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Replies to Msg. #1262866
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 Msg. #  Subject Posted by    Board    Date   
07078 Re: Gold
    		De_Composed   GRITZ   16 Apr 2025
 2:16 PM

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Re: Gold

By: De_Composed in GRITZ
Wed, 16 Apr 25 12:57 PM
Msg. 06830 of 07427
(This msg. is a reply to 06570 by De_Composed)
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Less than a week after hitting $3,200 for the first time, gold passed the $3,300 milestone! While gold has had several hundred dollar days in its past, I don't think it's ever hit successive new-high milestones this quickly.

I first bought gold for $325/oz. If I still had it, it would now, finally, be a 10-bagger (in 20 years.) A real shame about that boating accident... While many investments have done better than that in the same period, gold isn't really an investment. It's insurance. As such, it has done very well.

Several analysts are now predicting $4,000 this year.

It was just announced that India wants to increase its imports from the U.S. to eliminate its trade surplus and dodge our tariffs. But the U.S. imports they're interested in are commodities - particularly gold and silver - and jewelry. That may explain today's jump.