Smarty_Pants

Gold Is Set to Regain Its Shine

What's this? Gold currently passing $810/oz?

Say it isn't so. Up over $30/oz just this morning.

If you're desperate to buy physical gold but can't find any in your local coin shop, try a local pawn shop. They buy scrap jewelry every day. Offer them spot for the gold content and they will probably be happy to sell. If you're careful about the purity of what you buy it's a good way to 'find' gold when it's scarce. Avoid most 10 carat stuff, stick with 14 carat or 18 carat. It's not a Kruggerand, but it's better than nothing.

Gold Is Set to Regain Its Shine

"After it's spike to $785, Gold immediately fell $20 to the Friday close."

And several hours later it was right back up to $780 again where it stayed for much longer than it 'stayed' at Friday's close.

And this ignored little tidbit of foreign news doesn't imply much in the way of support for the dollar either:

"China held $447.5 billion of US agency bonds as of June 2008....(and are) likely to reduce the portion of reserves in dollar assets from the current 60 percent by purchasing more non-dollar assets with new reserves."
China Daily, Sept. 15, 2008

Gee, maybe the Chinese are going to buy a little gold with the billions of trade surplus dollars we send them every year.

Even if they just trade their dollars for Euros or Swiss Francs it will push the dollar down.