Barclays: Gold to hit $1500 per ounce by may

[WallStWhizKid]

Another gold prediction:



http://www.cnbc.com/id/33204585/site/14081545
The price of gold will continue to rise and outperform stock markets and could go as high at $2,000, depending on the strength of the S&P 500 index, according to Chris Locke, managing director at Oystertrade.com Management.

Gold has already passed the $1,000 level, and “the next point should be pretty quickly to $1250-$1300,” Locke told CNBC Wednesday. He said “no matter what happens to stocks and stock industries gold will outperform.”


Makes sense to me. The $1,000 break was a huge momentum swing. Don't fight the trend. Short term gold has an easy 25% upside.

 

[trefoil]

No, I just like trading it because it has good volatility. Well, usually: this summer was a bummer. I go long and short. Actually I use GDX, but of course it's all based on gold. Like I said, long for now, biting my nails, but today's price action was nice.

 

[Ivanovich]

Quote from WallStWhizKid:

Another gold prediction:



http://www.cnbc.com/id/33204585/site/14081545
The price of gold will continue to rise and outperform stock markets and could go as high at $2,000, depending on the strength of the S&P 500 index, according to Chris Locke, managing director at Oystertrade.com Management.

Gold has already passed the $1,000 level, and “the next point should be pretty quickly to $1250-$1300,” Locke told CNBC Wednesday. He said “no matter what happens to stocks and stock industries gold will outperform.”


Makes sense to me. The $1,000 break was a huge momentum swing. Don't fight the trend. Short term gold has an easy 25% upside.

Oh, I don't plan to fight the trend. But quoting CNBC is rather amusing

 

[trefoil]

That last one by me was directed to Ivanovich of course.

 

[scriabinop23]

Quote from makloda:

Log Chart of Dow TOTAL RETURN (dividends reinvested) priced in Gold ounces. How come the gold bugs never consider dividends? Is it because Gold doesn't pay any?

Buy some gold stocks then. Problem solved.

 

[TraderZones]

Quote from WallStWhizKid:

Don't fight the trend. Short term gold has an easy 25% upside.

Any time someone says this, they haven't a clue.

 

[S2007S]

tomorrow 1050, breaks 1100 by end of October then we will start seeing $30-$50 one day moves, going to get really volatile soon.

 

[cleveland45]

Quote from S2007S:

tomorrow 1050, breaks 1100 by end of October then we will start seeing $30-$50 one day moves, going to get really volatile soon.

better stay clear of futures trading then, I hate to see it get that volatile, but it well could do it.

 

[Debaser82]

I've looked at the ownership of about 20 to 30 (gold) mines and the one bank featuring the most amongst its peers is Barclays so it could very well be that they are talking their book.

They did got slaughtered in their precious metals holdings in 08.

 

[ASusilovic]

Quote from makloda:

The inflation bulls fail to see that the CRB spot measured in gold ounces has been steadily descending over the last 10 years, in a waterwall like fashion. If Gold was predicting hyperinflation, then why are commodities not equally participating?

In 1998 the CRB basket of commodities cost 1.0 ounces of gold. Now it costs 0.35 ounces. From 1973 to 1980 the ratio collapsed from over 2 ounces to 0.4 ounces.

The price of Gold isn't predicting anything material other than buyer's willingness to bid up the price.

The buyers are simply hedgies working on their selfulfilling prophecy gold story. Let them just buy. At the culmination point these guys will trigger the fat finger button...