News :
Gold futures ended above $700 an ounce for the first time since October 1980, according to weekly charts from Thomson Financial. Weakness in the dollar sent investors looking for more attractive returns in the metals market. Renewed concern over Iran also supported prices. Gold for June delivery shot up $21.60, or 3.2 percent to $701.50 US an ounce.


TK-> Any suggestions of if Gold will reach $800 by the end of the year or will this be the highest price? If Gold is not going to go up further, i am going to convert my family gold ornaments in to Cash. Any good place to do this in India (TN only) or Toronto?
TK

-----------------------------------------------------------------
I am a Gents and not a Ladies.

Hi TK,
Do not ever make the mistake of selling family gold.IMO gold is all set to cross Rs 25000/- per 10 gms INR, it is 10000 now, converting in USD makes it dearth cheap, obviously this is not going to happen overnight, just think of time it took gold to climb from US$ 400 to US $ 500, and from 500 to &700.
It has gained momentum very lately, and that has just begun, so don't ever commit the mistake of selling at his rate if you cannot buy it is OK, but do not sell,
Well that is my views only. All your regular disclaimer applies to my views expressed above.

-----------------------------------------------------------------
mor

Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.

Peacock1,
Thanks a lot. You views have greatly been benefical to my family before and i am sure that this one will also will. Just wanted to know the trend of Gold. Just came to know today that Bush is still not pleased with Iran's letter. Until the fear of Iran subsides, Crude oil and Gold futures will continue to rise.
TK

-----------------------------------------------------------------
I am a Gents and not a Ladies.

http://www.kitco.com/scripts/hist_charts/yearly_graphs.cgi

Jan 1980 had it by USD 850