Gold Price - Where is it heading?

[explod]

Nope. The Greeks, Irish etc had worse debt situation than the USA. But if you are talking about Europe as a whole bloc then you are correct

The US unfunded liabilites are $114.500,000,000,000 (yes trillions) and dwarfs anything ever before in financial history.

usdebt.kleptocracy.us/Cached

 

[explod]

Sorry, the above link does not work and just about blows my computer when I open it,

which one wonders about. I'll try for another

try this one

http://silvergoldsilver.blogspot.com/2011/07/from-100-to-114-trillion-us-dollars-of.html

 

[young-gun]

The US unfunded liabilites are $114.500,000,000,000 (yes trillions) and dwarfs anything ever before in financial history.

usdebt.kleptocracy.us/Cached

alot of people either forget, or arent aware as to just how much debt the states are in. it is probably well above the number explod quoted, once you take into account private sector financial sector government and as plod noted unfunded liabilites(they can kiss any form of pension goodbye). the US forecasts for tax revenue are overly ambitious to say the least. they are in HUGE trouble, QE has played its part, but will only carry them so much further.

however i do agree with notting, i believe gold has the potential to deflate if the US starts writing down debt and destroying dollars, as opposed to QE. in which case the US dollar will become a safe haven as its worth will sky rocket. harry dent runs over this in his most recent book. only problem is his forecasts are based on believing the fed will actually let them deflate,he doesnt allow for qe3, in fact he didnt think they would have gone as far as they have.(yeah i know he can be a bit of a tool, but hes a smart guy and there is definitely alot to be said for some of his research)

anyway, time to travel around the country side to see friends n fam...merry christmas all!

 

[adamim1]

I find that the best way to be in tune with something on the markets is when you have almost no interest in it but are reminded regularly of where it is at.

If gold is no longer the safe haven and the US dollar is then both those things spell lower gold prices if the environment is going to remain tumultuous. Even the Chinese are turning again to the US dollar for a safe haven, they have been strong on gold up till now.

I reckon gold will find 1350 and rotate between that and 1600 for a while.

If the Fed looks like printing again then I would change my opinion. I have not thought the Fed was going for QE3 ever.
If that changed then it would be at least 1 year away which give plenty of time for gold to deflate! I guess that's a medium term view.
Longer term some much smarter people than me expect it to be higher.

If the ECB starts printing then we will see gold go much higher and we will see the dollar then drop as money flows out of the 'safe haven' and back into the other sectors.

Its like a sinking ship, you can change decks all you want, but your still on a sinking ship. The real life boat here should be gold. Once all the focus (if it ever does) changes from Europe back to the US, then we probably won't see the US dollar as a safe haven.. especially if the fed starts printing.

 

[notting]

The point is medium term!
These debts have been carried for a long time will wiill continue to be.
Europ has been the flash point for the last year and the ECB lending has eased that now.
There is alot of debt to be refinanced in Euroland this year which should keep a lid on the Euro.
It gives strength to the US$ and weekness to Gold for the medium term.

 

[DB008]

Gold at $20,000 an ounce.....well, some people seem to think so.

Here is a video from Mike Maloney.
He helped with input to one of Robert Kiyosaki's books.

 

[Whiskers]

Gold at $20,000 an ounce.....well, some people seem to think so.

Here is a video from Mike Maloney.
He helped with input to one of Robert Kiyosaki's books.

On the one hand he's pointing out how the money backing system has changed over time away from gold and concedes that any new system won't necessarily be backed by gold... and then at the end seems to be arguing that gold has to rise to these extraordinary levels to equate dollar value to about 100 years ago.

Another error in his reasoning is comparing the increased value of physical gold against the Dow over the last 100 yrs. I didn't see and allowance for dividends and bonus share issues etc for Dow stocks. That would paint quite a different picture.

At the end of the day, why does currency have to be backed by gold!

The current system would have worked, um blew-up less spectacularly if credit rules had been better handled.

It will no doubt get to $20,000 one day, but I still think it's going back closer to 1,200 before it goes higher.

 

[Starcraftmazter]

At the end of the day, why does currency have to be backed by gold!

As opposed to what?

The current system would have worked, um blew-up less spectacularly if credit rules had been better handled.

No point playing what-ifs stating scenarios which will never happen. Fiat currency is designed with one purpose in mind - to be manipulated to breaking point by the elites.

 

[aclassic]

I was wondering re your earlier words Starcraftmazter;
"Long story short, a rally in gold is coming soon."
if you could define "soon" and would you hazard a guess as to how low it is is likely to go before that rally.
cheers.

 

[Starcraftmazter]

I would guess "somewhere in the range of 1500-1600", but it's not really supported by much other than technical support levels.

 

[aclassic]

Thanks, and how about that definition of "soon" he he?

 

[Starcraftmazter]

Thanks, and how about that definition of "soon" he he?

Sorry buddy, that would be pure speculation. Soon is simply based upon the fact that all reasons for gold to rise to $1900 are still here now, and the reason why it dropped to current lows is going away.

It will happen next year, there is no doubt.

 

[aclassic]

Sorry buddy, that would be pure speculation. Soon is simply based upon the fact that all reasons for gold to rise to $1900 are still here now, and the reason why it dropped to current lows is going away.

It will happen next year, there is no doubt.

That's rough enough for me, and thank-you for explanatory note Starcraftmazter.
cheers

 

[Chalea]

Bearish Head & Shoulders Reversal forming?
Target = $1530 approx.View attachment 44212

$1532.45 is close enough...will retest it soon!

Two patterns recently broke out to the downside. Expect both targets to be hit.

1)Weekly bearish flag broken.

Measured target = $1380.03

2)Weekly bearish head and shoulders broken.

Measured target = $1256.16

Click chart

 

[Chalea]

1)Weekly bearish flag broken.
Measured target = $1380.03
2)Weekly bearish head and shoulders broken.
Measured target = $1256.16
View attachment 45673

May be more accurate if the chart's scale was right...

Flag target = $1330

Head and shoulders target = $1185

Click chart

 

[joea]

Hi.
Gold direction by Elliott Wave below

http://www.readtheticker.com/Pages/Blog1.aspx?65tf=434_2012-the-year-of-the-mighty-us-dollar-2011-12

joea

 

[Edwood]

some interesting general facts re gold

http://www.numbersleuth.org/worlds-gold/

 

[Tint]

Gold Analysis

Spot gold prices rallied again on Thursday hitting fresh 4 week highs of $1662.15 in the NY session, as the EUR/USD picked up following an overdue relief rally on the back of some well received Spanish and Italian auctions in the European session. The move was assisted by the pick up in the morning of crude oil prices amid continued M/E tensions and threats of a strike by Nigerian oil unions. The metal however lost it's shine in the afternoon slipping back to $1644 as crude prices plummeted on news that the EU embargo on Iran's oil would be delayed for up to 6 months, prompting sharp sell-offs in Nymex and Brent crude of about $4. The metal staged a small recovery into the close at $1650 but came under renewed pressure in Asia this morning to $1635.15 before picking up again to $1647.70. Today's support is seen at $1630.30 and $1608.70 with resistance up at $1662.15 and $1678.25.

 

[Logique]

Vexing, the 2011 under-performance of gold stocks vs the price of gold. But these authors are confident this will eventually unwind. Bring it on.

Oversold Gold Stocks Offer Plenty Of Scope For Gains
By Adam Hamilton & Scott Wright | 09.01.2012
http://www.thebull.com.au/articles/a/25316-oversold-gold-stocks-offer-plenty-of-scope-for-gains.html

"But so long as gold’s bull remains intact and its fundamentals compelling, this gold stock fear will prove totally unjustified.."

 

[rybka]

If money is effectively just being printed "QE"etc...etc... that realistically means that the value of gold, commodities and anything "TANGIBLE" will continue to rise.

The worlds elite in my opinion stopped money being backed by gold....this way anything can be manipulated.

Point is gold will always end up going up, so if you invest and sit on it for a while you shouldn't loose "(or too much) "money as money always devalues in time (printing etc...(inflation) ), in short term if we read graphy it may fall (I hope it does), because 'during these uncertain times without delving into conspiracy theories...may be the only thing worth anything in future.... Unless of course a new "World"currency becomes the norm