Gold going to 5k

neris

Heard either on the radio or a trader on youtube the other day talking about the gold prices and he was saying he,d seen two different analysts on cnbc on gold prices one was saying it would hit $2500 by year end and another saying it could go to $5000. 5k seems a bit excessive and would surely require a major econonomic disaster bigger then a greek default to more then double in price. Perhaps an american default?

i,lll try find out if I heard it on youtube and post the link

foxyboxer

So the boom is getting boomier?

Low Energy Eng

foxyboxer wrote: »

So the boom is getting boomier?

Or the bust is getting bustier

MasterSun

Hit 5k in 3months!
Do these 2 analysts know how to count?

neris

MasterSun wrote: »

Hit 5k in 3months!
Do these 2 analysts know how to count?

courtesy of zero hedge below

http://www.zerohedge.com/news/why-invest-gold-when-one-has-safety-dollar-pretty-tv-reporter-explains

i always take analysts with a big bag of salt. goldman sachs predicted oil going to over $200 a barrell a few years ago. I saw a tweet today from mf global today that jp morgan were revising their outlook on brent crude down from $130 a barrell in 2012 to under $100 a barrell. also remember same tweetwe from mf global saying he thought silver would go over $60 at some stage its now at $30 down from a high of $48

irishh_bob

id say thier is more chance of gold hitting $1000 an ounce at year end than $2000 let alone $5000 , gold has sold off big time this past three weeks

FISMA

irishh_bob wrote: »

id say thier is more chance of gold hitting $1000 an ounce at year end than $2000 let alone $5000 , gold has sold off big time this past three weeks

I hope you're not going to take that advice and short gold Irish_Bob. I highly doubt that we're going back to $1000.

Also, Gold has sold off over the last week, the previous two were pretty flat - I disagree with your three week comment. A quick google of GLD over the last month demonstrates this.

You have to watch the news. They cycle between beating up the States and beating up the EU. Right now, they're beating up the EU.

Investors are getting out of the Euro and in to the dollar. Gold really isn't getting weaker, the $ is getting stronger.

This will be short lived - until people remember the trouble the States is having, QE 2.5 and all.

Also, it is coming to the end of the year and quarter. Analysts that have held gold and were beaten up elsewhere need to make their stats look good. Thus, they are dumping Gold, but they'll be back.

I'm topping up on Gold. We're going to $2000. Watch the $1585 level for resistance.

Happy investing.

foxyboxer

http://www.amazon.com/Dow-2008-Different-This-Time/dp/1893958701

Anyone remember this?

irishh_bob

FISMA wrote: »

I hope you're not going to take that advice and short gold Irish_Bob. I highly doubt that we're going back to $1000.

Also, Gold has sold off over the last week, the previous two were pretty flat - I disagree with your three week comment. A quick google of GLD over the last month demonstrates this.

You have to watch the news. They cycle between beating up the States and beating up the EU. Right now, they're beating up the EU.

Investors are getting out of the Euro and in to the dollar. Gold really isn't getting weaker, the $ is getting stronger.

This will be short lived - until people remember the trouble the States is having, QE 2.5 and all.

Also, it is coming to the end of the year and quarter. Analysts that have held gold and were beaten up elsewhere need to make their stats look good. Thus, they are dumping Gold, but they'll be back.

I'm topping up on Gold. We're going to $2000. Watch the $1585 level for resistance.

Happy investing.

post lehmanns , gold took a beating like every other commodity , they say the coming rescession will dwarf 2008 , gold like everything else will be liquidated as people will need money for important things like groceries , if we enter a serious rescession , deflation will become the issue not inflation