Gold to $1250-1400 range

[Zomby]

Just read an article from a link off Kitco News called "Fed kills gold trade, but doesn't bury it", http://www.thestreet.com/story/1148...-trade-but-doesnt-bury-it.html?cm_ven=GOOGLENquoting a senior metals analyst from Kitco, Jon Nadler stating,

"If and when it falls to the $1250 to $1400 range, we can say the peak was solidly in and we will be going into some other market than this different species of bull market for gold we've seen," Nadler said.

Just interested to hear others view on this article and what is said about gold hitting those levels?

 

[Aengrod]

Obama has to be reelected; will be hard without new dose of QE. Nuff said.

 

[Zomby]

Interestingly, Silver T Rader commented on the article underneath as follows

The crime in progress is High-Frequency-Trading of paperwith the CFTC and CME observing and doing nothing. Endless number of foreign financial firms (even HBSC Orient) are advising clients that GLD and SLV are rigged. Forget auditing Ft. Knox, Audit GLD and SLV. Are they the next MF Global?
The coordinated effort should be investigated like any other commodity. But, themajor players are "too big to nail". It is a shame that the US markets were built on fair play and trust.Now, with private trading houses,a total lack of transparancy, and recgonized contracts with no physical backing; the US markets arepromoting alternatives to the US marketplace.
Rest assured, as new investors panic and sellthe central banks are accumulating at what appears to be a record pace.The wealthy run this game and profit from this type of fabricated news that was coordinated with computer trading. If this market is rigged, then all of Wall Street must be the same?

 

[Ozi]

Just read an article from a link off Kitco News called "Fed kills gold trade, but doesn't bury it", http://www.thestreet.com/story/1148...-trade-but-doesnt-bury-it.html?cm_ven=GOOGLENquoting a senior metals analyst from Kitco, Jon Nadler stating,

"If and when it falls to the $1250 to $1400 range, we can say the peak was solidly in and we will be going into some other market than this different species of bull market for gold we've seen," Nadler said.

Just interested to hear others view on this article and what is said about gold hitting those levels?

I'm waiting......

 

[goldpelican]

Nadler is a renowned permabear.

 

[JulieW]

My bottom line is that the POG is fixed and a paper market. If you can buy physical at the low prices put in by the paper traders then how lucky are we?

Personally I think that without the paper market in gold we'd be looking at a gold price somewhere north of $5k an ounce. The fact of market manipulation to try and make their currency games look valid is to our advantage, but the price of a physical ounce placed in your hand is all that matters. No matter what, it will always be worth at the very minimum a commodity trade (versus a currency trade).

If it gets near 1200 just try and buy every skerrick of gold you can find.

 

[Peter]

I'm always getting confused by so much information,so I look at the broad picture.
Major markets and currencies will crash in a large economic downturn and then,in a flight to safety,gold will rise in price.
For all the information out there ,I just can't doubt this.
Things have gotten too bad.

 

[BBQ]

http://kingworldnews.com/kingworldn..._Feds_Global_War_Against_Gold_Escalating.html

It's a question of who you believe.

 

[RomanControl]

I believe Mike Maloney, have his photo in my wallet

Did you know the traditional silver/gold ratio is 16 to 1?
Therefore the true value of gold today is $480 an ounce

 

[Aureus]

The chances of gold falling that amount this year are miniscule.
QE3 is going to happen, it's a given, so I'm not worried. I don't think there is any great risk in buying up now, should do ok toward the end of the year.

 

[frogman]

There is an investment show out of Vancouver called Money Talks.
One of the regular guests owns Border Gold which is a big dealer in Vancouver.
He is talking about 1350 as a possibility if we see further weakening.
Great opportunity to buy more.

 

[Dogmatix]

I believe Mike Maloney, have his photo in my wallet

Did you know the traditional silver/gold ratio is 16 to 1?
Therefore the true value of gold today is $480 an ounce

Such a sh*t stirrer, but in a good way

 

[Nugget]

Gold @ $480 an ounce I'll borrow all that I can and stack to the moon. If gold never recovers in my lifetime my nieces will benefit in theirs

 

[Lunardragon]

^
+100

 

[DanDee]

I believe Roman Control, have his photo in my wallet

Did you know the traditional silver/gold ratio is 16 to 1?
Therefore the true value of silver today is $100 an ounce