Where now my merry men...What is next for Gold and silver?

Bear

Damned If I know.

chumley

back to $40 by November

jmski52

All I can tell ya, Bear is that none of the pressure on the dollar has been relieved. They will talk and posture, and make noises and pretend - but I don't see any kind of policy changes, I don't see any sea change in the financial disaster or it's causes, and I don't expect any.

That being the case, I expect a volatile path upwards for the metals. Still.

Got any other rationales?

Cohodk would have you believe that deflation is a possibility. Well, yeah - anything is possible, but we have a Minister of Finance who has promised his masters at The Goldman Sach and JP Morgue that he would never let deflation take hold, even if he has to drop money from helicopters.

Dang, was that a Blackhawk?

Of course they all lie about everything. It's endemic and pathological in DC. They simply can't help themselves. Buy gold.

derryb

While the fundamentals remain unchanged (actally better than ever) I expect all markets to take a short term hit. PMs will be no exception, as there will be (unbelievably) a temporary flight to cash. When the smoke clears, and heads are thinking strait, we will see PMs become stronger than ever. Its gonna be 2008 all over again in the markets but only worse for everything except PMs; PMs will see less of a hit, but offer buying opportunities.

I base this on the ending of QE2 with its replacement still a rumor. Until the rumor is confirmed "cash is king."

Bear

I just do not see any way out other then everyone cancelling out all debt and

starting over. I can not believe that interests rates can be suppressed forever.

once they go up, we as a Nation could not even service the debt let alone every

hope to pay it off. Mark my words, The Nations leaders will be forced to retrench,

bring our military home and close most oversea basis. One can not eat cake

when you can not afford bread. If the economy remains as it is much longer,

I believe we will see some civil unrest starting with some totally unrelated matter.

As soon as cuts are made in welfare and food stamps, all hell qwill be breaking loose.

The Dems seem to understand that, the Repubs dont seem to. It is really sad, because

it takes both Parties ,working together, to make an effective Government. Watching ours

perform, is like watching a whole school on kindergarten kids at a fire drill. I am somehow

embarrassed,for what had once been a great and effective Nation. We had happy people,

good jobs and the family could afford to have the wife at home raising the kids and the

man only had to work one job to pay the mortgage. This Nation was secure behind two

oceans and the future looked ever brighter. It was the American Century and the entire world

knew it. What has happened to us, in the past 40 years? We now stand uncertain of the future,

again one third of the Nation is ill housed, ill fed and ill clothed. We owe more then we can ever pay,

we never hear the truth from any Government official and no one is really sure what to do, how to do it

or when to do it. It has all become a state of madness and uncertainty.

dpoole

David Brooks got after it this week:

The Hamilton Party

Bear

That was a damn fine article he wrote. I could not agree more.

I just wish we could vote for a Party that was able to do something,

anything to get this Country back on its feet. It might take 20 years,

but it sure would be nice to start.

secondrepublic

Gold $5,000 and $100 silver before it's all over. A blow-off top and then a huge crash.

ricko

The Brooks article was very good.... too bad he is a voice in the wilderness. Looking at the economic picture... gold and silver will sit for a bit.. and then begin the next rise to $2000/oz and $85/oz. Cheers, RickO

CaptHenway

I predict that metals will go up and down at random intervals!
TD

pmcollectour

(Kitco News) -- Gold ticked higher Friday morning in response to a global economic assessment from the International Monetary Fund, with technically oriented buying accelerating the metal’s gains, says Jim Steel, analyst with HSBC. The IMF cut its forecast for U.S. growth and said the U.S. and debt-plagued European nations are “playing with fire” if they don’t control their deficits. “The IMF comments are supportive for gold,” Steel says. “Also, there are still plenty of sovereign risk concerns. Stops were elected over $1,535.” Stops are pre-placed orders to buy or sell when certain chart points are hit. “That helped rescue the silver market too,” Steel says. At 10:25 a.m. EDT, Comex August gold was $6.70 higher at $1,536.60 an ounce and had been as lofty as $1,541.80. July silver was up 14.6 cents to $35.705.

Baley

IMO the metals group, as well as commodities in general, are in for a long, boring sideways movement, as in a fairly narrow trading range oscillating around intermediate term moving averages. Gold looks drawn toward the 1500's, and silver the middle 30's

food and energy will react to the news, which will reflect trends and events in weather for the former, and political and economic stability of producers for the latter

but generally, stability is the name of the game for the next year and a half, again IMO and again, barring huge news events such as particular disasters

mhammerman

Hummmmmmmm...food stuffs are going to continue to be in increasingly higher demand and that's without some giant crop failure. It seems that we are experiencing climate change to some degree but don't interpret that to mean Big Al has even begun to convince me that he has a clue other than getting the money. Climate change is a natural process as the climate is never static but always evolving. But it seems likely that a regionalized food crisis in some parts of the world could be anticipated because of climatic evolutions that are changing established weather patterns. The world food supply is already pretty tight. Good beef in the US will likely get much more expensive in the next few months after the markets have absorbed the current cull and of course, we can all see what coffee is doing.


Oil/energy, hummmmm, we have a lot of unrest in the mideast and it has been esclating since we went into Afghanistan to where we now see is what could be characterized as wide spread anarchy in the region...yet gas is still under $4 in the US. Our national bridges and roads are suffering from maintenance issues as is our power grid yet no dramatic gas tax or utility tax increases, state or fed, to fund infrastructure repairs seems to be in the current mix. Interesting to consider that a gallon of bottled water will cost more than a gallon of highly refined, transported, marketed, unleaded, summerblended, in your tank, gasoline. What's gonna take to light this thing up...peak oil?

Metals...silver is volitile, gold is steady; continue on until further notice.

This has been a very good year for my tomato plants...good crop.

Get CASH

CaptHenway

But....but.....THERE IS NO INFLATION!!!!!
Our government tells us so!
TD

DesertDweller

<< <i>I just do not see any way out other then everyone cancelling out all debt and

starting over. I can not believe that interests rates can be suppressed forever.

once they go up, we as a Nation could not even service the debt let alone every

hope to pay it off. Mark my words, The Nations leaders will be forced to retrench,

bring our military home and close most oversea basis. One can not eat cake

when you can not afford bread. If the economy remains as it is much longer,

I believe we will see some civil unrest starting with some totally unrelated matter.

As soon as cuts are made in welfare and food stamps, all hell qwill be breaking loose.

The Dems seem to understand that, the Repubs dont seem to. It is really sad, because

it takes both Parties ,working together, to make an effective Government. Watching ours

perform, is like watching a whole school on kindergarten kids at a fire drill. I am somehow

embarrassed,for what had once been a great and effective Nation. We had happy people,

good jobs and the family could afford to have the wife at home raising the kids and the

man only had to work one job to pay the mortgage. This Nation was secure behind two

oceans and the future looked ever brighter. It was the American Century and the entire world

knew it. What has happened to us, in the past 40 years? We now stand uncertain of the future,

again one third of the Nation is ill housed, ill fed and ill clothed. We owe more then we can ever pay,

we never hear the truth from any Government official and no one is really sure what to do, how to do it

or when to do it. It has all become a state of madness and uncertainty. >>



Wow, you really nailed it. Excellent post!