Gold Stages Biggest Gain Ever in Bid For Safety
GOLD, SILVER, METALS, STOCK MARKET NEWS, COMMODITIES
By CNBC.com
CNBC.com
| 17 Sep 2008 | 02:26 PM ET

Gold staged its biggest one-day move ever Wednesday, with investors
flocking to the metal amid a tidal wave of stock market uncertainty.

The price of gold skyrocketed more than $80 an ounce, or 10.74 percent,
easily besting the previous largest dollar move of $63 on Jan. 29, 1980,
and past the largest percentage gain of 10.24 on March 19, 1980.

With stock indexes tumbling as much as 4 percent during the day, traders
took haven in gold as a hedge against the Wall Street fallout.

© 2008 CNBC.com

URL: http://www.cnbc.com/id/26759053/

On Sep 18, 7:53 am, Harry the K wrote:
Gold Stages Biggest Gain Ever in Bid For Safety
GOLD, SILVER, METALS, STOCK MARKET NEWS, COMMODITIES
By CNBC.com
CNBC.com
| 17 Sep 2008 | 02:26 PM ET

Gold staged its biggest one-day move ever Wednesday, with investors
flocking to the metal amid a tidal wave of stock market uncertainty.

The price of gold skyrocketed more than $80 an ounce, or 10.74 percent,
easily besting the previous largest dollar move of $63 on Jan. 29, 1980,
and past the largest percentage gain of 10.24 on March 19, 1980.

With stock indexes tumbling as much as 4 percent during the day, traders
took haven in gold as a hedge against the Wall Street fallout.

© 2008 CNBC.com

URL:http://www.cnbc.com/id/26759053/

I actually have about 7 ounces of gold on hand. We use it to coat
optics but most of it goes all over the coating chamber and must be
scraped off with a razor blade and is then "scrap". Someday, I will
melt it down.
I sold a spectrometer in Abu Dhabi that will be used simply to assay
the purity of gold. Thy showed me a gold brace;et that had been
stolen and the thief was caught. Apparently, under Islamic law, the
punishment is proportional to the value of what was stolen so the
thief argued that the bracelet was not pure gold. Of course the owner
said it was pure gold so they needed some way to test it. When
tested, it was only about 18 kt.