Gold and silver delever coming again

[Johnnybags]

the sales will begin soon thru the year end as anything to raise dollars is sold. Its temporary but will be painful. I predict 5.50 silver and 600 gold before the years end.

 

[tmosley]

Sweet!

I'm hoping for a nice bonus this year, so I may be able to buy big at the bottom.

 

[The Grinning Maniac]

Ditto. I know what I'll be doing with part of my Christmas money...

 

[Smiley Gladhands]

I was surprised to see gold's strength the past couple days in the face of the selloff in the equity markets. If I didn't know any better I might say that gold is decoupling.

But I tend to think the PPT has just been preoccupied with other issues.

http://stockcharts.com/h-sc/ui?s=GLD:SPY&p=D&b=5&g=0&id=p41792889037

 

[voytechs]

the sales will begin soon thru the year end as anything to raise dollars is sold. Its temporary but will be painful. I predict 5.50 silver and 600 gold before the years end.

This is just your own speculation though right or do you have any data?

 

[TruthisTreason]

I don't think we're going below 650 anytime soon, but I hope we do.

 

[Josh_LA]

the sales will begin soon thru the year end as anything to raise dollars is sold. Its temporary but will be painful. I predict 5.50 silver and 600 gold before the years end.

how much you wanna bet?

 

[jonahtrainer]

how much you wanna bet?

That is my question also. Terms: spot gold will hit $600 USD between now and Dec 31, 2008. I will pay up to $10,000USD if it triggers (spot gold hits $600); the counter-party pays up to $10,000 if it does not (spot gold does not hit $600).

Everyone has opinions but when money is at stake you get to see what people really think so let's put some money where the mouth is Johnnybags. How much do you want to put at risk? $100, $1,000, $5,000, $10,000?

 

[rapidtrends]

That is my question also. Terms: spot gold will hit $600 USD between now and Dec 31, 2008. I will pay up to $10,000USD if it triggers (spot gold hits $600); the counter-party pays up to $10,000 if it does not (spot gold does not hit $600).

Everyone has opinions but when money is at stake you get to see what people really think so let's put some money where the mouth is Johnnybags. How much do you want to put at risk? $100, $1,000, $5,000, $10,000?

lol

Seperates the men from the boys

Love it

 

[lodge939]

If gold goes to $600...does the dollar become 1:1 with the euro?

 

[XxNeXuSxX]

If gold goes to $600...does the dollar become 1:1 with the euro?

At this rate it may even surpass it.

However, Schiff claims that will all be temporary, correct? then we better buy the HELL out of bullion at that point in time.

 

[sevin]

Once I see gold in the 600's, I'm calling my gold coin dealer and placing a large order.

 

[Arklatex]

The absolute bottom is $400 because that's how much it costs to get it out of the ground.

 

[lodge939]

it will never go to $600 on ebay though

 

[Lord Xar]

to the OP, why do you say this? I am concerned as I bought some gold at 900+ when it was all the rave. Though I don't intend to do anything with it for a long while, I am not overly concerned, but I want to get some silver -- its at close to $9 now. Lowest I seen since checking regularly.

Why do you think gold will go below $650?

 

[Smiley Gladhands]

Three Cheers for Gold!

Personally, I think gold had some GREAT action today.

http://stockcharts.com/h-sc/ui?s=GLD:SPY&p=D&b=5&g=0&id=p41792889037

This chart is basically the gold ETF price relative to the S&P. Gold outperformed today in a BIG way as the equity markets were tanking. I tend to think that the rumors of China and Russia adding to their gold reserves is the fundamental reason for gold's outperformance. Whether such mega purchases happen, and whether that affects comex's ability to deliver gold remains to be seen.

But the positive for gold holders today is that gold held support while very little else did. Gold finished positive when very little else did. So yes, it's possible that further deleveraging will hit gold, but gold's fundamentals may be starting to overcome the delevering factor as world central banks consider how the dollar's status as sole world reserve currency may be changing.

That said, I'm not at all willing to bet that it won't hit 600....I've got enough riding on gold as it is......and its moves have surprised me more often than not.

 

[enjerth]

This sounds good on paper. The problem is that's the only place it's good.

Have you been to a coin store recently? I bought some REAL silver last week and the dealer told me that the spot price doesn't mean shit. He's buying silver at $11.25 and he can't sell it at the market price, because the market price is not on REAL silver. The demand in the real world is driving the real price up.

If you want gold and silver, don't wait for the market price to go down more, because that's just an illusion. Buy it now.

 

[entropy]

Deflation takes everything with it. Gold is no exception. When it does go below $650 and maybe $600, that is when I will buy.

 

[XxNeXuSxX]

Those 1 ounce gold bard on kitco are looking like a STEAL if I've ever seen one. Or how about that 1000oz bar of silver for $9300. I'm tempted to throw my cash at it.

 

[the count]

au contraire watson, gold is holding up

during the last few terribe market down days gold has been holding up nicely. even as the dollar stays strong... very good sign!