Well it's been going up and down but a $300 gain in a month isn't completely off the table, especially with the possibility of big shocks (expected as they may be) in Europe.
I vote Meow Meow not momo. Gold chart (GLD) looks like a text book example of a rally failure on low volume. YMMV, and there are still those on this forum that say charts are meaningless. Okay.
1) a strong dollar due to the European debt crisis?
2) a rush to liquidate all assets in front of the stock market breakdown?
3) a lack of inflationary expectations?
4) a recognition that the US debt problem can be managed away over time?
5) confirmation Elliot Wave theory expectations?
Don't charts mainly reflect current cash positions juxtaposed over historical price movements? I don't know that I'd go along with the idea that charts can gauge market sentiment, and we've got alot of market sentiment going on here.
Q: Are You Printing Money? Bernanke: Not Literally
1) strong dollar, relative 2) ding, ding, ding, ding.... 3) ?, Thanksgiving will cost us nearly 15% more this year. But were told inflation is around 2% (shhhh, excluding volatile food and energy). "These are not the inflationary droids you are looking for." 4) never gonna happen.... 5) EW, to hard to figure out in advance. Only obvious after the fact when numbers are messaged.
So, #2...final answer. But what happens after the Euro crisis plays out?
Some actually believe we will cyut spending and all will be well. We may see a real pop when they finally see the guys on Capital hill won't pass anything that cuts spending and the "out of control" phase really kicks in.
<< <i>My opinion is that gold will not exceed $1850 nor silver exceed $40 for the remainder of 2011.
In fact, I think we're in for trading ranges of 1650-1850 and 28-38 for quite a while >>
Barring a parabolic spike, the metals have probably gotten all the attention they deserve. Dramatic outperformance, like we've seen over the past decade, is probably over.
<< <i> "These are not the inflationary droids you are looking for." >>
LOVE IT!! But I totally agree. The same with the unemployment number... Different debt books... Etc ex etc... >>
I believe the USA is at a unique point in time. Economic factors point to deflation (high unemployment, spending way down, house prices collapsing still, prime rate near zero). OTOH, the Fed is printing more money like it's going out of style, which normally would lead to inflation. Long term, I expect gold to continue an upward trend (silver too). By the end of 2011 we may see $1850 gold, $37 silver but there will be wide fluctuations on the way. But, as the man said, your guess is as good as mine.
While my personal prediction (along with others) was for $2000 gold by years end, I think it is more likely to be $1800-$1900... of course, predictions are just guesses... whether gut feel or arrived at through tedious hours of chart analysis and blog reading.... We shall see...six weeks from now, let's have a thread on "Where we are".... Cheers, RickO
Why would anyone trust anything that GS has to say??? GS probably put on a pile of extra shorts after their prediction, lure the lemmings in then push them off the cliff and if it all blows up in your face get the taxpayers to bail you out.
<< <i>Why would anyone trust anything that GS has to say??? GS probably put on a pile of extra shorts after their prediction, lure the lemmings in then push them off the cliff and if it all blows up in your face get the taxpayers to bail you out. >>
Not this time...instead they are laying off 1k+ workers, who probably were not involved in the above scheme.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
I was as surprises as anyone when it broke $1650, we see it climbing back from the momentary oversell, soon to be back in the range. Silver once again held $28. I just think there are a lot of people that want to buy silver under 30 and sell it near 40 and am now even more confident it's rangebound. Platinum IMO should be closer to 1800 with the sister metals where they are.
It appears that reserve banking in secured metal in warehouses has finally been exposed. It appears some of this metal for which customers are being charged a dusting fee has been sold to more than a single person.
God only knows how much money is actually in gold and silver and how fast warehouse receipts can be converted to metal in hand.
On CNBC at lunchtime, the commentators stated that many hedge funds have liquidated their PM positions for the year and have gone on vacation until 2012. All of the volatility is on extremely light volume.
<< <i>On CNBC at lunchtime, the commentators stated that many hedge funds have liquidated their PM positions for the year and have gone on vacation until 2012. All of the volatility is on extremely light volume. >>
Over the past week, volume on GLD has been about the average over the last 2 months.
<< <i>My opinion is that gold will not exceed $1850 nor silver exceed $40 for the remainder of 2011.
In fact, I think we're in for trading ranges of 1650-1850 and 28-38 for quite a while >>
Barring a parabolic spike, the metals have probably gotten all the attention they deserve. Dramatic outperformance, like we've seen over the past decade, is probably over. >>
Hey now, my GUT feeling is Silver is headed to $350.00 and Gold up to the $ 7,000.00 range for a grand parabolic spike that has been anticipated for the past 30 years. My new motto "Don't Tread on my Guts"
NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
<< <i>My opinion is that gold will not exceed $1850 nor silver exceed $40 for the remainder of 2011.
In fact, I think we're in for trading ranges of 1650-1850 and 28-38 for quite a while >>
Barring a parabolic spike, the metals have probably gotten all the attention they deserve. Dramatic outperformance, like we've seen over the past decade, is probably over. >>
Hey now, my GUT feeling is Silver is headed to $350.00 and Gold up to the $ 7,000.00 range for a grand parabolic spike that has been anticipated for the past 30 years. My new motto "Don't Tread on my Guts" >>
I believe gold to $5000 is a done deal. Above that would cause me consternation since I'm still long on the US and world economies. Someday silver will go higher. I don't believe even $50 is for sure when gold hits 5000 but the gold silver ratio will be five in the not so distant future. It's possible the economy will be repaired by then and government budgets will be in balance but in the next couple or three decades five ounces of silver will buy an ounce of gold. This won't last because silver production can be increased.
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1) a strong dollar due to the European debt crisis?
2) a rush to liquidate all assets in front of the stock market breakdown?
3) a lack of inflationary expectations?
4) a recognition that the US debt problem can be managed away over time?
5) confirmation Elliot Wave theory expectations?
Don't charts mainly reflect current cash positions juxtaposed over historical price movements? I don't know that I'd go along with the idea that charts can gauge market sentiment, and we've got alot of market sentiment going on here.
I knew it would happen.
2) ding, ding, ding, ding....
3) ?, Thanksgiving will cost us nearly 15% more this year. But were told inflation is around 2% (shhhh, excluding volatile food and energy). "These are not the inflationary droids you are looking for."
4) never gonna happen....
5) EW, to hard to figure out in advance. Only obvious after the fact when numbers are messaged.
So, #2...final answer. But what happens after the Euro crisis plays out?
<< <i>So, is the GS(?) prediction of $2,000 gold by Year's end gonna happen? >>
Ever heard of the expression: "when Hell freezes over?"
In fact, I think we're in for trading ranges of 1650-1850 and 28-38 for quite a while
Liberty: Parent of Science & Industry
Thats ok all....I will just keep stacking.Perhaps at bargain prices.
<< <i>My opinion is that gold will not exceed $1850 nor silver exceed $40 for the remainder of 2011.
In fact, I think we're in for trading ranges of 1650-1850 and 28-38 for quite a while >>
Barring a parabolic spike, the metals have probably gotten all the attention they deserve. Dramatic outperformance, like we've seen over the past decade, is probably over.
Knowledge is the enemy of fear
and gold at around $1650-$1750 till the end of the
year !!!
Worry is the interest you pay on a debt you may not owe.
important to see what the close is for POG 12/30/2011 vs 2010 chart~wise
<< <i> "These are not the inflationary droids you are looking for." >>
LOVE IT!! But I totally agree. The same with the unemployment number... Different debt books... Etc ex etc...
BSTs with: Coll3ctor, gsa1fan, mkman123, ajbauman, tydye, piecesofme, pursuitofliberty
Travelog - 20in20travels.com
<< <i>
<< <i> "These are not the inflationary droids you are looking for." >>
LOVE IT!! But I totally agree. The same with the unemployment number... Different debt books... Etc ex etc... >>
I believe the USA is at a unique point in time.
Economic factors point to deflation (high unemployment, spending way down, house prices collapsing still, prime rate near zero).
OTOH, the Fed is printing more money like it's going out of style, which normally would lead to inflation.
Long term, I expect gold to continue an upward trend (silver too).
By the end of 2011 we may see $1850 gold, $37 silver but there will be wide fluctuations on the way.
But, as the man said, your guess is as good as mine.
<< <i>My opinion is that gold will not exceed $1850 nor silver exceed $40 for the remainder of 2011.
In fact, I think we're in for trading ranges of 1650-1850 and 28-38 for quite a while >>
Good call so far..little bid high on your Gold range. As much as I would like to see Silver at $40+ again...it's unlikely to happen any time soon.
<< <i>Why would anyone trust anything that GS has to say??? GS probably put on a pile of extra shorts after their prediction, lure the lemmings in then push them off the cliff and if it all blows up in your face get the taxpayers to bail you out.
Not this time...instead they are laying off 1k+ workers, who probably were not involved in the above scheme.
Liberty: Parent of Science & Industry
some of this metal for which customers are being charged a dusting fee has been sold to more than a
single person.
God only knows how much money is actually in gold and silver and how fast warehouse receipts can be
converted to metal in hand.
What a mess!
Knowledge is the enemy of fear
<< <i>On CNBC at lunchtime, the commentators stated that many hedge funds have liquidated their PM positions for the year and have gone on vacation until 2012. All of the volatility is on extremely light volume. >>
Over the past week, volume on GLD has been about the average over the last 2 months.
Knowledge is the enemy of fear
<< <i>
<< <i>My opinion is that gold will not exceed $1850 nor silver exceed $40 for the remainder of 2011.
In fact, I think we're in for trading ranges of 1650-1850 and 28-38 for quite a while >>
Barring a parabolic spike, the metals have probably gotten all the attention they deserve. Dramatic outperformance, like we've seen over the past decade, is probably over. >>
Hey now, my GUT feeling is Silver is headed to $350.00 and Gold up to the $ 7,000.00 range for a grand parabolic spike that has been anticipated for the past 30 years.
My new motto "Don't Tread on my Guts"
<< <i>
<< <i>
<< <i>My opinion is that gold will not exceed $1850 nor silver exceed $40 for the remainder of 2011.
In fact, I think we're in for trading ranges of 1650-1850 and 28-38 for quite a while >>
Barring a parabolic spike, the metals have probably gotten all the attention they deserve. Dramatic outperformance, like we've seen over the past decade, is probably over. >>
Hey now, my GUT feeling is Silver is headed to $350.00 and Gold up to the $ 7,000.00 range for a grand parabolic spike that has been anticipated for the past 30 years.
My new motto "Don't Tread on my Guts"
I believe gold to $5000 is a done deal. Above that would cause me consternation since I'm still
long on the US and world economies. Someday silver will go higher. I don't believe even $50 is
for sure when gold hits 5000 but the gold silver ratio will be five in the not so distant future. It's
possible the economy will be repaired by then and government budgets will be in balance but in
the next couple or three decades five ounces of silver will buy an ounce of gold. This won't last
because silver production can be increased.
<< <i>I do not believe it will hit $2K... I did, but things have changed. This will continue until the European mess plays out. Cheers, RickO >>
I thought the prospect of a major currency or country collapsing was supposed to be good for gold? I guess things have changed.
Knowledge is the enemy of fear
<< <i>
<< <i>I do not believe it will hit $2K... I did, but things have changed. This will continue until the European mess plays out. Cheers, RickO >>
I thought the prospect of a major currency or country collapsing was supposed to be good for gold? I guess things have changed. >>
Nothing has changed.
You still can't fool mother nature.
No matter how hard they try. You can't take out more than you put in and the bankers can't change logic and math.
There are absolutes and there are truths. They will bite youin the end.