Peter schiff just gave his 2 year prediction for gold. If $5,000 gold happens, that means silver will have to be $80+ [youtube]http://www.youtube.com/watch?v=yhREH6h56VY[/youtube] Full article here: http://finance.yahoo.com/news/think-golds-pricey-wait-until-203639532.html
he said much the same thing in December 2009, but he said as many as two to five years. Time is running out for it to hit 5000!!!
gold is doing pretty well, we could see $2,000+ by the end of the year... orr a massive sell off. Anything is possible!
If gold gets to $5000.00 in the next two years none of us will want to live through the events that cause it to get there.
Is something going to happen to make central banks and central planners disappear within the next year or two? okay, well then i reckon Schiff's prediction is a sure thing! so far people seem to be blissfully happy with them screwing up every economy in the west, so why would another two years of the same be such a shocker?? :lol: ppllleazzzzzzzzzze .... the dumb sh1ts - err i mean electorate - will keep voting for "free" stuff - and so that is what they'll continue getting. SAVVVIE??? :lol: PS - nice one Boss - had a good giggle
It can go to 10,000 $ as well... but it all depends whether hyperinflation happens or not. If the dollar crashes during a hyperinflationary scenario, than 5,000 $ is too little. I don't see why no-one is taking account of this... There were countries (including Russia) that had hyperinflation rates of 800 % If that happens in the US, gold might as well cost 20,000 $ or more per ounce! I see two factors to this price (two main factors among dozens of others): -the price of gold going up as a result of investments into gold due to the current economic crises -the devaluation of the dollar (which might create the illusion of gold becoming more expensive) I think there is a mix of rather both! Which one is more pronounced?
Well... all the central banks are in a race to the bottom with their currency war so it wouldn't surprise me if it takes more fiat currency to buy gold in 12 months than it does now... I can't personally see $5000 though... I think gold will go higher but not by that much unless we really do see a global currency crisis, but then gold will go much higher than $5000. I'm betting against fiat either way.
Comes back to the same problem that has plagued all price point and time frame predictions made by industry commentators actually. They base assumptions either on past events or on current trends, but don't have the capacity to shape what lies ahead. Price point and time frame estimations can't be made on anything but rational analysis of market trends and history and when it comes to PMs, we have 100% market manipulation 24/7 The only really valid prediction on PMs that you can practically make is that it'll track currency manipulation long term but even then, with the way the paper PM markets are grossly manipulated that's no guarantee either. It's actually a real problem with intelligent analysis and educated predictions are undermined by events & markets which defy common logic & rationale, then the people who make said predictions are cast out as fake prophets. I really like Peter Schiff and I think he's on the right track, but I also think he's taking a real gamble making a claim in a controlled market on price points.
I think an Oz of gold will cost an Oz of gold next year, the gsr is a good appreciation tool but fiat is not.
The question is: what happens right after gold reaches the highs... The bubble pops! That's when everyone will be running around selling their gold and no-one will want to buy! Everyone will want to sell! Holding it for too long will be just as bad as not investing at all!
Don't worry about the price of gold and when to sell. Your time frame is commensurate with the US debt! When all the quantitive easing has eroded away peoples assets, what will be left? Simple really! The US will have an even bigger debt, increasing inflation a devalued dollar. Is gold in a bubble? No way! We are looking at a European debt crisis and a huge US debt crisis. Europe is the pre-match, the US is the main event.
