[copious.abundance]

$this->bbcode_second_pass_quote('barbara23', 'H')i traders! Our favorite commodities are bouncing just like a basketball ball.

Oil declined on Friday despite falling inventories, as dollar gained against the euro. Crude oil for October delivery fell $1.46 to settle at $107.89.

Dollar's decline gave gold the much needed boost. Spot gold ended gains into a second session to stand at $804.70 per ounce by 1021 GMT, up 0.45 percent from $801.10 in late New York trade on Friday.

Cheers!

Barbie

[barbara23]

Hi guys, Barbie reporting here again. I really like we can discuss topics such as Gold and Oil prices

There was heavy selling seen in the market by investors in favor of safer assets taking crude oil below $100 a barrel. As oil installations in Gulf of Mexico were spared by hurricane Ike, oil supply disruption expectations diluted. Oil's low stance is keeping gold also lower.

Crude oil for October delivery fell $5.47 to close at $95.71 a barrel on the New York Mercantile Exchange.

On Monday, gold rose initially after dollar slipped over Lehman bankruptcy news. But later with oil's fall, gold also followed suit. Many analysts said that the open positions on gold if closed can take the metal in any direction.

Spot gold was at $775.30/776.90 at 1427 GMT.

Cheers!
Barbie

{link removed by Shannymara per CoC 3.1.7}

[Delphis]

Barbie,

Looks like it closed at $782.30 dwon $4.70 with Oct. Del Oil (should that be caps) at $91.02 down $4.67...?

My gut tells me the drop in Oil (oil?) may be manufactured and although it's off 20% in the preceeding 30 days, we have only seen a drop locally of $.07 or 2%? I am always suspicious when the price of oil goes up and the gas station attendants are in front immediatley with the telescoping number changers, but when oil drops there is significant delay.

Cheers!

[mrobert]

$this->bbcode_second_pass_quote('Delphis', 'B')arbie,

Looks like it closed at $782.30 dwon $4.70 with Oct. Del Oil (should that be caps) at $91.02 down $4.67...?

My gut tells me the drop in Oil (oil?) may be manufactured and although it's off 20% in the preceeding 30 days, we have only seen a drop locally of $.07 or 2%? I am always suspicious when the price of oil goes up and the gas station attendants are in front immediatley with the telescoping number changers, but when oil drops there is significant delay.

Cheers!

[Cashmere]

Oil - 114
Gold - 902

I guess this the Invisible Hand's way of giving the finger to the Treasury and Fed.

Clearly, money is currently in full flight out of the paper based assets.

[Jotapay]

A Swiss banker on Bloomberg TV last night was saying paper was worthless. He recommended getting gold and commodities, and he stressed PHYSICAL assets, not ETFs. He predicted gold could easily reach $2500/ounce in 2 to 3 years.

[Daniel_Plainview]

$this->bbcode_second_pass_quote('Cashmere', 'O')il - 114
Gold - 902
I guess this the Invisible Hand's way of giving the finger to the Treasury and Fed. Clearly, money is currently in full flight out of the paper based assets.

[Cashmere]

$this->bbcode_second_pass_quote('Jotapay', 'A') Swiss banker on Bloomberg TV last night was saying paper was worthless. He recommended getting gold and commodities, and he stressed PHYSICAL assets, not ETFs. He predicted gold could easily reach $2500/ounce in 2 to 3 years.

[Jotapay]

$this->bbcode_second_pass_quote('Cashmere', 'W')hy does anybody own those when owning the physical bullion is so simple?

[Byron100]

$this->bbcode_second_pass_quote('Cashmere', 'O')il - 114 Gold - 902 I guess this the Invisible Hand's way of giving the finger to the Treasury and Fed. Clearly, money is currently in full flight out of the paper based assets.

[Niagara]

I'm finding it very difficult to buy gold and silver (the physical metal).

Many of the small shops have no inventory and the online sellers are back-ordered, with the option of refunding your purchase and canceling the order within x days.

[Cashmere]

$this->bbcode_second_pass_quote('Niagara', 'I')'m finding it very difficult to buy gold and silver (the physical metal).

Many of the small shops have no inventory and the online sellers are back-ordered, with the option of refunding your purchase and canceling the order within x days.

[Jotapay]

This has been posted a lot in the past week, but AMPEX.com has silver Austrian Philharmonics and they have virtually all gold coins. They are low on bullion, however.

[DirtyHowi]

hoooooooooooooooollllly ****

money.cnn.com breaking news oil up past 127 a barrel.

[Spanktron9]

oil just went Parabolic! $130! up over $25.

[Carlhole]

The market must have concluded that the dollar will plummet as the result of the bailout.

Geez, what a dramatic day.

[Cid_Yama]

Oil is up 17%, nearing $123.00. Panic is setting in as shorts scramble to cover.

[misterno]

Matthew Simmons will be back in business

As a matter of fact he has a talk in Houston on September 30, 2008 in the Houstonian and I will be there

It is a free attendance come and join.

[some_math_guy]

Oil Prices Explode Higher With Record $25 Jump

Look at the headline article at Yahoo Finance: link

My local coin dealer has been repeatedly out of silver and gold coins and bullion for weeks - ever since the price of PM's crashed. This spot price of PM has come unhinged from physical: 1oz Silver Maples are selling for 20$ and 1976 silver Olympic coins were going for 14$/oz when silver was $10.50. They cannot hang onto their stock even at these prices; as soon as someone comes in to sell (which hasn't been many people I've been told), it's been sold to someone else.

Best place to get PM (as always) is ebay...no stupid sales tax, bar charges, premiums, etc, and delivered insured right to your door. You can grab deals that you will NEVER see at kitco or any other bullion dealers.

[Madpaddy]

Sweet Jesus,

Oil up to $130.