Thursday, 24 April 2008

$1000 gold closing price! 2008-03-14

Friday 14th March 2008. Today's the day for $1000 gold closing price!

While at work today, I popped into our Samples laboratory and the radio was on. The newsreader said that Bear Stears had gone to the Federal Reserve US Central bank for an emergency bailout. I thought they had done that already. Must be another one. Anyway, when I looked at the website, gold was over $1000, not so surprising given the unfolding financial disaster. The 'Powers That Be' seem to have put up a bit of a fight to hold gold below $1000 for a couple of weeks while sister oil blasted through $100 to over $110, but this holding operation wasn't sustained and gold made a daily and therefore also a weekly close over $1000 for the first time ever. Kitco's weekend display shows the spot market bid/ask prices at 1002.50/1003.30.

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