Credit Suisse spoke of 1,000 $ gold about 1.5 years ago

[TreasureHunter]

I can still recall the article - which at that time sounded shocking and came right after the April gold crash.

It sounded something like "gold to hit 5,000 $ in 5 years". That was in 2013. The question is: what if it hits 1,000 $ much sooner? Will it bounce upward or will it go sideways or continue to fall...

http://www.primevalues.org/market-watch/credit-suisse-gold-below-1000-5-years.htm
http://www.businessweek.com/news/20...-to-1-100-an-ounce-in-a-year-by-credit-suisse

 

[SpacePete]

They also created an infographic.

If the one below is too small, here's the original: http://www.thefinancialist.com/gold-at-1000/

 

[SpacePete]

Coming true?!

 

[TreasureHunter]

I expect it to fall below 1,000 $, even.

 

[JB3]

Look forward to it.

I'm in my accumulation phase, so falling prices is a good thing. Only comes with mild regret that I started a year ago. But I can, to a degree, keep 'doubling down' as the price falls.

Pound-cost averaging!

 

[Pirocco]

That "central banks have not bought more gold in response to falling prices" is a joke.
They do the opposite: when people sell, they sell too, just like when people buy, they buy too.
For the obvious reason: inflict less fiat, and less ounces.

I'm keeping an eye on central banks activity, and these are the figures I collected:
Net Government Sales (positive means it's [SUPPLY], negative means it's [DEMAND])
1997 326
1998 363
1999 477
2000 479
2001 520
2002 547
2003 620
2004 479
2005 663
2006 365
2007 484
2008 235 +5558 = 463.167/year
2009 34
2010 -77
2011 -455
2012 -544.1
2013 -368.6 > -409.3 (changed 2014Q1 report versus Q2 report)
2014Q12 -242.1

This topic references a past situation.
Well, look at what happened after 2013 figures release: they revised it from 368.6 to 409.3.
That means that they bought 40.7 tonnes more gold than previously reported.
Why would the opposite not occur too? That they sell 40 tonnes and it gets only reported another year later?
Look at the revision rate of the figures released by the US State club, it's sometimes plain ridiculous, macro (whole market) economical figure changes being revised with multiplicated (+100%) corrections.
So it can be quite dangerous/wrong, to stick time frames on statements / claims.
Of course central banks want golds price to drop to zero. They'll return to net selling when they notice gold (and silver too otherwise they won't) stackers start to sell disappointed, as to materialize their losses even bigger. Should have sticked to our dollars suckers!
If silver price stays here next week, a next chunk silver will join the stack.
And so on.

 

[JulieW]

I thought Russia and China were buying all they can manage.

 

[House]

I thought Russia and China were buying all they can manage.

They certainly seem to be. It's possible that China has amassed 10,000t of the stuff!!!111 http://www.silverdoctors.com/how-china-bought-10000-tons-of-gold/









:lol:






But nobody really knows...