What they were saying about gold in 2003
HighRelief
Posts: 3,672 ✭✭✭✭✭
I located this e-mail in my saved mail from 12/1/2003 and found it an interesting read. I should have bought more of those common date MS63 Saints that were selling for around $450.00 at the time 
RED ALERT!
Gold Closes Over $400, First Time Since 1996
About this time a year ago, The Austin Report made a bold forecast, “Gold to Hit $400 By End of 2003.” At the time, gold was trading around $320/ounce and some folks thought we were sticking our necks out.
This afternoon (Dec 1st), gold closed over $403! Our fondest hopes, our most courageous forecasts proved to be “RIGHT ON THE MONEY!”
With gold’s impressive rise from 20-year-lows of $258, many questioned whether gold could push through the $400 level in 2003. Many people could not imagine a 50% rise in the price of gold in this short period of time. Few could believe the precious metal was really and truly in a long term bull market.
At last, gold has once again retained its reputation for wealth preservation. Gold’s future has never looked brighter.
$400 Gold is Big News
For months, we’ve felt the $400 level for gold was a crucial psychological target.
Yes, $400 is a magic number for many people. After the $400 mark is breached, gold suddenly becomes a hot topic of conversation among analysts, investors, stock brokers, CNN, and CNBC commentators. This anomaly happens at “even” gold levels like $300, $400, $500 etc.
In fact, gold will definitely be a top story for the evening news on ABC, CBS, and NBC. Even the cable channels (devoted to covering stocks) will be talking about gold. Believe me, the $400 price will get broad attention in major newspapers, The Wall Street Journal, Barron’s, Investor’s Business Daily, Fortune magazine– and in print throughout the world.
Gold is Not Dead
Not since February of 1996 have we had a day when gold closed over $400. It’s been quite a ride for gold bugs who’ve struggled against the predominant view that gold was dead as an investment.
Any investment manager who recommended that their clients trade U.S. paper dollars for gold has done a great service for investors. It’s more than just the 50% gains posted by gold. Gold’s place in any portfolio is for safety, security, insurance, protection, privacy, and diversification.
Yes, $400 gold is big news! The 25% rise in gold prices this year cannot be overlooked any longer. Investors worldwide will take a second, maybe a third look at gold as a viable alternative investment especially in a flight to safety out of the U.S. Dollar.
As a result, when gold once again commands this level of attention, there is sure to be an overwhelming influx of fresh, new gold buyers.”
Institutional Money Coming
We hear that some institutional investors are adding gold to their portfolios in a trickle, perhaps replacing some dollar denominated short term instruments with bullion. But, the big buying from the strong institutions has not taken place, at least not yet.
When big money hits, we believe you’ll see a sharp upturn for gold with $5.00 and $10.00 up days. A wave of buying like that is something to see!
Short-Term Outlook for Gold
Right now, through the year’s end, we feel that gold has only minimal resistance until it hits the $420 - $425 level. Watch, it could happen quickly.
However, we do see a wall of resistance at $425 to overcome, no doubt. We would also remind our readers that intermediate corrections within a bull market are important to watch. They are quite normal. Without them, gold prices could not build the momentum needed to move back above resistance levels.
We aren’t worried at all but we do feel it may take a little time and we could have a few small corrections in the Holiday Season. Those dips are your signal to step in and buy.
$500 Gold This Time!
For the long-term outlook for gold, we like the way Peter Grandich stated his view:
“If I am correct about the dramatic fundamental changes afoot,
I think that the gold market can make it to at least $500 this time around.”
We hope Peter is right on target for $500 gold in the year ahead. However, we are not ready yet to pick a number for 2004. We are still digesting the victory of crossing $400.
Gold is Dirt Cheap
That said, we continue to believe that gold is in a long-term bull market. We urge others to take that point of view and buy gold here and now… and soon! Why? Because gold is dirt cheap! And how do we know that? Because Richard Russell states his case plainly in the latest issue of “The Gold Report.” And we trust his opinions.
“I believe gold (and very probably silver) will make fortunes for those who now take major positions in the precious metals.”
“So this is my position — I believe gold below and even somewhat above 400 dollars an ounce is dirt cheap. In view of the amount of Fed-generated fiat paper that will have to be churned out in coming years (it will be in the multi-trillions of dollars), gold is the cheapest thing around.”
Mr. Russell’s newsletter can be found at http://dowtheoryletters.com – he is, in our opinion, the most noted of Dow Theorists today. He’s an expert on stock market analysis and Dow averages. Yes, I said he’s an expert on stocks. When someone with Richard Russell’s reputation takes his money out of the stock market and puts his money in gold, you have to listen. And listen carefully.
As we at The Austin Report look toward the new year, we see at least another two to three impressive years ahead for gold. If geopolitical events get worst or we have another major terrorist attack upon America, this could prove to be the best decade for gold we’ll see in our lifetime. Indeed, gold may be destined to rise far beyond the all-time high of $850.
Only time will tell.
If you’re thinking about buying gold, call us today at Austin Rare Coins & Bullion 1-800-928-6468. Gold Specialists are on call 24/7 to take your orders and answer your gold questions.
Or you can order online at the Gold Information Network. You can pick from Swiss Gold Bars, American Eagles, or Canadian Maple Leafs gold coins. Use your Visa, MasterCard, American Express, or Discover Card for immediate delivery.
Click here for Today’s Best Gold Buys - http://goldinfo.net/bestbuys.html
Sincerely yours,
Ross Busler
Ryan Denby
Mike Swingler
Gold Specialists
Austin Rare Coins & Bullion
The Gold Information Network
1-800-928-6468
P.S. Austin Rare Coins & Bullion has served investors, collectors, and fellow coin dealers since 1989. We’re a member of BBB online, PCGS, NGC, and we support the Industry Council for Tangible Assets. The Gold Information Network is a division of Austin Rare Coins, Inc. and a recent winner of the Yahoo Top Service Award.
RED ALERT!
Gold Closes Over $400, First Time Since 1996
About this time a year ago, The Austin Report made a bold forecast, “Gold to Hit $400 By End of 2003.” At the time, gold was trading around $320/ounce and some folks thought we were sticking our necks out.
This afternoon (Dec 1st), gold closed over $403! Our fondest hopes, our most courageous forecasts proved to be “RIGHT ON THE MONEY!”
With gold’s impressive rise from 20-year-lows of $258, many questioned whether gold could push through the $400 level in 2003. Many people could not imagine a 50% rise in the price of gold in this short period of time. Few could believe the precious metal was really and truly in a long term bull market.
At last, gold has once again retained its reputation for wealth preservation. Gold’s future has never looked brighter.
$400 Gold is Big News
For months, we’ve felt the $400 level for gold was a crucial psychological target.
Yes, $400 is a magic number for many people. After the $400 mark is breached, gold suddenly becomes a hot topic of conversation among analysts, investors, stock brokers, CNN, and CNBC commentators. This anomaly happens at “even” gold levels like $300, $400, $500 etc.
In fact, gold will definitely be a top story for the evening news on ABC, CBS, and NBC. Even the cable channels (devoted to covering stocks) will be talking about gold. Believe me, the $400 price will get broad attention in major newspapers, The Wall Street Journal, Barron’s, Investor’s Business Daily, Fortune magazine– and in print throughout the world.
Gold is Not Dead
Not since February of 1996 have we had a day when gold closed over $400. It’s been quite a ride for gold bugs who’ve struggled against the predominant view that gold was dead as an investment.
Any investment manager who recommended that their clients trade U.S. paper dollars for gold has done a great service for investors. It’s more than just the 50% gains posted by gold. Gold’s place in any portfolio is for safety, security, insurance, protection, privacy, and diversification.
Yes, $400 gold is big news! The 25% rise in gold prices this year cannot be overlooked any longer. Investors worldwide will take a second, maybe a third look at gold as a viable alternative investment especially in a flight to safety out of the U.S. Dollar.
As a result, when gold once again commands this level of attention, there is sure to be an overwhelming influx of fresh, new gold buyers.”
Institutional Money Coming
We hear that some institutional investors are adding gold to their portfolios in a trickle, perhaps replacing some dollar denominated short term instruments with bullion. But, the big buying from the strong institutions has not taken place, at least not yet.
When big money hits, we believe you’ll see a sharp upturn for gold with $5.00 and $10.00 up days. A wave of buying like that is something to see!
Short-Term Outlook for Gold
Right now, through the year’s end, we feel that gold has only minimal resistance until it hits the $420 - $425 level. Watch, it could happen quickly.
However, we do see a wall of resistance at $425 to overcome, no doubt. We would also remind our readers that intermediate corrections within a bull market are important to watch. They are quite normal. Without them, gold prices could not build the momentum needed to move back above resistance levels.
We aren’t worried at all but we do feel it may take a little time and we could have a few small corrections in the Holiday Season. Those dips are your signal to step in and buy.
$500 Gold This Time!
For the long-term outlook for gold, we like the way Peter Grandich stated his view:
“If I am correct about the dramatic fundamental changes afoot,
I think that the gold market can make it to at least $500 this time around.”
We hope Peter is right on target for $500 gold in the year ahead. However, we are not ready yet to pick a number for 2004. We are still digesting the victory of crossing $400.
Gold is Dirt Cheap
That said, we continue to believe that gold is in a long-term bull market. We urge others to take that point of view and buy gold here and now… and soon! Why? Because gold is dirt cheap! And how do we know that? Because Richard Russell states his case plainly in the latest issue of “The Gold Report.” And we trust his opinions.
“I believe gold (and very probably silver) will make fortunes for those who now take major positions in the precious metals.”
“So this is my position — I believe gold below and even somewhat above 400 dollars an ounce is dirt cheap. In view of the amount of Fed-generated fiat paper that will have to be churned out in coming years (it will be in the multi-trillions of dollars), gold is the cheapest thing around.”
Mr. Russell’s newsletter can be found at http://dowtheoryletters.com – he is, in our opinion, the most noted of Dow Theorists today. He’s an expert on stock market analysis and Dow averages. Yes, I said he’s an expert on stocks. When someone with Richard Russell’s reputation takes his money out of the stock market and puts his money in gold, you have to listen. And listen carefully.
As we at The Austin Report look toward the new year, we see at least another two to three impressive years ahead for gold. If geopolitical events get worst or we have another major terrorist attack upon America, this could prove to be the best decade for gold we’ll see in our lifetime. Indeed, gold may be destined to rise far beyond the all-time high of $850.
Only time will tell.
If you’re thinking about buying gold, call us today at Austin Rare Coins & Bullion 1-800-928-6468. Gold Specialists are on call 24/7 to take your orders and answer your gold questions.
Or you can order online at the Gold Information Network. You can pick from Swiss Gold Bars, American Eagles, or Canadian Maple Leafs gold coins. Use your Visa, MasterCard, American Express, or Discover Card for immediate delivery.
Click here for Today’s Best Gold Buys - http://goldinfo.net/bestbuys.html
Sincerely yours,
Ross Busler
Ryan Denby
Mike Swingler
Gold Specialists
Austin Rare Coins & Bullion
The Gold Information Network
1-800-928-6468
P.S. Austin Rare Coins & Bullion has served investors, collectors, and fellow coin dealers since 1989. We’re a member of BBB online, PCGS, NGC, and we support the Industry Council for Tangible Assets. The Gold Information Network is a division of Austin Rare Coins, Inc. and a recent winner of the Yahoo Top Service Award.
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Comments
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
thread was initiated by Goldsaint to keep track of it all. In fact I can recall a number of "friendly" wagers as gold moved through the $400-$500-$600 range. Barbarous times indeed!
I still give gold's "Numismatic Paul Revere" award to Maurice Rosen and his Rosen Numismatic Advisory Newsletter for highlighting gold's potential in July/August of 2002. Gold was about $300 at the time. In an interview with Jim Sinclair it became painfully obvious we were screwed due to hundreds of trillions in otc derivatives. And this was long before the Ponzi scheme in housing even got off the ground. A bad ending was just a matter of time. It was unfortunate the wider numismatic community never get the benefit of that article. Sinclair was then calling for $1250 gold using the same formula he used in the 1970's to predict $900 gold. The difference with Sinclair's gold call was that he explained in great financial detail why it was going to happen and not just because gold was dirt cheap at the time.
roadrunner
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870