Where's Andy? Gold just took a big hit, down $8.00 an ounce. While some say that gold was a must to purchase for Y2K, this has got to really hurt the pocket book.

-- Rasty (Rasty@bulldoggg.xcom), January 04, 2000

Answers

That's nothing.

You should see what my house and car insurance premiums are worth when the terms expire.

-- Ron Schwarz (rs@clubvb.com.delete.this), January 04, 2000.

OK by me...I always like when prices drop...easier on the budget.

-- TM (mercier7@pdnt.com), January 04, 2000.

Gold for me is a one to three year play. Short term gold activity is meaningless. The big bubble has little or nothing to do with y2k. When it bursts, it will be because of rising interest rates which will be spurred by the dropping dollar. This naturally causes gold to rise whether anyone likes it or not.

-- William R. Sullivan (wrs@wham.com), January 04, 2000.

Gold does not and has never had much if anything to do with Y2K. The massive credit creation by the Fed (which is an entity we would be far better off without) will lead to far higher inflation, which will cause the price of gold to rise. It may take six months, it may take a year, but based on several thousand years of history, it will happen.

-- al (alf@tempro.com), January 04, 2000.

Don't you think alot of people who bought Eagles because they thought y2k was going to be ok are now rushing to convert their eagles back to cash?

Thats what I think is going on. They are buying the early lines of y2k ok and need cash.I don't think we will see the bopttom for a couple of days.

-- Johnny (jljtm@bellsouth.com), January 04, 2000.

I believe my guess day before yesterday was that it would be dropping like a rock atleast thru Wednesday.

I wish I had a few thousand to invest when it looks like it is hitting the bottom.

-- Michael Erskine (Osiris@urbanna.net), January 04, 2000.

Johnny, Individuals trading gold eagles don't affect the gold market at all. A one-day drop or bounce is irrelevant. Gold is still higher than when I bought. I for sure am not trading in my gold.

-- Mara (MaraWayne@aol.com), January 04, 2000.

Mara supply and demand. If you remove physical gold from the market the price will go up. If you flood the market with Gold the price will fall. I have always bought bullion instead of Eagles simply because the demand for eagles caused the premium to go up.

This is not a bad thing this is a buying opprutunity.

-- Johnny (jljtm@bellsouth.com), January 04, 2000.

1999:

Gold: up 0.1%

S & P 500: up 18%

My daughter's cheesy "global aggresive growth" mutual fund: up70%

Sorry, but gold just was not a wise investment, regardless of the reasons.

-- Freethinkr (Ima@nut.com), January 04, 2000.

Just saw a talking head on CNN financial news. 11:45 BST (Bayou Standard Time)

He was smiling like someone had a forklift parked on his foot, but he rambled on for a coupla minutes about "the red-hot economy". While he was talking the little counter in the bottom of the screen showed DOW falling. It lost 43 points in the few moments he was interviewed.

I'm really not smart enough to know what this means, if anything, but I don't think I'll use my gold eagles for trot-line weights just yet.

-- Lon Frank (lgal@exp.net), January 04, 2000.

Freethinkr, I had 33 black come up on roulette. I got paid 35 to 1, or 3500%. Was that a good investment? The old adage is, "Buy low, sell high." Anyone STILL in this market obviously doesn't know what "high" is. Regardless of how you feel about the FED and fiat money, I like gold at these levels. Especially with a DOW that is more expensive than 1929, but that doesn't matter anymore, does it?

-- J (Y2J@home.com), January 04, 2000.

J:

I agree that the market is too hot and is due for a correction. Problem is, I thought that last year, too.

You have to remember one thing: an item's value is determined by the BUYER, not the seller.

-- Freethinkr (Ima@nut.com), January 04, 2000.