My pick $1398
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My pick $1398
When "normal people" get in something professionals will get out.
Next 12 to 24 months USD is up. Gold will go down to $600 level. Gold is a commodity like any other commodities and yields zero return. There are a lot of assets out there that can offer and will offer higher yield. Gold has no industrial value whatsoever except for the jewelry Indian market. Gold went up due to pure speculation cash moving from one asset to another on a global scale. Gold isn't an investment it's a pure speculative move. Most gold buyers jumped blindly on gold speculating on "upcoming hyper- inflation. We should not forget that even in the 600s gold will still be 50% higher than in 2004. For mid and long term players it is time to go behind out of favour boring commodities. These types of commodities will have demand in all types of situations. Can anybody postpone eating and drinking in inflationary or non- inflationary environment? Even during war people cannot wait without eating and drinking. They cannot eat gold and silver. What about two children policy in China? One thing I like to mention here. There will be great demand for Australian and New Zealand meat from China in the coming decade. As a commodity meat will shine in the coming decade. Even for kangaroo meat there will have great demand from China.
My ideas are not a recommendation to either buy or sell any security,commodity or currency. Please do your own research prior to making any investment decisions.
Hi Marketwinner, your post is wrong on so many levels. Not in regards your price prediction as that is anyone's guess & each have their own view. You are right you can't eat gold & silver (well unless you are in some very fancy French restaurant!) go figure. Yet gold has been a fascination of man for thousands of years & the Chinese love the stuff. Not saying meat won't do well, like the movie Trading Places, by all means go long pork bellies! Where your argument quickly goes off the rails is you say gold is a commodity like all other commodities., when clearly its not. Central Banks don't hold massive amounts of gold because they want to ensure there is enough supply for the jewelry market & electronics for the next millennium. Nor do the super wealthy! Kerry Packer was rumored to have gold bars in his office & a gun! If gold was just another commodity why is the majority of it stored in vaults. Your argument is overly simplistic. Perhaps you are right re the price, although I certainly don't agree, but it wont be because of the argument you have given.
1460
The rest is just rubbish as computer requirements of so many characters.
Alright, count me in on this crystal ball gazing....
Consolidation to 1,420USD late October but down to 1,370USD by year-end.
Let me dissect this argument.
"a fascination of man for thousands of years". Goldbugs maybe, and it was used for transactions hundreds of years ago but not now.
"Chinese love the stuff". Only because they've just been allowed to purchase it and they're losing billions.
"Central banks don't hold massive amounts of gold". They do, 19% of all the gold on Earth.
"Cenral banks want to ensure there is enough supply for the jewellery market and electronics for the next millenium". Hardly, they couldn't care less, a substitute for gold will soon be found if necessary. Dimwitted central banksters have collectively lost $550 billion.
"why is gold stored in vaults"? A glimpse of the obvious, because it will be stolen if it isn't.
Daytr has been reading too many hard money newsletters. lol
Skol, I read your post as I thought you might be putting a price prediction in. Alas, I should have known better. You may wish to re-read my post because as usual you have taken it out of context. This is what I said. 'Central Banks don't hold massive amounts of gold because they want to ensure there is enough supply for the jewelry market & electronics for the next millennium.' I know its difficult Skol, but maybe actually put some thought into it before you post. What I am saying is that the hold massive amounts of the stuff for a very good reason, such as a reserve or store of wealth or which ever way you want to look at it. They don't hold it because of its commodity value, they hold it because it is considered precious & it is accepted anywhere when the crap hits the fan & your currency is going through the floor.
Daytr,
"""They don't hold it because of its commodity value, they hold it because it is considered precious & it is accepted anywhere when the crap hits the fan & your currency is going through the floor. """
That's not what Ben Bernanke says, he says the US owns it because it's 'traditional'. And the US owns the most. If they're so smart and hold it because of currency fluctuations why are central banksters losing hundreds of billions, like $550 bill? I'll tell you why, because the university-educated central banksters are no smarter than the goldbugs who are losing Schiffloads themselves.
My guess is $955.
My guess is $1170