Clive Maund: gold is about to pop

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  • Sat, Oct 18, 2008 - 05:23pm

    #21
    babylon

    babylon

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    Re: Clive Maund: gold is about to pop

I submit a theory that the price of gold is being manipulated by clever market techniques so as not to create a panic. If the market prices suddenly shoot upwards then people would lose confidence in the dollar making it go in the opposite direction.

perhaps this practice is being maintained as long as possible to try to avoid the inevitable crash.

  • Sat, Nov 01, 2008 - 11:03pm

    #22
    john50

    john50

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    Re: Clive Maund: gold is about to pop

Without disrespect, Clive (and other pundits), have not called gold right at all. The price fell over $200 in October alone, is a fact. It was not a hard call for me to make mid-March that gold topped, and would require a correction down to $600 level before moving higher. Markets are not democratic, collectivist, or any other type of majority is right enterprise; so being alone is part of calling turns.

I think it is unfortunate that Chris tipped his hat on his thinking that gold will be the universal answer, from a timing point of view. He should know that buying commodities during deflation is a way to lose value. I am not saying don’t buy bullion, I am saying don’t buy high. 

Silver likely put in a temporary bottom last week in the first wave of three. Prices are expected to rise to $14 range, then retun to set a new low a few months from now. When de-leveraging has dwindled, silver ought to return to normal values in the $6-8 range for a bottom. Gold is likely to set a bottom in a few weeks, so be patient if you have much to buy. 

The Kitco article was one of the most level headed I have read for a long time, especially coming from a gold seller, they are notoriously like used car salesmen, saying anything to make a gold sale.

Gold Posts Biggest Monthly Drop in 28 Years as Dollar Climbs 
http://www.bloomberg.com/apps/news?pid=20601012&sid=aEllg6XntfgY&refer=commodities

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