Near term gold: goin’ up or down? Gotta crystal ball anyone?

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  • Thu, Nov 12, 2009 - 01:06pm

    #21
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    Re: Near term gold: goin’ up or down? Gotta crystal ball …

[quote=earthwise]what does ROFLMAO by the way?[/quote]

Rolling on the floor, laughing my a$$ off.

  • Thu, Nov 12, 2009 - 01:30pm

    #22
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    Re: Near term gold: goin’ up or down? Gotta crystal ball …

[quote=tx_floods]

[quote=earthwise]what does ROFLMAO by the way?[/quote]

Rolling on the floor, laughing my a$$ off.

  • Thu, Nov 12, 2009 - 03:47pm

    #23
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    Re: Near term gold: goin’ up or down? Gotta crystal ball …

Ladies and Gentlemen, here’s John Nadler!

“An accountant would freak out if he recorded currency as a liability and couldn’t find an equivalent value of assets. He would say that the central bank is a Ponzi scheme. Which of course it is. And it’s just not worth the hassle of trying to explain to accountants that some Ponzi schemes are sustainable, really.”

Its just not worth the hassle of trying to guess why the Kitco analyst is such a cheerleader of shenanigans of the central banks… The best one I have read thinks Kitco has been shorting too much gold as well…

  • Thu, Nov 12, 2009 - 04:10pm

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    Re: Near term gold: goin’ up or down? Gotta crystal ball …

That’s a great question…and I’m really not sure where Gold is headed.  If we have short term deflation, I could see the price going down for awhile.  The thing that scares me the most about Gold right now is that everyone is getting into it.  Usually that is a warning sign to me but who knows.  Also, Goldman Sachs is predicting $1,200 gold by the end of the year.  That kind of concerns me as well.  Groupthink.

 

http://in.reuters.com/article/marketsNewsUS/idINN1030931720091110

  • Fri, Nov 13, 2009 - 12:43am

    #25
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    Re: Near term gold: goin’ up or down? Gotta crystal ball …

 

 A bit of humor..

 

“But the U.S. government has a technology, called a Tungsten refinery, that allows it to produce as many good delivery bars as it wishes at essentially no cost.”

 http://www.marketoracle.co.uk/Article14996.html

tungsten

  • Fri, Nov 13, 2009 - 02:54pm

    #26
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    Re: Near term gold: goin’ up or down? Gotta crystal ball …

C.D., my take is most people are not into gold, not yet anyway.  I don’t own a TV so I don’t know if it’s talked a lot on there.  But nobody in my circles is talking about buying it; they still believe in traditional stocks and bonds etc.; gold is this weird exotic thing they wouldn’t consider; different than when I remember everyone bragging about how muchmore their house had appreciated a few years ago.  I won’t gamble which way gold will go in the near term since I can’t know with significant probability what markets will do.  I look more for gold to be one tool for long term preservation of wealth under a range of adverse scenarios, and it’s value will not go to zero.

  • Fri, Nov 13, 2009 - 04:41pm

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    What do PMs do at EoY (calendar)?

Is there a historical precedent for gold/silver to go up/down at the end of the calendar year?  I know the markets these days are anything but typical, but I was curious as to whether there is any history of PMs moving generally in one direction or the other as the year ends.  Papi’s ready to make a move but wouldn’t want to rush if there was any reasonable expectation of a significant up or down…

Viva — Sager

P.S.  Yes, I just referred to myself as ‘Papi’ in the third person.  I guess talk of precious metals gets me excited.  My apologies to those who might take syntactical offense.  Cool

  • Fri, Nov 13, 2009 - 06:23pm

    #28
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    Re: What do PMs do at EoY (calendar)?

[quote=SagerXX]

Is there a historical precedent for gold/silver to go up/down at the end of the calendar year?  

[/quote]

Yes.  Up, on the average.  Check out the last 10 years.

http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx

  • Fri, Nov 13, 2009 - 06:52pm

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    Re: What do PMs do at EoY (calendar)?

[quote=ao]

[quote=SagerXX]

Is there a historical precedent for gold/silver to go up/down at the end of the calendar year?  

[/quote]

Yes.  Up, on the average.  Check out the last 10 years.

http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx

[/quote]

Sure enough.  Only ’04 & ’06 have slides.  Everything else even or up.  Thanks ao!

  • Fri, Nov 13, 2009 - 11:23pm

    #30
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    Re: Near term gold: goin’ up or down? Gotta crystal ball …

 

Many opinions on bullish gold, this one exhibits what appears to be sound reasoning. I found it very helpful.

http://www.kitco.com/ind/Wiegand/nov122009.html

 

As a sidenote, Jim Rogers and others think silver is undervalued, whereas gold is at record highs. Would this make it prudent to increase the ratio of silver-to-gold holdings? My goals are collapse survival as well as wealth preservation ( I’m not an investor type-this would be the first).

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