Gold will break below $960...

renman95 · January 20, 2014 11:15AM

it's in the script.

"Gold is much more than an investment, it's the backbone of liberty. Without it we will be led by the banksters and their shills down the merry way of slavery, plutocracy and totalitarianism."

I'm not sure if I should laugh or cry.

VanHalen · January 20, 2014 2:32PM

<< <i>it's in the script.

"Gold is much more than an investment, it's the backbone of liberty. Without it we will be led by the banksters and their shills down the merry way of slavery, plutocracy and totalitarianism."

I'm not sure if I should laugh or cry. >>

Neither. The author is struggling with chronology but if the central banks can print their fiat currency with impunity they will do it. Gold is something that stands in their way. They hate gold as do most on Wall Street as it interferes with their goals.

ricko · January 20, 2014 11:23PM

I doubt we will see $960....but then, my prediction of a rally has resulted in just a minimal rise.... Cheers, RickO

Amigo · January 21, 2014 1:24AM

I think it probably is in the script. Afterall, it would only take another 300 tonnne paper trade. There is nothing at all from preventing it at anytime they desire. GS has already given the warning, just like last time.
Our liberties are eroding from multiple fronts and gold certainly can't save us in this country. No one is looking out for the sheepies.

OperationButter · January 21, 2014 1:54AM

Plenty of coins id like to backfill at 960 gold. Bring it on GS

Cakes · January 21, 2014 2:21AM

<< <i>Plenty of coins id like to backfill at 960 gold. Bring it on GS

>>

Agreed, I have always wanted a decent Saint near spot price.

johnny9434 · January 21, 2014 2:30AM

it would be nice but i doubt it.

Timbuk3 · January 21, 2014 2:56AM

Bring it on !!!

OnlyGoldIsMoney · January 21, 2014 3:47AM

Indeed. Bring it.

I would replay my ounce an week addition plan.

reddwing · January 21, 2014 6:12AM

Please bring it!!! At $960 i wonder what the AGE 4-coin proof set would go for?

renman95 · January 21, 2014 8:02AM

Today's (tomorrow to you comrades in the States) Financial Times headline…"Gold survey most bearish since 2002." Hmmm, wasn't that around the time of the last major low of $276? Analysts (28 of them) in the article see POG averaging $1,219 in 2014. The lowest estimate comes from Tom Kendall of Credit Suisse at $950.

I love hearing all this bearishness.

DoubleEagle59 · January 21, 2014 8:12AM

<< <i>Today's (tomorrow to you comrades in the States) Financial Times headline…"Gold survey most bearish since 2002." Hmmm, wasn't that around the time of the last major low of $276? Analysts (28 of them) in the article see POG averaging $1,219 in 2014. The lowest estimate comes from Tom Kendall of Credit Suisse at $950.

I love hearing all this bearishness. >>

Yes, it's been 2 1/2 years of lower gold prices, so I'd say it's perhaps time for a continuing rebound.

jdimmick · January 21, 2014 8:38AM

I was pretty bearish on it a while back, thinking pre 1100 is just around the corner, but this recent hold above 1200 and slight rise has got me thinking a little different. seems the equities market is just waiting for a big correction, so its flat to down slightly. I think people would be nervous about re-entering gold at 1400 +, but there seems to be a lot of intrest to add too positions or even just maintain at the current 1200-1275.00 range.

VanHalen · January 21, 2014 8:55AM

<< <i>Please bring it!!! At $960 i wonder what the AGE 4-coin proof set would go for? >>

Without looking it up I'd guess about $2,200. I remember picking up a set a few years ago for $1,600 when gold was $700.

roadrunner · January 21, 2014 8:59AM

You have to give Mr. Krugs a pat on the back for being 180 degrees out, at least in the short term. While gold and silver have been coiling for weeks, the miners have blasted upwards after a 2-1/2 year decline.
No guarantees this is a long term trend change but it is quite unusual to see them kicking but while gold does down. Apparently, there are people and investors that appreciate the miners digging gold out of the ground.

The biggest problem with Krug's missive is that he is placing too much emphasis on the what the miners are doing. Who cares? There's 165,000 tonnes of above ground gold out there. The miners only add 1-1/2 % per year
to that amount. Which means, the supply/demand curve for gold is almost entirely predicated on the gold already mined and in our hands. That 165,000 tonnes of gold wields influence regardless of whether or not the miners
bring up their paltry 2,800 tonnes per year. How did Krugs with a PhD and a Nobel Peace Prize miss such an obvious point? But it is nice to see the miners on a tear since Christmas. Krugs should have posted this reasearch
back before Christmas....lol. Now I could see a final wash out in gold to $900-$1100 sometime between summer 2014 to fall of 2015. But, I don't see it happening in the next 4 months....if at all. The miners giving this massive
divergence is potentially a huge flag that the trend is reversing. Miners gave the same red flag back in 2011 when they failed to keep up with gold and headed down long before the April 2013 smash. The elevator might now be
retracing that drop.

Miners leading the way

Gold will break below $960...

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