I have just read in the Internet the following news:

Super-rich ones they buy gold for ton in the crisis
Fears on a new economical crisis impel appetite for gold and for mineradoras actions, executive of the bank UB says

http://economia.ig.com.br/mercados/financeiro/superricos+compram+ouro+por+tonelada+na+crise/n1237791208107.html

Stupid. What do they do when the price of the gold to fall down?

There is no wealth without WORK and CONSUMPTION. To the opposite of investing the money in something that produces these two things the very rich ones immobilize capital transforming it in something absolutely useless and, in the future, without value.

We should never suppose that the very rich ones are very intelligent. They are also stupid that act under the pressure of the herd instincts. And they run for the abysses as all the herds.

since I bought in at 320/Oz and it's now at 1340/Oz.....
And going up as the dollar is inflated.

Au, or Gold, is an intrinsic mark on the value of a currency.
Silver also acts as a sign post on real inflation. If the banks weren't selling each other 'paper gold' to suppress the price at spot; gold would be at $7200/Oz, according to 1980 references.
The tungstin gold bars being found in inventories shows the criminality of the current system but law suits are forcing the truth out into the open about the runiation of national currencies being universally loooted by banking cartels.
Gold is going to go up. Nothing can stop it. Massive phoney 'selling' to suppress the price is not going to last much longer as discovery becomes common.

Since Americans are arrogant, I will tell to you a small history.

The entrepreneur and daring dynasty of Avis (1385/1581-1582), which my ancestors were linked, they transformed the smallest European kingdom in a naval and economical potency conquering colonies in Africa, in Asia and in America in time in that the world was square officially and the sea ocean insurmountable. In Brazil, my ancestors produced sugar with Arab techniques, very away Christians and Arabs went enemies officially. For a misfortune of the destiny, the house of Avis was substituted by the of Bragança e Bourbon (1640/1910), under which the Portuguese discovered gold and precious stones in Brazil. You will never be capable to imagine the amount of gold and of precious stones they were sent of Brazil for Portugal. However, 200 years later Portugal was the more poor country from Europe.

Try to understand as and why this happened. Then we will talk.

Personally I don't believe that you are sufficiently humble to learn what need with Brazilians and Portuguese. I will await your ruin with a square smile of who said: I saw this happen and I informed those idiots but they are deaf.

Since Americans are arrogant, I will tell to you a small history.

The entrepreneur and daring dynasty of Avis (1385/1581-1582), which my ancestors were linked, they transformed the smallest European kingdom in a naval and economical potency conquering colonies in Africa, in Asia and in America in time in that the world was square officially and the sea ocean insurmountable. In Brazil, my ancestors produced sugar with Arab techniques, very away Christians and Arabs went enemies officially. For a misfortune of the destiny, the house of Avis was substituted by the of Bragança e Bourbon (1640/1910), under which the Portuguese discovered gold and precious stones in Brazil. You will never be capable to imagine the amount of gold and of precious stones they were sent of Brazil for Portugal. However, 200 years later Portugal was the more poor country from Europe.

Try to understand as and why this happened. Then we will talk.

Personally I don't believe that you are sufficiently humble to learn what need with Brazilians and Portuguese. I will await your ruin with a square smile of who said: I saw this happen and I informed those idiots but they are deaf.

the selling of phony gold in order to shake out the small investors by dropping the prices over a short term surge only deepens the reverse leverage that back springs when actual inventories are seized for possession; and found to have been tungsten bars coated with gold.
You can well believe that the same Enron book keeping under competitive criminality has occurred at all levels, with some inventories selling 1000% of their real assets.