Gold Price Watch

Discussion in 'Economics & Trade' started by DA60, Jan 27, 2012.

  1. DA60

    DA60 Banned

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  2. verystormy

    verystormy Member

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    Our forecast, as a major gold miner, is that it will go over $2k this year
     
  3. bacardi

    bacardi New Member

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    and to over 3,000 once the currency crisis hits the US in a year or two :)
     
  4. raymondo

    raymondo Banned

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    At some point soon the biggest gains will come in Mining Companies themselves .
    I keep praying to be told when that moment will occur but the only way to find out is to immerse yourself in all the expert publications , plus forecasts from experts and even the so called and self styled smart guys .
    Whilst Gold and Silver are booming , junior mining share prices have been devastated , showing about a 50% sector decline .
    The reasons for this are fairly clear but fairly soon the mood will change based on new realities and prices will increase unbelievably . There will be gains of 1000% and more .
    This is very serious business and don't forget it later this year maybe .
     
  5. bacardi

    bacardi New Member

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    the reason why gold miners are selling for such low multiples is because there is incredible pessimissim in how high the price of gold will go...once people realize that this is the real Mckoy then gold mining companies should sell for multiples that are 4 times higher then they are now...even higher perhaps! I believe that in the 70's gold miners were selling at multiples that were 100 times earnings!
     
  6. raymondo

    raymondo Banned

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    Absolutement , monsieur .
     
  7. raymondo

    raymondo Banned

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    It's nice to read warm words about something close to your heart .
    This -- below-- came on line a few minutes ago and it summarises popular sentiment nicely .
    Enjoy



    Fed Chief Ben Bernanke just promised interest rates will not rise until late 2014. He's openly saying that he wants inflation.
    This reckless monetary policy is pushing risk-averse investors into gold at the fastest pace since July 2010, according to the U.S. Mint.

    That means the 11-year bull market for gold is nowhere near done.

    The question is: Are you protecting the value of your money with gold?

    Because even the worst stock market crash in 100 years is now just a blip on the ever-rising gold chart...



    It's true. There's never been a better time to own gold and silver.

    And if you haven't allocated some of your investment capital to gold, well, current prices are about as low as they'll be for 2012 and beyond.

    And when you consider the reasons that investors are flocking to gold:

    the debt situation in Europe
    worldwide low interest rates
    the near certainty of rampant inflation
    U.S. dollar devaluation
    record gold buying in China
    gold prices have rallied 11 years in a row
    ... it's easy to see why prices will be higher in 2012 — and the year after that, and the year after that.

    How high will gold prices go?

    Morgan Stanley says $2,200 an ounce is coming this year.

    Citigroup likes gold even more, forecasting a $2,400 price per ounce.
     
    DA60 and (deleted member) like this.
  8. bacardi

    bacardi New Member

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    most people that think gold is in a bubble only see the price of bullion going up and just assume a bubble...they dont understand the fundamentals. Well....they will learn soon enough :)
     
  9. raymondo

    raymondo Banned

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    Yesterday it fell back but only by a small amount by the close --- possibly a combination of Monday AM tree shaking plus profit taking .
    It's very early , but it looks as though the move North is continuing as I write .
    With Silver following exactly the same pattern -- hardly surprising .
    Go on my beauties . Daddy is cheering you on .
     
  10. raymondo

    raymondo Banned

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    Doors closing gentleman . We are now on floor 1742 .
    Next stop the sky .
     
  11. bacardi

    bacardi New Member

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    gold is doing exactly what it has been doing for the last 10 years now......go up a little....rest....then go up a little more!
     
  12. raymondo

    raymondo Banned

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    So here's another one for the doubters --- received this evening


    Gold and silver are on fire.

    The yellow metal is finishing up the month of January with a gain of more than 10%.

    But silver is the star... It’s going to double the performance of gold for the month.

    In fact, silver is up 21.5% in January!

    To put that into perspective, silver’s January gain has outperformed the Dow’s 2011 performance. It also outperformed last year’s gains in the NASDAQ and S&P 500.

    You might think that since these metals are up so much for the first month of the year, they’re ripe for a pullback. And that may be correct.

    However, the charts of both gold and silver — but especially gold — are insanely bullish...


    This is a weekly chart of gold going back nearly three years:( you will have to imagine it! )


    As you can see clear as day, gold is forming an ominous double bottom technical formation, represented by the large “W” pattern that began forming last September.

    This “W” pattern is so huge and so clearly obvious that I think we’re going to witness an explosive breakout to the upside in gold.

    The top of the “W” is about $1,800 with the bottom being about $1,500. The difference is $300. Add that to the $1,800 if we get a breakout, and the target level is $2,100. And that’s the minimum price target for gold.

    Who knows where it goes from there...

    If gold breaks out from its “W” pattern and reaches $2,100 an ounce, then that would be a 21% gain from current levels.

    The same chart pattern is forming in silver, too.( more imagination , please )



    The Chinese Love Gold

    The fundamentals of the precious metals market support the technical picture.

    You see, regardless of charts, it’s still about supply and demand.

    Last week, I told you that the Chinese New Year (the Year of the Dragon) is bullish for gold and silver.

    Recent reports from China reveal they imported 85.7 tons of gold in October, a 40-fold increase from October of the previous year.

    That’s a massive increase.

    In fact, China may have imported as much as 500 tons of gold in 2011, double the estimated 245 tons purchased in 2010.

    The buying spree is continuing in the first month of 2012 — and not just by the Chinese.

    According to Bloomberg and reported by Chris DeHaemer in yesterday’s Wealth Daily:

    Gold traders are bullish for a fourth consecutive week, betting that the Federal Reserve’s pledge to keep interest rates low until late 2014 will extend the metal’s best start to a year in more than three decades.

    Nine of 15 surveyed by Bloomberg expect prices to gain next week. The value of gold held in exchange-traded products jumped $3.9 billion on Jan. 25, the most since October, as the central bank laid the groundwork for a possible third round of asset purchases, data compiled by Bloomberg show. Lower interest rates increase the appeal of bullion because it generally earns investors returns only through price gains.

    A third, fourth and fifth round of easing “lie ahead,” Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., wrote in a Jan. 25 Twitter post. The European Central Bank kept interest rates at a record low this month as the region contends with a spreading debt crisis.

    The U.S. Mint sold 114,500 ounces of American Eagle gold coins so far this month, its website shows. Full-month sales would reach 143,125 ounces at that pace, the most since July 2010.

    The 2,359.638 metric tons of gold held in ETPs backed by the metal is within 1.5 percent of the all-time high set last month and exceeds the reserves of all but four central banks.

    One of Greg McCoach’s favorite phrases is that they call silver and gold "precious metals" for a reason — because it’s such a tiny market.

    If you melted down all the physical gold that exists above ground into a cube, it would measure 20 yards by 20 yards by 20 yards.

    And when the masses jump into gold — even a tiny portion — it’ll send the price of gold up dramatically.

    That event may be coming soon. It’s a perfect storm for gold and silver.
     
  13. DA60

    DA60 Banned

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    'Marc Faber : The Easing measures in one form or the other by the ECB or the IMF or whoever it does it should be very gold positive , but you understand the market is a discounting mechanism and gold has a huge run to its September 21st high at 1921 dollars and I think we are still in a correction period , I suppose from the peak to the low it could be 40 percent , not a prediction I am just saying it could happen and I am always telling investors don't buy gold on leverage buy it for cash then you can endure the correction and it can provide additional buying opportunity , but I think my view is the S&P peaked out May second of last year at 1370 I do not think we will exceed that high before year end and I do not think the gold price will exceed 1921 for the next 3 to 6 months - in This Week in Money.'

    http://marcfaberchannel.blogspot.co...ampaign=Feed:+MarcFaberBlog+(Marc+Faber+Blog)
     
  14. bacardi

    bacardi New Member

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    but long term gold will not only surpass 2,000 but eventually 3,000 and more....so long as uncle Ben keeps freezing interest rates near zero then long term gold will keep appreciating!
     
  15. DA60

    DA60 Banned

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    Personally, I still think gold and silver are in for some more correcting. But maybe pre-election artificial stimulation will prevent it.

    And in 2013 (once the election is over) - I think some major correcting could be in order before the near-inevitable upward march continues.

    Imo, it depends how the elections go and what the POTUS's attitude to the Fed is, how the EU looks and of course China.

    This is all assuming this 'attack Iran' madness does not get even sillier...though war is usually good for gold.


    So basically, other then I strongly believe the gold/silver bull market has a long way to go - I have no idea how they will move in the relative short term.
     
  16. bacardi

    bacardi New Member

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    alot depends on what uncle ben does....do you think he feels generous? :)
     
  17. DA60

    DA60 Banned

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    I think one of the deals he made with Obama for getting re-nominated by him as Fed Chairman was to spend like mad if Obama asks him to around election time.

    And since the Republicans seemed determined to not let the Democrats spend too much to help their chances - that leaves the Fed to do it.

    And judging by the last public words coming out of Bernanke's mouth - negative remarks about the economy, increase in time frame for low rates and renewed possibility of QE3 - they appear to be right on cue.
     
  18. raymondo

    raymondo Banned

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    Just crashed through 1750 ----- 12.17 GMT .
    If it holds that until close , it should run to 1800 very quickly .
    Might have my yearly shag later .
     
  19. bacardi

    bacardi New Member

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    I thought there might be resistance at around 1800....I could be wrong though!
     
  20. raymondo

    raymondo Banned

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    It seems there is resistance at 1750 -- it is back at 1749 as I write .
    Must actually go and do some real work but hope to see it crash through to 1760 by the time I get back .
     

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