Gold is down 40% from its highs in 2011. This scenario is very similar to 1976 when gold crashed 50%, only to then rise from $100 to $800. Listen to the entire story below including an excerpt from a 1976 New York Times article calling "the end of the gold market" right before the epic rise. [youtube]http://www.youtube.com/watch?v=2aoyg97pcHg[/youtube] Will the outcome be the same as in 1976? Could gold rise 8 fold from where we are today? Anything is possible.
It cannot stay down forever..... eventually it will rise up again.....when and how much is the question? I think the safest bet will be to have 'at least' 10oz's kept safe somewhere......especially at the current low prices....even if it drops to 1000 next year you are still in the game.....eventually.....Then its just a matter of sitting and waiting for prices to return up again. It really all depends on what happens to the U.S in the next few years and wether central banks keep buying Gold or not.....At the moment we need to wait until September to see what happens with the debt ceilings....after that, watch for interest rates rising and inflation to creep in.
Announcement of either tapering or ending QE3 in September will open the flood gates on this......Only one month to go....SOOOOOO excited!!!!!!!!!!!!!!
We all know they won't/can't raise interest rates, and they certinally won't stop QE, they'll just keep calling it something else.
O.k so QE4 eva then, wondering how long they can do this for then....Five years....10 years or even 20years????
Im not, I have NO pms at the moment....handed it all back three months ago cos I was broke.....still am lol!
It could go to 8,000 $ or higher, if this repeats. We'd have to investigate: what made it skyrocket back then. Right now it's already very expensive, so I don't know what could give it such a strong impulse.
It will go sideways at least until September when we find out whats really going to happen with QE3.....From then on....who knows!!!!!!!!!!!!!
benny boy's going to grow some or staus quo it... my money is on status quo as can kicking is a national sport in USA
Why would you say it is expensive at close to the cost of production? The strong impulse will be a squeeze in the physical market. Perplexed by your post! Am I missing something?
The other day I wrote an article about gold being close to production costs and this mere fact might signal the next bottom. Of course, this creates an impulse for an increase. But it could drop lower... I think 1,300 $ is a lot of money, especially for stackers. It could go higher, but I think we might not see the same bull market we've seen during the past decade. Otherwise said: of course, we're close to production costs and it can skyrocket, even go very high, but 800 % sounds very high. Ordinary people are finding it "expensive" for their pockets. Let's not forget that we already had a long bull market. Gold was in the 200's and 300's before it went up to 1,900 $. 1,200 $ is still high. If they trim QE, it will go lower. There are many factors, so it remains to be seen.
Duh I dunno your right I wasted all dat great fiat money as did you and now you have opened my eyes to the error of my ways lmao :lol: But on a more serious note many things you buy just sit there until you use them, like an ab roller or push bike or whatever but when you buy the item you buy it at market value which more often than not is well over the COP.
I think this is a pretty accurate graph..... Gold will rise again until Septembers announcements then it will dip again.... THEN it will bottom out and start to rise properly and steadily over the next few years.
There are signs now (according to what Bernanke said) that QE will continue! Some are even talking about increasing the monthly amount... So, I guess there is a lot of potential for it to go high. September is key, I will start a thread about it! German elections are held then. The fate of the euro might be decided afterwards.
