So gold hits $1,877 so when will it...

[jedi]

Global markets: Gold hits new record, U.S. stocks slip - Yahoo! News

So when do you think it will hit $2,000?
& where do you see it going from there? $2,500 even $3,000?
Has to come down eventually.

 

[pudly]

Has to come down eventually.

Not necessarily. Depends on how much the dollar is inflated/devalued.

 

[NYFelon]

Not necessarily. Depends on how much the dollar is inflated/devalued.

Pretty much this. So long as there is no confidence in the global markets and banking system, gold will continue to increase in value.

 

[foszoe]

Start short selling it!

 

[Dentoro]

I was reading they would have to take gold to near 25 to 30 grand an ounce to pay off the debt right now. So most likely it will be closer to 50 grand and ounce by the time everything is said and done. Or the dollar is devalued to near nothing and you get a trade in of 50 grand in old greenbacks to 1 of whatever the new ones they should be offering. Perhaps the problem with new 100’s that were due out was they did not have enough zeros on them!!!!

 

[Leadeye]

QE3 is just over the horzion, expect it to jump a lot more when the government starts another cash creating spree to help it's freinds and supporters.

 

[RockofStrength]

QE3 is just over the horzion, expect it to jump a lot more when the government starts another cash creating spree to help it's freinds and supporters.

Can't complain, really. I'll be able to pay for college by sitting on my gold and waiting if they keep this crap going.

 

[foszoe]

I want to go back to the barter system!!!

 

[John Galt]

This is when gold was at $1600 an ounce and I had 80 - $20 bills laid out. Now, it would take 92 - $20 bills. This just goes to show what the government is doing to our money. Too bad it's not like the old days - Coinage Act of 1792 - Section 19. - "And be it further enacted, That if any of the gold or silver coins which shall be struck or coined at the said mint shall be debased ... , every such officer or person who shall commit any or either of the said offences, shall be deemed guilty of felony, and shall suffer death."

We are no longer a nation of Law, prepare accordingly!

 

[joslar15]

Personally, I expect $2000.00 gold by the end of September. The supposedly "smart folks" at JPM have set a target of $2500.00 by the year end.

 

[Hemingway]

Gold is up because the dollar is in the toilet and circling the bowl. The Euro is no better.

Gold is up because the overwhelming debt around the world is crushing the economies of major nations. And we are now all linked together.

Gold is up because of fear that the politicians will make matters worse.


Take all your charts, rationalizations, "tops", price prospects, mining stats, talk of bubbles, average bull market stats, etc and throw them out. The above 3 reasons are the fundamentals. When those fundamentals change for the better (stronger currencies, less debt and wise politicians), gold will go down. It's really not that complicated.

Tangibles trump conceptuals.

$2,000 by 12/31/11

$3,000 by 12/31/12

 

[joslar15]

Gold is up because the dollar is in the toilet and circling the bowl. The Euro is no better.

Gold is up because the overwhelming debt around the world is crushing the economies of major nations. And we are now all linked together.

Gold is up because of fear that the politicians will make matters worse.


Take all your charts, rationalizations, "tops", price prospects, mining stats, talk of bubbles, average bull market stats, etc and throw them out. The above 3 reasons are the fundamentals. When those fundamentals change for the better (stronger currencies, less debt and wise politicians), gold will go down. It's really not that complicated.

Tangibles trump conceptuals.

$2,000 by 12/31/11

$3,000 by 12/31/12

Exactly! None of them are likely to change over the next 12 months. If anything, I would expect them to get worse.

 

[ocsdor]

If my luck with gold is like that of stocks, then as soon as I buy a bunch, it will tank.

Disclaimer: I invested more in Lead today.

 

[RockofStrength]

If my luck with gold is like that of stocks, then as soon as I buy a bunch, it will tank.

Disclaimer: I invested more in Lead today.

Here's hoping for cheaper Lead!

 

[John Galt]

Personally, I expect $2000.00 gold by the end of September. The supposedly "smart folks" at JPM have set a target of $2500.00 by the year end.

Stuff you don't see on the MSM -
As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting? | ZeroHedge

 

[joslar15]

Stuff you don't see on the MSM -
As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting? | ZeroHedge

A run on JPM! I read about Chavez nationalizing gold operations in VZ, but the repatriation starting so quickly is news since I've been away from a computer all day,

Love Zerohedge! One of many sources I regularly read.

 

[RockofStrength]

Stuff you don't see on the MSM -
As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting? | ZeroHedge

Wait...without that gold does that mean JP can no longer lend more money or can they just do what the .gov does and borrow on faith and credit?

 

[joslar15]

 

[John Galt]

Wait...without that gold does that mean JP can no longer lend more money or can they just do what the .gov does and borrow on faith and credit?

Big rumor going around that many big banks/exchanges have oversold paper gold and silver and there is not enough actual physical metal to back up what has been sold. If everyone that is holding paper "credits" were to demand delivery of the actual physical metal and this were to be true, the price of metals would go through the stratosphere and all hell would break loose ...

 

[jedi]

Big rumor going around that many big banks/exchanges have oversold paper gold and silver and there is not enough actual physical metal to back up what has been sold. If everyone that is holding paper "credits" were to demand delivery of the actual physical metal and this were to be true, the price of metals would go through the stratosphere and all hell would break loose ...

Why would someone be so stupid as to buy "paper metal" (ie. certificates in gold/silver/etc) as oppose to getting their hands on the physical item?

​

That is just like money your money off the USD/EURO/etc into another paper form.

Are people really THAT stupid!