Gold went to an all time high this week!

I would totally agree with you if you are buying the physical gold to keep. And then pawning them off now to gain a good profit. But in the world of trading gold, there is no such thing. When you are trading gold in the commodities market, you can either buy low sell high, or sell high buy low. Either way, if you catch the right timing for entry, you will be able to make good money. Yes, I am just exploring the world of investing, and studying the charts right now. Still no balls to put any real money down yet. That is why I am sharing some of the information I see and read from the charts. The main reason why gold has been getting more expensive the past few years, is because of the weakening dollar. Remember, the US dollar is not backed by any thing other than a strong economy. So, in the event the US economy is not doing well, everyone finds insurance in holding onto gold. That is why the co-relation between gold and the dollar is always there. When the dollar weakens, the gold will go up. And the weaker the dollar, the stronger the gold. And yes, it broke the $1000 mark this week. And looking at the charts, it is going to stay above the $1000 mark for a while, barring any economic news outbreak. That is why in the other discussion we spoke about gold, if you are buying physical gold to keep, this is not the best time to do so.

I actually had a picture attached to this discussion. I wonder what happened to it.

YEah, but comparing to trading, i find it better to be keeping the physical thing on its own.. haha =D Especially gold coins.. Because if one day, when gold really drops till very very low, at least those values on the coins will still be standing and valid.. haha =D That's one benefit during the lowest point of gold.. hehe ^_^ BUT in trading, once gold drop, it's straight loss, and there will be no waiting to break even.. haha =D

Yeah... if the dollar continues to slide like it did since the beginning of the year, it will go up even higher! I am not the least bit surprise if it breaks the $1250 mark by year's end. We already are reading about gold breaking the $2000 mark by end 2010 by experts in the news. And looking at the charts, it seems to confirm what they are saying. I sure hope that something is going to be done to contain the price. Otherwise, inflation on everyday goods is going to spiral out of control! Hmm... makes it so tempting to just put a lot of gold in and sit and wait for it to hit that all time high price eh?