When the HELL is Gold going to go though the $1000 barrier?

[BiscayneSunrise]

Re: When the HELL is Gold going to go though the $1000 barrier?

stockman,

You always have the best charts. Thanks.

If you are a trader, then you favor volatility. So oil has been more profitable than gold over the past 18 months.

As people gain a larger risk appetite, gold may continue to languish while other inflation hedges that correlate to economic activity like copper, oil, etc will continue to climb.

Once we hit the next leg down in equities, gold will likely re-assert itself.


BTW stockman, could you expand on farm land as an investment. Type of land, parts of the country, best crops, water availability, transportation costs, etc.

My understanding was that places like Pennsylvania, Indiana, Iowa, Wisconsin were the gold standard for agriculture. As you got away from there, viability and values decrease.

[stockman]

Re: When the HELL is Gold going to go though the $1000 barrier?

stockman,


BTW stockman, could you expand on farm land as an investment. Type of land, parts of the country, best crops, water availability, transportation costs, etc.

My understanding was that places like Pennsylvania, Indiana, Iowa, Wisconsin were the gold standard for agriculture. As you got away from there, viability and values decrease.

Whoa, you're giving me way too much credit. I don't have that kind of national experience/knowledge. The state my farm is in was determined by other than investment considerations, but I felt it a prudent investment all the same.

You might look at this Callan paper on institutional farm land investing, it has some good data- Farm Land Investing Callan.pdf

Other data here- Farm Real Estate Values USDA.pdf

[ddn3f]

Re: When the HELL is Gold going to go though the $1000 barrier?

What does your favorite technician say this week. It looks like the correction in Gold is taking place.

The argument (on May 28th) from this technicians point of view is: Gold is in a perfect time window for a correction down to about $900.00 - possibly $880.00.

There is also an important time window for a very important low in late June. Should it bottom there and turn up for another run back up to the highs it will at that point most likely break thru the "Magic Mega" $1,000.00 mark.

IF it happens in said manner, I (as in me - not Lorusso) would expect it to run up to about $1,190.00 in very short order, and possibly to $1,320.00 before it has any real pullback. (Hope I don't have to eat those words!)

[Raz]

Re: When the HELL is Gold going to go though the $1000 barrier?

What does your favorite technician say this week. It looks like the correction in Gold is taking place.

Most favorite technician say:

GOLD** JUNE '09

Resistance 970. Support 880 initially. We are short gold and came close to being stopped out a couple of sessions ago. Today the market backed off leaving an outside day down on the daily chart. The range expanded and it looks like gold has turned after testing the February high unsuccessfully. A healthy pullback is suspected to be starting. This week’s activity on the weekly bar chart implies lower ahead with prices scoring a new high for the move and then closing at the weekly low basis the nearby contract. RL6/05

So far it appears that, once again, he was right. We should see a continuing decline in gold to the $900 area.
Be that as it may, as long as the Spot Future (June '09 for now, soon to be August '09) doesn't close below $865 we should then see the beginning of another rally to once again challenge the highs. Since such a rally would be the "Fourth Time" - it should break through the $1005.00 mark.

Remember: Technical analysis is a windsock - NOT a crystal ball.

[rjwjr]

Re: When the HELL is Gold going to go though the $1000 barrier?

So what would that price be as of 2009?:eek:

P.S. Answer is $6880 per Oz/Au! Cool, new gold target price!!

I believe I just wet myself.

[big67]

Re: When the HELL is Gold going to go though the $1000 barrier?

I think gold will be part of a basket of commodities in this commodity backed new currency scenario.

Your thoughts?

[Raz]

Re: When the HELL is Gold going to go though the $1000 barrier?

The chartist for Institutional Investors (Bob Hoye's company) also believes gold is likely to correct downward providing one last buying opportunity before it lakes out the $1,000 mark - and remains above it for a long time.

But gold is the ONLY thing Bob Hoye wants to hold - other than cash.
He believes we are soon to make a secondary top in the S&P 500 followed by a slow, grinding wipeout in equities - and lower bond prices as well.

[dummass]

Re: When the HELL is Gold going to go though the $1000 barrier?

Thanks Raz,

The report is dated June 5th. We have already seen a pullback to $950.

Do you think we have hit bottom? Or should we wait for a lower entry point?