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Politics : Rat's Nest - Chronicles of Collapse

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To: Wharf Rat who wrote (553)	6/24/2005 3:41:31 PM
From: Mannie	Read Replies (1) of 24224

From: SliderOnTheBlack 6/24/2005 3:38:13 PM of 66 $850 POG ? fwiw: it's about $175 in inflation adjusted 1980 US Dollars. resourceinvestor.com Will high gold cause an inflation bust? By Jon Nones 24 Jun 2005 at 03:19 PM According to Katie Benner of CNN/Money, gold rising against nearly every currency when oil is at $60 a barrel may signal serious inflation problems to come. A handful of precious metals insiders at the recent New York Institutional Gold Conference predicted that the price of spot gold will hit $850 an ounce in the next few years from its current level near $440. The last time it got anywhere near that high was in the late 1970s when out-of-control inflation, unrest in the Middle East and an oil crisis pushed the precious metal from $150 to $810 a troy ounce. Gold is currently trading 30 percent above its 10-year moving average on the New York Commodities Exchange, and gained five percent this month to stand less than $10 away from March's peak at $446.70, even while the greenback gained against the euro.

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