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Dream........Dare I.............$1000.........$2000..........$5000.. ...
Mike/Liverpool
Mike/Liverpool
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Re: Suddenly Gold @ $860........Dare I..
:pFalling Consumer Costs
Investors also may sell gold in the near-term after the Labor Department reported US consumer costs fell 1.7% in November, the most on record. Some investors buy gold to hedge against accelerating prices. The metal rose 31% in 2007, as consumer costs rose the most in almost two decades.
"In the very short term, inflation is no longer an issue," Zeman said. "If commodities continue to go down, that's going to put a damper on gold."
Technical charts show gold is in a bear market, said Dennis Gartman, an economist and editor of the Gartman Letter.
"Since the high made in March, each high has been progressively lower and so too each low," Gartman said. "This is not a market to buy. This is a market to sell."
Gold reached a record $US1033.90 on March 17.
http://business.theage.com.au/busine...1217-6zyv.html
Where do they get those guys from? -
Re: Suddenly Gold @ $860........Dare I..
Just remember - the Fed is on your side!Originally posted by Mega View PostIt's Economics vs Thermodynamics. Thermodynamics wins.Comment
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Re: Suddenly Gold @ $860........Dare I..
No not yet mike. Maybe 1400 if u are good. But then down then up then down then up and who knows maybe 50k - for real jmhoOriginally posted by Mega View Post
rickComment
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Re: Suddenly Gold @ $860........Dare I..
remember, gold is the anti-dollar...Originally posted by Mega View Post
as the dollar heads to zero, gold will go to infinity (mathematically speaking)
take a look at this (kudos to don and son)
http://www.youtube.com/watch?v=3RhnH...eature=relatedComment
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Re: Suddenly Gold @ $860........Dare I..
Mike - for what it's worth here are the Alf Fields targets, given the stamp of approval recently by Jim Sinclair:Originally posted by Mega View Post
"Jim Sinclair’s Commentary I am much too conservative at $1650. I believe Alf Fields has nailed it. Kudos to Alf." - link
Major ONE up from $256 to $1,015 (actually 4 times the $255 low);
Major TWO down from $1015 to $699, say $700 (a decline of 31%);
Major THREE up from $700 to $3,500 (a Fibonacci 5 times the $700 low);
Major FOUR down from $3,500 to $2,500 (a 29% decline);
Major FIVE up from $2,500 to $10,000 (also a 4 fold increase, same as ONE)
.... for what it's worth.Last edited by ST; December 16, 2008, 11:44 PM.--ST (aka steveaustin2006)Comment
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