Gold GOING to get Killed!!!!

[Jay]

Re: Gold GOING to get Killed!!!!

I'd be into buying a house with *one* of my gold coins!

If we are there, buy one with a wall and a moat.

[jmaxey]

Re: Gold GOING to get Killed!!!!

Trying to get the knack of posting here, please bear with me. GLD (the ETF) may get killed as the asian countries and other centers of wealth begin taking custody of their newly purchased money and the whole thing blows sky high. In the end this is geopolitical and will end in war. But then I could me wrong.

[Dr.No]

Gold likely to have a minor 6-10% correction from around $1200, then rise to $1400+ by spring 2010

I doubt gold is about to get killed any time soon.

However, gold likely to have a minor 6-10% correction from around $1200, then rise to $1400+ by spring 2010.

Furthermore, gold looks set to rise priced in barrels of oil as well as monopoly money.

---

"We previously stated that gold might have entered a steeper rate of ascent in line with a suggested new channel marked by the two dark blue lines (refer to chart in article), and that the orange channel might therefore be broken and left behind.

That may be precisely what is happening, as gold slammed through the upper orange channel line. We are looking for a short-term correction of 6-10% from around $1200 +/- 2%, followed by a rise to around $1400 or higher in the spring of 2010."

http://thedailygold.com/chartstechni...alysis/?p=568/

[stanley2008]

Re: Gold GOING to get Killed!!!!

Gold cycles in the very long term against paper.

Gold is a crappy investment when paper is going up.

When paper is falling, gold becomes a very good investment.

That's where we are right now.

Bubbles are rare in normal terms. The ones we've had are recorded in history books.

Only recently have bubbles become more common due to total fiat money everywhere in the world.

I expect this episode of history to be short lived.

Commodity backed money will return, made possible by easy exchanges on the Internet.

Nobody will ever trust fiat again.

Meanwhile, gold won't get killed ;)

Is "paper" really falling?

I mean, I think it's very likely that the USD will be strong for the next year! Despite what it should do, or what anyone says it will do. I say the USD is going to be stronger in 2010 than it is today. Maybe it makes no sense, but that doesn't matter at all, you and I will just have to accept it, and maybe someone will try to explain it.

Why will the USD be strong for the next year? Because that's what "they" want. At least for now. Maybe eventually it will all get out of control for the men behind the curtain in the USA, and the USD will fall despite what "they" want. But you have China playing by the US rules, and OPEC playing by US rules, and every country playing by US rules. It's going to take a while to figure out the exit strategies before the USD is allowed to drop like a peso.

Yes, it should drop to half it's value, but it will not drop at all.

Gold can still go up.

As for gold getting "killed" - Around here people are saying that if gold were to go to $1000.00 now it would be "killed". I say big deal, its only a 20% drop. That's not killed. Dropping to half it's current value, that's getting killed folks, and that is tough to believe for me.

[jmaxey]

Re: Gold likely to have a minor 6-10% correction from around $1200, then rise to $1400+ by spring 20



Sounds about right to me...$1300 +/- with $HUI going to $525 and then on to $650. Defenestration will come to be a well worn word at central and bullion banks. May the sword of justice smite these sons of bitches.

[MulaMan]

Re: Gold GOING to get Killed!!!!

Don't you need debt driven leverage to create a true bubble?

I just don't see enough people in America with cash ready to go out and create a gold buying mania. Although perhaps China & Japan?

or until there is a Goldie Mae created so that we can borrow USD at low rates and buy gold.

[DRumsfeld2000]

Re: Gold GOING to get Killed!!!!

A lot of interesting comments. I note that Jim Rogers said that gold could not be in a bubble until it goes past its last all time high adjusted for inflation which is about $2250. I am sticking with my gold investments which I have been in for several years now. May well buy some more when the markets crash in 2010.

As an aside, it seems to me that people still firmly believe in property. My sister recently bought a house with a massive mortgage and yet with the threat of unemployment hanging over the family. I do not get it. Despite warning her time and again about the economic situation she has always gone back to property investments and lost a fortune. She and her husband are both highly qualified professionals.

[Raz]

Re: Gold likely to have a minor 6-10% correction from around $1200, then rise to $1400+ by spring 20

... May the sword of justice smite these sons of bitches.

Yes, indeed. And let this be the first neck sliced.




Quickly followed by these two necks:

[pwcmba]

Re: Gold GOING to get Killed!!!!

6 trading days remain.

[audrey_girl]

Re: Gold GOING to get Killed!!!!

very interesting post - thanks everyone - but I cannot imagine how any rational person can NOT see what is right around the corner. This is why gold is NOT going to get killed....

12 trillion dollar debt
100 trillion in unfunded govt pensions and liabilities
2 trillion dollar deficit -09 (including off-budget items too)
2 trillion dollar deficit - 10 (including off-budget items)
3 wars on the other side of the planet (Afghanistan, Pakistan, Iraq)
Imminent passage of another triliion dollar 2000 page health care bill
10,000 baby boomers retiring a day - with NO pension, NO savings, and for a significant proportion of them NO home equity

this is a train wreck of biblical magnitude

as an American - I try to be optimistic I try to see, reason, figure out some way that this country can extricate itself from this mess - but for the life of me, I cannot see a way out

sorry - do NOT want to hijack this thread, do NOT want to get onto politics or anything like that - but unless an until someone explains away the above facts - then imho - gold is going to the moon

[ThePythonicCow]

Re: Gold GOING to get Killed!!!!

but unless an until someone explains away the above facts - then imho - gold is going to the moon

You explain the U.S. finances going down; that doesn't mean gold goes up. One also has to consider what political/fjnancial/economic powers displace the U.S. and determine how they treat gold.

[pescamaaan]

Re: Gold GOING to get Killed!!!!

When/if treasury bonds go to 10% what happens to the price of gold?

[skidder]

Re: Gold GOING to get Killed!!!!

For every point of interest that T-Bills go up, it costs the US another 250 billion to service the debt, or so I read. So, unless you see a way for the US to service another 2+ trillion in debt payments (currently being 2 trillion or so in deficit spending as we speak), gold isn't going to give a crap about the 10% interest rate since the gov't default or monetization will happen shortly thereafter.

[Dr.No]

Don't particularly like the way gold is acting right now...

Don't particularly like the way gold is acting right now. After the break below 1100 and the weak looking sideways move, I sold out last night at 1097 for a bit more than a one percent loss. Bought back again today at 1081 and sold at 1089. The odds are increasing that we could see a larger drop toward major support starting at the 1034 high from March 2008. I may just trade gold short term from the long side until we either get down closer to 1034 (not all the way down to it, just close enough) or see a solid close back above the 50 day moving average. The 50 dma has continued to rise, and gold is now farther below it than is normal during short-term corrections. In other words, gold has been acting weaker than normal if this is to be no more than a short-term correction. That may soon change, but I'd like to either see some strength or a further decline toward more substantial support before getting too excited.

http://www.facebook.com/photo.php?pi...d=140608094660

[iyamwutiam]

Re: Gold GOING to get Killed!!!!

very interesting post - thanks everyone - but I cannot imagine how any rational person can NOT see what is right around the corner. This is why gold is NOT going to get killed....

12 trillion dollar debt
100 trillion in unfunded govt pensions and liabilities
2 trillion dollar deficit -09 (including off-budget items too)
2 trillion dollar deficit - 10 (including off-budget items)
3 wars on the other side of the planet (Afghanistan, Pakistan, Iraq)
Imminent passage of another triliion dollar 2000 page health care bill
10,000 baby boomers retiring a day - with NO pension, NO savings, and for a significant proportion of them NO home equity

this is a train wreck of biblical magnitude

as an American - I try to be optimistic I try to see, reason, figure out some way that this country can extricate itself from this mess - but for the life of me, I cannot see a way out

sorry - do NOT want to hijack this thread, do NOT want to get onto politics or anything like that - but unless an until someone explains away the above facts - then imho - gold is going to the moon

I am going to have to agree with everything she said -because it is so rational. Mark Faber made essentially the same points on that interview -someone posted here.