Why Gold Will Reach a Record $2,000 in 2010....
'With the U.S. dollar in a freefall and global gold demand rising, analysts say the precious metal will likely continue its bullish trend through at least the first half of 2010. It could rise as high as $2,000 an ounce, which would represent a 73% gain from current record levels....
...“You have to consider the amount of money sloshing around the world right now – China’s $2.2 trillion in reserves, India’s $285 billion in reserves, all of the money in central banks throughout the Middle East,” said Martin Hutchinson, a contributing editor for Money Morning and a veteran banker with more than two decades experience in the international marketplace. “If all of the serious money charges into gold and gold really gets going, you’ll see a tremendous spike in prices.”
Concludes Hutchinson: “I believe the price of gold will hit $2,000 an ounce next year [2010].”......
...Timothy Green, the author of “The Ages of Gold,” described India’s purchase [of physical gold] to Bloomberg News as “the biggest single central-bank purchase that we know about for at least 30 years in such a short period.” “The only comparable event was the U.S.’s steady purchases in the 1930s and 1940s,” he said....
...“Everyone who says that gold will hit $2,000 in five years is wrong,” said Money Morning’s Hutchinson. “It will be back down in 5 years. If it’s going to $2,000 it wil get there next year [ie in 2010]...”'
GOLD - 13
as predicted before, gold hits the target of HEAD & SHOULDERS (around $12300)
https://www.aussiestockforums.com/forums/showpost.php?p=551437&postcount=7596
Explode how many more time does it have to be rammed down the gold bugs dumb brains that futures contract traded NEVER = physical in ANY market.
DUMB DUMB DUMB.
?
FFS!!!!!!!
The Emirates Palace hotel has set up a gold-dispensing machine, which monitors the daily gold price and offers small bars to its Abu Dhabi customers.
The machine is the first international foray for German entrepreneur Thomas Geissler's 'Gold to Go' brand.
Geissler, who started testing the cash-for-gold machines in Germany in 2009, says he chose Abu Dhabi due to the traditional and major role that gold plays in the region's business.
The ATM, unveiled on Wednesday, offers up to 10 grams or coins with customized designs, AP reported.
Momentum has certainly stalled for the time being. Distribution top or consolidation on a continued uptrend? Who knows. The dilemma.
• Gold bullion or the equities? We feel investors should have the
ability to participate in both markets. When gold is performing well,
the gold equities offer leverage. Today while the gold price moved up by
2.4%, the gold equity index (HUI) appreciated by 6%. However, if gold
is simply moving sideways, the gold equities can lag the metal.
Additionally, if gold (or any commodity) is perceived to be spiking
higher, it’s quite likely that the equities will lag the commodity price.
With the 1979/80 spike to $800/oz being in excess of $2,000/oz in
today’s dollars, we feel we have some time before this becomes an issue.
Thanks for the links ,explod.Good info.
Somewhat off topic ,but,they mention silver in the article so...what do they mean by "high beta"?
"We continue to see silver as “high beta” gold. Silver itself was up
4.4%, and our favorite silver equity, Silver Wheaton, was 8.1% higher on
the day"
Cheers.
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