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I think you might have missed the 'BOAT' on Gold but then again, i said that to myself about 2 years ago! DOH!!!
There is still a chance to make it big in gold. The 200 day moving average is around $1500. Just wait & gold will dip below $1600 & that will be the time to buy a bunch. Then Europe will have to bail-out banks & the US will announce QE3. Gold will bust through $2300 with-in days of those announcements. That will make you 44% in a short time.
The reason gold continues to go up is because the Fed and other central banks continue to effectively print money.
If all the central banks stop doing that, gold will go back down.
But they aren't going to stop doing that.
Correct - The Fed has already said they will print whatever amount of money it takes to hold down interest rates into mid 2013. So gold will climb for 2 more years.
Also the dissenting Fed governors have changed their minds & we are only 2 votes away from QE3. Greece is about to take down the banking system so another bail-out is near. Either one of these events will cause gold to soar to a new all-time high.
What do you think of guys like Eric Sprott, Mike Maloney, James Turk, etc. They all think Gold is probably going to $5000 or more. Mike Maloney's latest video makes the case that Gold is fairly valued at $20000/ounce right now (yes $20000). That's without any more currency debasement. Of course it may take a while to get there.
Personally I think it is actually in the realm of possibility that gold is trading in the trillions if things go really haywire (AKA hyperinflation Germany style). It may not happen if the economy gets turned around and the Bernank stops printing money. Is that going to happen?
I don't know what they are smoking, but I will give it an upper limit of 2400 and when election comes around and Obama desperately tries to revive the economy, it will somewhat pull back, but if he fails, it's soaring back, but 5000, I can bet on my bum it's not even crossing 3K. To cross 3K, there has to be complete marauding of currencies and a totalitarian equity massacre, and unemployment of 20%. That's more like doomsday scenario.
I don't know what they are smoking, but I will give it an upper limit of 2400 and when election comes around and Obama desperately tries to revive the economy, it will somewhat pull back, but if he fails, it's soaring back, but 5000, I can bet on my bum it's not even crossing 3K. To cross 3K, there has to be complete marauding of currencies and a totalitarian equity massacre, and unemployment of 20%. That's more like doomsday scenario.
They aren't smoking anything that I'm aware of maybe that's the scary part, because I think those guys know what they are talking about.
I guess the question is: why would the price of gold fall?
And the corollary: why has the price of gold been rising?
As I see it, the price of gold has been rising because all central banks are printing money and diluting the currency, and they've been doing this for a while. The smart money see this. When the masses figure it out, the price of metals will sky rocket and the currency will collapse.
So then why would the price of gold fall? IMHO it will only fall if the above situation reverses ie. central banks become responsible, stop printing money, governments pay off debt, etc. But this is not going to happen. Literally it cannot happen due to the debt-ponzi scheme that is known as fractional reserve banking. There is not enough money in existence to pay off all debt and interest, therefore the system will perpetuate in an ever-increasing debt spiral of money printing, which means the price of gold will keep going up until it all collapses.
When it all collapses, who knows exactly what will happen.
If you are interested, watch this video. It pretty much convinced me, but there are many others in the know who have come to the same conclusion. Do the math yourself. On our present course, it ain't gonna be pretty (unless you own some gold and silver that is).
They aren't smoking anything that I'm aware of maybe that's the scary part, because I think those guys know what they are talking about.
I guess the question is: why would the price of gold fall?
And the corollary: why has the price of gold been rising?
As I see it, the price of gold has been rising because all central banks are printing money and diluting the currency, and they've been doing this for a while. The smart money see this. When the masses figure it out, the price of metals will sky rocket and the currency will collapse.
So then why would the price of gold fall? IMHO it will only fall if the above situation reverses ie. central banks become responsible, stop printing money, governments pay off debt, etc. But this is not going to happen. Literally it cannot happen due to the debt-ponzi scheme that is known as fractional reserve banking. There is not enough money in existence to pay off all debt and interest, therefore the system will perpetuate in an ever-increasing debt spiral of money printing, which means the price of gold will keep going up until it all collapses.
When it all collapses, who knows exactly what will happen.
I am a firm believer of cyclical economics.
If gold keeps rising up, up and up, it ends in one thing only - civil war, global unrest, bloodshed and physical turmoil.
Which means, the ponzi-schemers went too far and the people have had enough and are taking things into their own hands. This is more like the recipe of feudalism of the middle ages. I don't see that happening. Our political ideology has evolved by leaps and bounds and the current economic situation is eventually going to be fixed. And that is why gold will fall some day, but not in the near future.
So I don't see gold falling in the near future... we will see it in the 2Ks for a very long time and the decline of gold will be slow as economies around the world recover.
In economics, things fall and rise and fall and rise. Investors need to identify the crests and troughs and ride the appropriate tides. Right now, we're in a gold bull market. When will it end? Always look to positive action housing, UE and the currencies
If gold keeps rising up, up and up, it ends in one thing only - civil war, global unrest, bloodshed and physical turmoil.
Which means, the ponzi-schemers went too far and the people have had enough and are taking things into their own hands. This is more like the recipe of feudalism of the middle ages. I don't see that happening. Our political ideology has evolved by leaps and bounds and the current economic situation is eventually going to be fixed. And that is why gold will fall some day, but not in the near future.
So I don't see gold falling in the near future... we will see it in the 2Ks for a very long time and the decline of gold will be slow as economies around the world recover.
In economics, things fall and rise and fall and rise. Investors need to identify the crests and troughs and ride the appropriate tides. Right now, we're in a gold bull market. When will it end? Always look to positive action housing, UE and the currencies
I don't see the slow decline in gold happening - how are the economies around the world going to recover? Go into even more debt? Print more money?
I agree with you on the cycles. Gold (and silver) are in their cycle right now - for how long is debatable, but probably another decade before it comes to a close.
Are you familiar with the lifecycle of currency systems? The typical life is 40 years. We are about due for a change any time now. What I see that could happen is gold will go up and up, the economy will crash with hyperinflation, and the currency system will be scrapped. Those holding the gold will then convert to the new currency system, and will be able to buy up assets for pennies while unfortunately everyone else is broke (unless they had precious metals).
So gold is in its cycle until one of two things happens IMHO:
1. Governments become responsible, pay off debt, and the banking system is reformed (NOT going to happen, sadly)
2. The economy crashes in hyperinflation and debt default, and a new currency is established.
Is possible gold will be around 1500-1600 per ounce again ?
Hi Nancy. We just had our correction from our recent 1900+ run up. Now expect gold to hit 2100+ before our next correction, which might correct at about 1700-1800. The world is growing more and more chaotic by the week. I really don't see gold dropping that low again for at least another 5 years.
For all those bears out there. These are the reasons why gold will continue to raise:
1. Mass printing of fiat, and our massively increasing debt. As long as we are printing, gold will go up. This is the same situation worldwide.
2. It is not just the US buying gold, it is for the most part the entire world..mainly India and China(these two countries hold a huge percentage of the worlds population and they have a growing middle class). Buying gold is tradition in those two countries specifically which goes back thousands of years. Indian weddings are all about the gold and the more gold a woman can bring to the marriage the more power she grants to the household. China for the most part worships gold.
3. Wedding season is just now starting in Asia.
4. The entire banking systems of the world has issues. The Euro is in serious trouble. Many European countries, like the US are in serious debt. Even Australia is having some major problems.
Reasons why gold has major drops every now and again, or "corrections"
1. Manipulation
That is all.
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