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I'd give gold another year or two run up. I firmly believe gold is in a bubble, but it's just not played out yet. It's had a 6-7 year run up, that is way out of line with historical price changes. That's not to say we've run out of foolish people looking to make a quick buck, but we will.
if you didnt know yet on kitco forums they spoke of margin hikes in gold. that is probably why gold fell today most likely.
also every gov is pulling out all the stops to stop short selling now. so here you have the reason for market increase for a small while while gold drops from margin increase.
NOW like silver eventually the margin increases will squeeze out all the speculators and the bubble will be deflated.
Just now the floor for gold will never go below 1700 ever again because the bubble was not formed but was based on real demand for the item.
BTW gold will not deflate as long as interest rates are at 1-2% for 10 year notes heck it wont go down unless we have 15-20% interest rates at the bare min.
but that would still bankrupt us. so gl in waiting for gold to deflate.
bernanke will print and print and print.
thus gold = infinity if dollar collapses.
if not fair value relative to 2 more years of inflation probably 30%-50% this year as gold rallied from 1300-1800 from earlier this year to 2000-2500 end of year btw even jpm predicts this.
next year maybe 3000 gold. and last year of inflation 2013 maybe 4000 gold.
after that maybe the gov will learn to stop printing.
or maybe they can finally pay off debts with any gold that is left at fort knox.
eh.
oh btw who are the idiots buying bonds at 2 % for 10 years and less than 1% for everything else. practically no return.
Just hold cash then my god why even bother with bonds.
30 year is a rip off as well because we know we will never see that money ever again. default risk is too high aka inflation default.
u don't buy gold with money that you will need in the next few years. u buy it with the money suckers pay for their houses, without the fear of being taxed, looted, sued, etc.
Gold closed above $ 1,800 today. IMO when it breaks the "psychological" barrier of $ 2000 (and I expect that will happen in 6-8 weeks or sooner), it is well on it's way to $3,000 in 2012.
What vehicle are you using? You are gonna be rich(er) than you already are. I finally took a flyer on UGL last week. Up 6%. I'll just ride it out and see where it goes. May put a bit more in this week - not sure yet. Still weighing risk/reward. And I don't want to own the hard stuff at this point, either. Silver going forward may have better percentage return, but I hear traders say it has more downside/volatility risk. Plus, gold is prettier.
ETA: Whoa - 1909.06 in the aftermarket.
Last edited by Ariadne22; 08-22-2011 at 05:39 PM..
Gold closed above $ 1,800 today. IMO when it breaks the "psychological" barrier of $ 2000 (and I expect that will happen in 6-8 weeks or sooner), it is well on it's way to $3,000 in 2012.
Sooner. Going up 30 pts a day for the past week. Probably hit $2000 in another week or so. This fall will tell the tale as to when the correction happens. If debt commission gets serious, there could be a reversal. I think we could have up to three more months of a runup, barring an unforeseen calamity. Wondering what September will bring, as well.
What vehicle are you using? You are gonna be rich(er) than you already are. I finally took a flyer on UGL last week. Up 6%. I'll just ride it out and see where it goes. May put a bit more in this week - not sure yet. Still weighing risk/reward. And I don't want to own the hard stuff at this point, either. Silver going forward may have better percentage return, but I hear traders say it has more downside/volatility risk. Plus, gold is prettier.
ETA: Whoa - 1909.06 in the aftermarket.
I'm not sure if you're asking me, but I'm mostly UGL and GLD, but I have a fair share of GDX and a small amount of GG. I'm glad gold is doing good... it surpassed covering my losses by misjudging oil.
I'm not sure if you're asking me, but I'm mostly UGL and GLD, but I have a fair share of GDX and a small amount of GG. I'm glad gold is doing good... it surpassed covering my losses by misjudging oil.
I was. Thank you.
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