Gold above 1200$ an ounce in 2009?

Will gold be higher than 1200$ an ounce in 2009?

  • YES!

    Votes: 97 51.9%

  • NO!

    Votes: 90 48.1%
  • Total voters
    187
Quote from increasenow:

Gold is so overbought...get your 1 year and 3 month charts out...Gold will not hit $1,000.00 again...great sell/short opps await for Gold traders..imo...
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Yeah, that Gold bubble is OUT OF CONTROL.

I mean, year-on-year it's up and incredible 2.75%.

2.75% a year - how can a market rise so much. Gold bulls must surely own the world :)

Could it go 5% up, or heaven forbid 10%?

Surely the odds on that would be about 10million-1 against.

These bubbles just get crazier and crazier.
 
Seems to me gold could go up to 1200$ if say the DOW moves above 10000.

If the markets tank I have a hard time seeing gold not falling as well if not gold itself then certainly the miners.

The fall will tell indeed.
 
Quote from peilthetraveler:

I think a good chance we will go over 1200 per oz in the next few months.
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Yes but with all due respect that judgement might have something to do with you being long precious metals yourself as you have stated several times on ET before.

I'm in the same boat but I have learned to be sceptical about the 'going to the moon' predictions and basically have no idea if gold is going to 600$ an ounce by november or 1200$ an ounce but I remain bullish longer term obviously otherwise I wouldnt be in gold at all.
 
I don't think so. Not until those cash for gold places are going out of business because there is nobody left willing to give it away cheap.

Did you know that the US exported almost 4 times as much gold last year as we produced? We produced somewhere around 200 tons (32,000 oz/ton), but we exported out almost 600 tons. That started about 3 years ago and has been increasing each year. It must either be coming from the cash fo gold outfits, or our government has been selling what they have, I figure. Either way, it can't continue increasing like that for too long. Figure another couple years max the way these bozos are borrowing and spending us into the ground...

THEN you'll see your 1200, and much more is my guess.
 
Quote from thriftybob:

I don't think so. Not until those cash for gold places are going out of business because there is nobody left willing to give it away cheap.

Did you know that the US exported almost 4 times as much gold last year as we produced? We produced somewhere around 200 tons (32,000 oz/ton), but we exported out almost 600 tons. That started about 3 years ago and has been increasing each year. It must either be coming from the cash fo gold outfits, or our government has been selling what they have, I figure. Either way, it can't continue increasing like that for too long. Figure another couple years max the way these bozos are borrowing and spending us into the ground...

THEN you'll see your 1200, and much more is my guess.
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Maybe you figured somebody invented a cheaper way to mine or synthesize gold ? You figure you will need to control the supply too or the price is going no where... if there is only an OPEC for gold...
 
IMO 5-yr chart sez IF we start uptrending NOW - moving further away from that dangerous 900.0 zone - we'll go to 1350 to 1400 in 6-12 mos.

If we linger too long around 900.0 we probably start downtrending until the ETF's pack it in.
 
Quote from Klamath:

The thing that worries me is it almost seems too obvious...
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Exactly. Deflation is still rampant. You cannot sustain an inflationary environment with a weak economy and high unemployment.
 
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