Random News: Record Gold Price, Countrywide Bankruptcy Rumor, and Live 14 Years Longer
Post viewed 598 times, 1 so far today
The last time that gold was at $875 an ounce level was 28 years ago on January 21, 1980. Since them, gold has been in an extended bear market in almost 20 years until the current upward trend started in 2001. Today, gold contract reached a new all time high at $883.89/ounce before easing a little bit to close the session at $880.30 on NYMEX. Spot gold, meanwhile, also reached a record of $877 an ounce. Factors behind the surging gold price, which gained, include geopolitical uncertainties, inflation worries, and credit risks.

In the nominal dollar amount, today’s close is a record. However, if inflations in the past 28 years are considered, gold price has to up to nearly $2,200 per ounce today to surpass the $875 price in 1980 (picture from goldprice.org). I don’t know if that’s possible, but $1,000 gold is certainly within reach
US stocks took another hard hit today with the Dow losing 238 points as fears of a economic slowdown kept growing after AT&T CEO cited “softness” in its customers. Another big story today is the bankruptcy rumor of the nation’s largest mortgage lender, Countrywide Financial. Though the company denied it’s seeking protection, that didn’t prevent its stock from losing 28% of its value in one trading session. I am wondering what will happen to our mortgage if CFC does file Chapter 11.
Finally, want to live 14 years longer? According to a study by a group of British scientists, you could if you develop the following healthy habits:
- Don’t smoke
- Exercise regularly
- Eat lots of fruits and vegetables
- Drink moderately
If you enjoyed reading this post, please consider subscribing to my full RSS feed (What's RSS feed?). Or you can also choose to have free daily updates delivered right to your inbox.
Featured Financial Products
- Earn up to 5% cash back from these cash back credit cards while shopping at gas stations, grocery stores, or online.
- Buy stocks at TradeKing at a flat $4.95 commission per trade. Check out the TradeKing review and use these TradeKing promotion codes to open an account.
Check Out These Related Articles
- Record Gold Price, Again
- Random News: Value of My Buffalo Gold Coin, Supermodel Refusing US Dollars, and China’s Diversification Plan
- Random News: Visa IPO, Euro/Dollar and Good, all the Records
- Prices of Gold Coins: How are They Determined?
- Ladies and Gentlemen, Here’s the $1,000 Gold!
Share Your Thouhgts
Your opinion matters. Please use the form below to share your thoughts on Random News: Record Gold Price, Countrywide Bankruptcy Rumor, and Live 14 Years Longer with us.Recent Entries
- Weekend Linkage - September 7, 2008
- American Express TrueEarnings Card $25 Bonus
- Unemployment Rate Reaches Five-Year High
- Chinese ADRs Monthly Update - August 2008
- Commodities Make It and Commodities Break It
- HSBC Weekend Card
- August 2008 Score Card — Part I: Net Worth
- Weekend Linkage - September 1, 2008
- More Disturbing Facts on Banks
- Authorized Users Will Be Allowed in FICO Score Calculation
- Reminder: $70 TradeKing Bonus Still Available
- FDIC Problem Banks List Grew to 117 Last Quarter
- DollarSavingsDirect: A High Yield Version of Emigrant Direct
- Financial Tips for College Students
- WTDirect Terminates Promotion After Only Three Days
- Did You Miss These Freebies?
- Google Beijing Olympic Logos: How Google Celebrated the Event
- WaMu Promotion: 5.00% APY for 12-Month Online CD
- WTDirect Promotion: Up to $250 Sign-On Bonus
- American Eagle Gold Coin in Short Supply?
- Boy, Was I Wrong on FRE
- Avoid These Unhealthy Kid Foods
- Suze Orman FICO Kit 20% off Sale
- Poll: Do You Save in 401(k) Without Company Match?
- Weekend Linkage - August 17, 2008





Comments
No comments yet, but your thoughts are always welcome.