Is gold on it's way back up?

Blackhawk

Gold took quite a jump today and has been slowly climbing since it's recent low somewhere around $320.00 ounce. Do you see a sustained increase and where's the top?

Bill

paigowjohnny

Gold is way too volatile as an investment...it may run a little and will just as quickly crater.

If you're gonna buy for investment...be ready and able to dump at a moment's notice.

DCAMFranklin

A very nice hop today! With all the money we are printing, you're not surprised are you? Yes, we will move back to the recent highs.

MrKelso

One can never have enough GOLD

jeffnpcb

Gold is reflecting currency exchange rates more than anything. Euro below .90[God only knows why except GATT,NAFTA,WTO and the EU] Take the price and multiply by 90 and the increase in value is virtual to the US dollar!

roadrunner

Yes, as Asians sell our dollars and treasuries, our dollar is weakening. Gold will continue up as long as the dollar remains weak. I agree with DCAM that we will test the early 2003 highs
in the not too distant future.

roadrunner

michael

for me i think gold will test 400 500 within the next 2 years ESPECIALLY SO AFTER THE NEXT PRESIDENTIAL ELECTION



sincerely michael

Deadhorse

Given the volitility of the world in general and certain currencies in particular, I am of the opinion that it won't take more than 15 months for gold to reach levels higher than anything since that crazy run up of the early 80s.

I'm banking on it, literally.

joejeweler

WOW, i can't change lead into gold......but i bet i could change all that gold into some pretty nice looking certifed COINS!



<< <i>One can never have enough GOLD
>>

Higashiyama

My own guess is that gold will trade in the $ 250 - 400 range for the foreseeable future. If I were a gambler, I would get in whenever gold dropped below 300, and get out when it hit 350 or so.

By the way, for those of you who think we are printing too much money (I do not, given global deflationary tendancies), what is your expectation for the annual average inflation rate for the next ten years? In my own view, there are almost no scenarios that are good for gold other than inflationary ones, and I expect inflation to be very low as baby boomers start saving.

shirohniichan

I just wish it would drop so I could buy more 1950's South Afircan proof sets. Although I don't see gold as a prime investment, it would have been nice to have stuck my retirement fund into it instead of into the mutual funds I chose. At least it didn't lose 30% to 40% of its value in the past 2 years.

Deadhorse

Anyone know about the worldwide restructuring of the financial markets due to take effect in mid '04. As I understand it, the dollar, the Euro and the Panda are to be tied together at some fixed point.

Pandas are gold of course, so it would tie the major traded monies back to gold through the Panda. From what little I can gleen about this, both the dollar and the Euro will be devalued in this process before the 3 are tied together.
Wouldn't be the first time the dollar has been devalued against foreign currency, Nixon did it in '73 I believe. The oil producing nations are behind this move as well.

One immediate effect would be that the dollar would be devalued against gold and it would not be temporary swing, it will lead to an immediate and permanent rise in gold against the dollar.

Silver would rise likewise.

Anybody else know more about this situation?

Higashiyama

Well, it sounds fictional. The combined clout of every other country in the financial markets is less than that of the US, this could not happen without US approval (indeed, leadership), and the US would certainly not agree to any scheme which changed the status of the dollar as a reserve currency.

In general, it is good to be long dollars. The euro is getting on the edge of being overpriced. If the euro should hit, say 1.20, short it like crazy.

roadrunner

The "demise" of gold back in February was somewhat overstated. In deflationary times gold will hold its value while many other goods may drop in price. During inflation, it will rise dramatically. It's good on both sides of the see-saw.

roadrunner

Higashiyama

Roadrunner -- we will have to agree to disagree on that one! Gold has less purchasing power now than it did 100 years ago, or 10 years ago. It has not been a good store of value.

MrKelso

<< <i>Roadrunner -- we will have to agree to disagree on that one! Gold has less purchasing power now than it did 100 years ago, or 10 years ago. It has not been a good store of value. >>



can you explain this a little better and give an example? Gold today is at $342.00 an OZ 100 years ago it was less then $20.00 an OZ I always thought it was a great store of value and had the ability to keep up with inflation or out run it.