Gold to fall to $550...

[icm63]

Tripple top in, bulls have failed 3 times to get past $1000.

Selling too strong from fund liquidations. Short period of disinflation/deflation before inflation returns, latter on (years).

BUY below $650 once.

This is exactly what happened in 1970/80s, a massive rally, 50% sell of then a massive 10 times your money rally after the sell off.

Ref: www.chartsrus.com for further study.

Gold.jpg

[phirang]

Re: Gold to fall to $550...

Historical inference can be specious.

[nickz34]

Re: Gold to fall to $550...

very real possibility as the Amex Gold Mining Index ($GDM) is at levels not seen since June 2005. At the time, gold was selling at $425/ounce.

I think there is a very real possibility that your $550 target will prove to be quite optimistic.

Nick

p.s. I also think that the ultimate high for gold at some point during an Obama presidency is north of $2,000.

[Starving Steve]

Re: Gold to fall to $550...

very real possibility as the Amex Gold Mining Index ($GDM) is at levels not seen since June 2005. At the time, gold was selling at $425/ounce.

I think there is a very real possibility that your $550 target will prove to be quite optimistic.

Nick

p.s. I also think that the ultimate high for gold at some point during an Obama presidency is north of $2,000.

Isn't it interesting that the Republicans--- the ones who caused this economic tragedy with their deficit spending for endless wars, ridiculous spending for military toys, bail-out schemes for Wall Street, bail-outs for bankers, tax holidays for the rich, etc.--- are the same Republicans now who are suggesting that the Obama presidency might drive gold to $2000? Make no mistake about it, the real inflationists have been the neo-cons in the Republican party, not the liberals and not the Democrats.

[hellstan]

Re: Gold to fall to $550...

Quite possibly 650.
I'm firmly sitting on my position and expect to buy more in the descent.

[Guest]

Re: Gold to fall to $550...

Way to go Hellstan.

[hellstan]

Re: Gold to fall to $550...

What do you mean, dear Luke…?

[Guest]

Re: Gold to fall to $550...

"I meant what I said and I said what I meant" ... No cute remark here. It is a maelstrom that few will be able to finesse. The only way forward is to make your macro call and stick to it. You'd better be damn sure your macro call is correct but if it is, then cost averaging down is the correct approach. Don't be so prickly! I agree with your call.

What do you mean, dear Luke…?

[hellstan]

Re: Gold to fall to $550...

Dear Luke,
I'm not being prickly, I was genuinely asking.
This forum is one of best places I know, with many respectable advices.
Besides, one of my best friends is in Carlsbad, and we love to dine at the Coronado…

Seriously, I'm not averaging gold down. But I will be delighted to buy more at some prices I already visited. ;)

I have a sheer luck : just received a large amount of money which I undoubtedly would have squandered in this floppy market, had I
cashed it earlier. So now I'll have the means to be cautious. :cool:

[LargoWinch]

Re: Gold to fall to $550...

I sleep very well with gold in my portfolio; much less without it.

On top of my head, among the CBs unprecedented liquidity, I woke up this morning with this:

http://www.bloomberg.com/apps/news?p...M&refer=europe

[hellstan]

Re: Gold to fall to $550...

Ha-ha, I have one bank account with ING.
Fortunately, none of my assets.

Nevertheless, in Europe, they might be one of the strong ones.
Dutch are notoriously skinflint.:rolleyes:

[goadam1]

Re: Gold to fall to $550...

The biggest reason gold isn't performing in the goldbug crisis mode seems to be it is a global crisis and the rush to safety is into dollars.

http://ab.typepad.com/ab_analytical_...ckers-bet.html

Tripple top in, bulls have failed 3 times to get past $1000.

Selling too strong from fund liquidations. Short period of disinflation/deflation before inflation returns, latter on (years).

BUY below $650 once.

This is exactly what happened in 1970/80s, a massive rally, 50% sell of then a massive 10 times your money rally after the sell off.

Ref: www.chartsrus.com for further study.

[ATTACH]703[/ATTACH]

[SJ]

Re: Gold to fall to $550...

Forget the stupid charts. Gold just hit all time highs against several currencies last week (AU$, INR, British Pound, Canadian$ and South African Rand) - see James Turk's article in DollarCollapse.com.

Its the strength of the dollar because of all the hedge funds (located in safe havens abroad) liquidating and repatriating finds to their US investors. As EJ has indicated, this could take 2-6 months. That could take gold price in US$ to the 600s or even the 500s, but don't bet on it. Its going to be short term and whiplash right back up.

And pleaassse, don't talk about the stupid charts as being indicative of the future - that's straight out of the dark ages. Let's talk economics. Demand. Supply. Economic Fundamentals.

[Starving Steve]

Re: Gold to fall to $550...

Unfortunately, the investing world follows the trend-lines on the charts, so waves, witchcraft, and wizardry govern the markets, especially the gold market. "The trend is your friend."

[LargoWinch]

Re: Gold to fall to $550...

Really? How come no one followed the Dow 14,000 trend to 20,000?