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 zboy2854A:

Either is possible, but I'm hoping we get a pullback, because I want to get a better entry point on going extremely long on silver futures.

I don't think there can be any question, given the fundamental factors going on now, precious metals are set to fly. In fact, I believe that they (along with gold mining shares) will be the next bubble, and we'll see their prices quickly go parabolic, just like we did with treasuries, oil, RE, etc.
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I have a pretty substantial part of my assets waiting for that bubble to start the only thing is when do you know it's a bubble and it's time to get out?

Some say wait for DOW and Gold to reach parity but I'm pretty sure I wont have the patience to wait that long.
 
Quote from Debaser82:

I have a pretty substantial part of my assets waiting for that bubble to start the only thing is when do you know it's a bubble and it's time to get out?

Some say wait for DOW and Gold to reach parity but I'm pretty sure I wont have the patience to wait that long.
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The best way to know is to use tried and true contrarian indicators. When non-financial publications and media start touting or hyping precious metals, when you hear friends, family or neighbors mentioning gold or silver, that's when you know the top is near and you should start selling out and/or reversing position and shorting.

Also, I'd expect the charts to look pretty similar to what we saw in other bubble charts like treasuries and oil, with a final orgiastic parabolic move upward in a very compressed period of time, say a month or so.

No one can time an absolute top, but using these indicators, you can definitely time a relative top, where even if you don't get out at the exact top, chances are you'll be out somewhere in the general vicinity.
 
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Good times indeed (if you're holding precious metals and mining stocks, that is) :D .

Although I do expect a healthy pullback from these levels, but it will just be an opportunity to add to a long position for the next leg up.
 
I'm still here. Definitely a big time long term bull. Short term, we'll probably have continued consolidation and pullback, although I'm focusing the majority of my buying on silver at this point. Loading up the boat on any continued weakness.
 
the whales have been trying hard to make not only gold and silver irrelevant but also XAU components etc

I can understand the rotation out of them last fall but
it is hard for me to logically understand todays action

except maybe some big kahuna needed some cash to buy C ?

:p
 
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