With silver and platinum barely hanging on by their fingernails I think you better have your safety net under you when gold drops under $1500.
1420 gold
1450 platinum
22 silver
Just sayin ...
Poly member 03985
Interesting ... Reuters Metals Consulting Firm is predicting $2000 by year’s end. I'm paraphrasing: "Any long-term softening in the price will be offset by fears about the global economy."
Just sayin ...
Poly member 89461
Agreed. There is less "secondhand" metal being absorbed by the market ... if metals ever had legs to move higher, the next move is coming. I think gold will hit $2,000 within 12-24 months ... I don't follow silver, have no clue, but gold is holding tight at the 1650 range and there is buying on dips. That shows that big money is stepping in and buying dips. Gold is only about 10% from its all-time high ... some are acting like it fell of a cliff. The S&P just corrected by almost that same amount and nobody is heading for the hills; that is simply how markets work. Gold and the S&P pretty much made a technical correction.
Poly member 01332
NYT is saying that subprime lending is picking up as the rich look for better returns on their capital. If that takes off again we'll spike the money supply and I could see the price of gold picking up steam. But I can also see it dropping 20% before it starts to climb again.
Poly member 141140
Any gold wagers? Last time nobody would put their $$$ where their forecast was.
$10 grand ... gold hits $2000/oz within 24 months.
Anyone ?
Poly member 01332 B
I have ONE grand that says it won't hit 1999 within one year ...
Poly member 00330
We'll take the bet. This is a no-lose bet. If it does hit $2,000, our OTC business will go through the roof and I will be more than happy to pay you $10K. If not, we just made $10K!
Poly member 93828
I do not have 10 grand to lose either way. However, I don't think gold will reach $2,000 in two years. I agree with Jeff that we certainly will not see $1,999 gold in one year.
On the other hand Rick is the Guru!!
Poly member 04023
This may sound strange but I am betting with Rick, not against him. I want gold to hit 2000; we will make a ton of money from increased metal buying and selling. Listening to Rick over the last eight or so years has made us more money than we can remember. We just had to take him up on the gamble. Neither of us can lose on this one. Like I said, if you could increase your buys by a couple of hundred grand a month if gold hit 2000, would you not gamble 10 grand to make it happen?
Poly member 93828
Every year for 3-4-5 years now you have said that "no way will gold go higher". Every single year: $900, $1000, 1200, 1800, mercy. In the meantime gold has DOUBLED. Anyhow ... eventually you will be right. I just looked at the dollar index for 3 years, it is almost the same, with some ups and downs along the way, so dollar strength/weakness has nothing to do with gold doubling in the past few years. You are determined to make your point ... but it simply is not valid. Sorry. Gold is higher because nations have printed vast amounts of currency. Gold is higher because many fear the ever-escalating debt in the USA and dozens of other countries. Again, would you want Greek/Spanish debt, or gold? I know, you prefer foreign debt because all is well. I'd say that many would not agree and prefer gold. Gold is highly liquid, easily transported, and appears to be a much better bet than most nations’ currencies.
I know that you don't agree. I am just stating the way I read the tea leaves. Happy trading,
Poly member 01332
