric wire.
I also recommend doing the same with silver as its price will also continue to climb.
Gold wire - hey, I never thought of that one: excellent idea! The only problem I could envisage with that is that it might be hard to prove it's real in a pinch, but then it'll probably be the same story with other forms of gold including coins.
And yes, silver and platinum are excellent alternatives/additions to any precious metal based portfolio.
Instead of hoarding gold maybe we should figure out what the Hell happened to our economy and who is responsible.
*hint* NEOCON MALFEASCANCE.
Our once proud system is breaking down to "every man for himself" and only the ULTRA-WEALTHY can win with those rules...
That's WHY the corporate Big Banks/Arms Dealers (and a few others) crashed America's economy.
Being the only ones with available cash they will now use it to buy up our entire infra-structure to control us (and get away with criminal acts) even more.
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wow, I bet even more people will be running to the jewelry stores chains in hand
http://www.luxist.com/2008/03/07/gold-prices-pr...
Don't do that!! Save your gold!! You ain't seen nothin' yet!
Once the pending real crash happens and Congress finally holds the Feds feet to the fire and we find out that there are NO US GOLD RESERVES ANYMORE, you'll see gold go to something like 20 times that in US dollars.