Time to sell those wedding rings.

[Willowz]

http://www.bloomberg.com/news/2011-08-22/gold-tops-1-900-for-first-time-on-concern-global-economy-may-weaken-more.html"

Gold extended its rally to a record above $1,900 as mounting concern that the global economy is faltering spurred demand for bullion as a protection of wealth.

Goldman Sachs Group Inc. lowered its forecast for U.S. growth in 2011 on signs that the recovery in the largest economy lost momentum. German Chancellor Angela Merkel attempted to shut the door on common euro-area bonds as a means to solve the debt crisis, saying she won’t let financial markets dictate policy.

Gold is in the 11th year of a bull market. Prices have more than doubled since the end of 2008 as governments worldwide struggled with debt crises and as record low U.S. borrowing costs boosted the appeal of bullion as a hedge against inflation.

“People are losing confidence in monetary management,” Nick Barisheff, who helps manage $650 million as the president of Toronto-based Bullion Management Group Inc., said in a telephone interview. “Gold has been a form of currency for the last 3,000 years and will continue to be so.”

Prices are still said to rise. Up and down up and down.

 

[Astronuc]

So now we have a gold bubble.

Of course, the outcome of the burst is predictable.

 

[BobG]

I should, considering I've been divorced for over two years. I wonder where I put it.

 

[edward]

I should, considering I've been divorced for over two years. I wonder where I put it.

You might want to start looking.

Gold calculator

http://gold.yabz.com/jewelry.htm

 

[WhoWee]

Did anyone else think the guys on TV displayed marketing genius the first time you saw the commercial that proclaimed - 'mail us your gold' - then we'll figure out what it's worth and mail you a check?

 

[Evo]

Did anyone else think the guys on TV displayed marketing genius the first time you saw the commercial that proclaimed - 'mail us your gold' - then we'll figure out what it's worth and mail you a check?

Yeah, unless it's really tacky, the jewelry would have more value than the gold by itself, you do pay for the finished product (when you consider how much you paid for it). But if gold goes up enough, sell that tacky jewelry!

 

[WhoWee]

Yeah, unless it's really tacky, the jewelry would have more value than the gold by itself, you do pay for the finished product (when you consider how much you paid for it). But if gold goes up enough, sell that tacky jewelry!

I have a friend in the wholesale jewelry business. He claims the markup at the mall is 10x cost. He's also dabbled in wholesale scrap (gold and stones) from pawn shops. The gold is melted and recast and the stones are cleaned and reset - then sold as new. His favorite saying is "there's no such thing as a "new" diamond.

 

[Evo]

I have a friend in the wholesale jewelry business. He claims the markup at the mall is 10x cost. He's also dabbled in wholesale scrap (gold and stones) from pawn shops. The gold is melted and recast and the stones are cleaned and reset - then sold as new. His favorite saying is "there's no such thing as a "new" diamond.

I worked for awhile at a Boston company that bought out bankrupt jewelry stores and large estate sales. We had incredible one of a kind pieces. We had Jose Hess pieces. A friend offered to buy me a $92,000.00 Jose Hess necklace, just because he liked me. I refused. It was cool too, a thick 18K gold diamond encrusted torque with two jaguar heads with rubies and sapphires.

WHY AM I SO STUPID? The guy was a multi-millionaire and it would have made him happy! He was dating my boyfriend's sister and I gave him some good advice and he wanted to repay me. AAAARGHH!

 

[WhoWee]

I worked for awhile at a Boston company that bought out bankrupt jewelry stores and large estate sales. We had incredible one of a kind pieces. We had Jose Hess pieces. A friend offered to buy me a $92,000.00 Jose Hess necklace, just because he liked me. I refused.

WHY AM I SO STUPID? The guy was a multi-millionaire and it would have made him happy! He was dating my boyfriend's sister and I gave him some good advice and he wanted to repay me. AAAARGHH!

Ouch!

 

[Jimmy Snyder]

If my wife tries to sell her wedding ring thinking it's real gold, I'm in deep doodoo.

 

[Evo]

If my wife tries to sell her wedding ring thinking it's real gold, I'm in deep doodoo.

What's brass going for? I hear copper is up?

 

[turbo]

I bought my wife's wedding band (antique 3-color German sculpted gold) when gold was even higher than it is today in inflation-adjusted prices. Thank God, I had friends in the business who were buying and selling at market (spot) prices, and they were loathe to let such a beautiful ring be scrapped.

 

[Astronuc]

All good things must come to an end -

Gold Falls Off A Cliff As Margin Calls Cream Speculators

http://news.yahoo.com/gold-falls-off-cliff-margin-calls-cream-speculators-211556157.html

http://news.yahoo.com/down-goes-gold-dollar-flexes-euro-toasted-231858452.html

 

[skippy1729]

If CD's ever pay a decent rate again look for gold to fall even more. If the dung ever hits the fan, food, water and guns will be more important.

Skippy

 

[turbo]

If CD's ever pay a decent rate again look for gold to fall even more. If the dung ever hits the fan, food, water and guns will be more important.

Skippy

I have food, water, and guns (and plenty of ammo!). I have silver and gold scrap in the safe, but no need to sell them, so there they will stay.

 

[Proton Soup]

something very strange is going on. i just found out yesterday that a $1 trillion dollar lawsuit was filed in federal court on 11/23/11 by a lawyer named Keenan for a wealthy asian family, and it is supposedly regarding bonds issued by the federal reserve for gold deposited.

 

[skippy1729]

something very strange is going on. i just found out yesterday that a $1 trillion dollar lawsuit was filed in federal court on 11/23/11 by a lawyer named Keenan for a wealthy asian family, and it is supposedly regarding bonds issued by the federal reserve for gold deposited.

I don't have specific references but I know that this has been tried (unsuccessfully) many times in the past.

Skippy

 

[Proton Soup]

I don't have specific references but I know that this has been tried (unsuccessfully) many times in the past.

Skippy

do you happen to remember what sort of motivations people had for doing this? if it's fake, and the bonds are forged, then you'd think it'd be discovered quickly and dismissed. somebody would spend a lot of money putting this together knowing it is going to fail. so what I'm wondering is if the real aim of filing a false claim is some kind of market manipulation.