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"Gold prices about to top out"

ChrisRxChrisRx Posts: 5,619 ✭✭✭✭
in Precious Metals
Interesting article some of you might find interesting.
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Comments

  • ProofCollectionProofCollection Posts: 6,296 ✭✭✭✭✭
    It's a bold statement to make as gold make new all time highs...
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    G&OGuy made that call Friday. And many other analysts were in the same boat. A correction "should" be expected. And all we got was an all time high in Gold and GDXJ. The miners vaulted today. You could sort of see that getting ready to happen on yesterday's final dip. Good thing I packed in some gold seniors before they jumped.

    Maybe JS is right in that this looks like 1979 to him just as the PM's were ready to go parabolic. The run up since July was only a lazy looking arch. Maybe this is the parabolic leg in the sequence. Gold has been lagging silver, stocks, oil, currencies, and commodities in general for the past 2-3 wks. So it was overdue to pick up the pace.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • pmcollectourpmcollectour Posts: 1,211 ✭
    I wonder what he'll write after gold takes a brief pause, and then shoots up to 1,350/oz.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I've followed CV/Gold & Oil Guy for a couple of years and generally he does good stuff. The "odds" and "charts" on Friday did favor a pull back. You win some and lose some.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • RedHerringRedHerring Posts: 2,077 ✭
    Jim Cramer said this afternoon on CNBC that gold is going to hit $2,000. Of course he didn't say when, but implied within 2-3 years.

    He sounded like a real Gold Bug and yelled, "GOLD IS FOR REAL!".
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Ole' Jim a yelling sun of a gun fo' sure!image
    Avid collector of GSA's.
  • cohodkcohodk Posts: 19,228 ✭✭✭✭✭


    << <i>It's a bold statement to make as gold make new all time highs... >>



    While not saying I agree with the OP's link, I will say that everything that has ever topped out in the past has always done so just after hitting new highs. The view is always best at the top.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,935 ✭✭✭✭✭
    The view is always best at the top.

    I don't see the summit from here. This looks like the "bunny run".image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    I can play this game as well. Gold will pull back at some point. Giant limb. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    Gold's run was featured on Nightline last night. Funny how they presented the story. The first part was all about why it was rising and about rising demand and how it could rise substantially in the future. The second part was Ben Stein talking about how dangerous it was to be investing in it now. Surely the public is whipsawed by now with the price and demand rocketing and the pundits all saying you'll lose your money if you buy it.

    That's the thing about gold, if you have to listen to someone to know when to buy and sell, you are just an armchair jockey and should stick with bonds...really. Same goes for those just jumping in and jumping out at the first rise, sooner or later, you're gonna be burnt toast on a pointy stick. For those that have been stacking, life is good.

    Got Cash?
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    maybe interesting

    charting is an art and a science, but one needs to be able to read the tea leaves, too

    i still do not think we will see $1180 for a few years and cohodk says we will probably be flat this year. most bugs say 2011-2012 will be a big positive for PM and a few skeptics will caution this possible big upswing as well.

    there is not much volume in the markets even after the summer. it's all parked or pulled.

  • yellowkidyellowkid Posts: 5,486 ✭
    I believe any retreat in prices will be temporary.
  • EagleEyeEagleEye Posts: 7,677 ✭✭✭✭✭
    Jewlery/coin buyers are saying it's peaking or is at its all time high, you better sell now!

    Gold sellers are saying "we ain't seen nothing yet", Better buy now before the apocalypse.

    Gold Bugs are (always) saying higher, higher higher! Those outside looking in are saying "Wow how did it get so high?" "It must be ready to fall."

    So, what do I say? "Its going to change tomorrow".

    You should buy a little bit every month. That way you don't have to worry about price swings so much.
    Rick Snow, Eagle Eye Rare Coins, Inc.Check out my new web site:
  • CoinCrazyPACoinCrazyPA Posts: 2,899 ✭✭✭✭


    << <i>Jewlery/coin buyers are saying it's peaking or is at its all time high, you better sell now!

    Gold sellers are saying "we ain't seen nothing yet", Better buy now before the apocalypse.

    Gold Bugs are (always) saying higher, higher higher! Those outside looking in are saying "Wow how did it get so high?" "It must be ready to fall."

    So, what do I say? "Its going to change tomorrow".

    You should buy a little bit every month. That way you don't have to worry about price swings so much. >>



    Very well put,
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