Gold Tops U.S. $1600 For First Time In 7 Years

[Steve Herschbach]

Back up to over US$1750 today.

Gold hit an all-time high of $1,917.90 per ounce in August 2011. We are only $168 away from breaking that record.

 

[GB_Amateur]

The gold to silver (price) ratio recently hit an all time high.

 

[DolanDave]

1 Ounce US Mint $50 American Eagle Gold coins are all sold out everywhere I look. On ebay they are selling above $1800 an ounce, close to $1900.

[Steve Herschbach]

4 hours ago, kiwijw said:

Even if it does break through that figure is it really an all time high?

Yeah, it really is. That’s how all time high prices in dollars is measured. The buying power of the dollar is something else but does not change the fact that US$1920 an ounce would be a new record price in U.S. dollars.

[klunker]

 Now is the time for  major decisions. Do I hang on to my gold in hopes of higher prices or sell before the price drops. And if I did sell What would I do with an extra $9.35

 Life is always full of tough choices.

[Steve Herschbach]

Well don’t I feel silly now, going on about the price of gold as if it mattered at all to anyone. Thanks for setting me straight John.

[Jim in Idaho]

Try going to the supermarket and buying anything with your stock market shares...LOL That argument is meaningless.

Jim

[oneguy]

JW mentioned "You generally can't buy anything with gold."....  I traded 1 ozt for $1400 worth of dental work recently.  Asked my dentist if interested in a trade and he jumped!  In Alaska you can buy damn near anything with gold, including raw wild gold.  There's a lot of "gold bugs" out there that are very willing to buy or trade for gold....so don't completely discount gold as a means of monetary exchange.   jmo

[Steve Herschbach]

My old shop in Alaska we would take most any raw placer gold in trade for anything we sold at 80% of spot price. 

[Jim in Idaho]

I'd happily take gold for my machining services, or sweep jigs, gem jigs, or anything else I make and sell.

Jim