Today's Gold Price

[mrsat_98]

Dec futures been running 3450 to 3469

3400.16 this morning.

 

[pmbug]

The US has slapped tariffs on imports of one-kilo gold bars, in a move that threatens to upend the global bullion market and deal a fresh blow to Switzerland, the world’s largest refining hub.

The Customs Border Protection agency said one-kilo and 100-ounce gold bars should be classified under a customs code subject to levies, according to a so-called ruling letter dated July 31, which was seen by the Financial Times. Ruling letters are used by the US to clarify its trade policy.
...

More:
https://www.ft.com/content/78be1315-608d-43c6-b8e7-80b9e18c5ce7

 

[pmbug]

... and now the Trump admin is claiming the CBP got it wrong...

Donald Trump will issue an executive order “clarifying” the US’s stance on gold bar tariffs, after a ruling that a widely-traded form of the precious metal is subject to levies sent shockwaves through the bullion market.

“The White House intends to issue an executive order in the near future clarifying misinformation about the tariffing of gold bars and other speciality products,” a White House official said on Friday.
...

https://www.ft.com/content/c2868087-9951-4f04-818f-5082437f603a

 

[Brian4Liberty]

3400.16 this morning.

Sometimes I wish I hadn't taken some profits about a year ago...

 

[Madison320]

We hit 37 trillion! Yay!

 

[pmbug]

JPow's dovish speech at Jackson Hole lifts gold, silver and cryptos this morning.

 

[acptulsa]

Back close to 3400, 40 and 1400 for platinum. Someday we'll be laughing about how they flirted with these threshholds.

 

[sam1952]

Maybe not in direct relationship to this thread but I do own gold, silver and platinum. Exited out of palladium awhile back. Not a buyer or seller of anything at the moment but I done ok with URA which I exited and looking to maybe re-enter. But my current play is LIT.

 

[oyarde]

Seems like a new world record by 40 today at 3540

 

[oyarde]

need to get over 3566.20 for next new high

 

[pmbug]

 

[oyarde]

3573.9 , comex december futures 3636

 

[oyarde]

3600.90 new mark today

 

[mrsat_98]

3600.90 new mark today

3626 this morning

 

[Madison320]

When is oil going to catch up? I think it's the cheapest it's ever been in terms of gold. And globally we're using more than ever. It should be about $200 a barrel to catch up to the historical ratio with gold.

 

[Brian4Liberty]

When is oil going to catch up? I think it's the cheapest it's ever been in terms of gold. And globally we're using more than ever. It should be about $200 a barrel to catch up to the historical ratio with gold.

It would be terrible for the entire economy, but good for my oil stocks...

That's the problem with necessary commodities being used for speculation and going into bubbles. Food and oil come to mind. But yes, monetary inflation also eventually hits the price of everything.

 

[Madison320]

It would be terrible for the entire economy, but good for my oil stocks...

That's the problem with necessary commodities being used for speculation and going into bubbles. Food and oil come to mind. But yes, monetary inflation also eventually hits the price of everything.

I'm wondering what's holding the price down. I'm guessing it's partly from the belief in alternate forms of energy and partly in anticipation of a global recession.

 

[Brian4Liberty]

I'm wondering what's holding the price down. I'm guessing it's partly from the belief in alternate forms of energy and partly in anticipation of a global recession.

I always look to supply and demand first. But like gold, there is a variety of political pressures to hold prices down. Oil is the worst for the economy, as a price increase effects pretty much everything.

 

[oyarde]

When is oil going to catch up? I think it's the cheapest it's ever been in terms of gold. And globally we're using more than ever. It should be about $200 a barrel to catch up to the historical ratio with gold.

If oil was 100 groceries inflation would be staggering

 

[oyarde]

I got rid of all stocks , and oil by 2014 and moved to land , gold , silver , copper , lead , aluminum