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 Nordic:

Gold may puke here with the very possible unwinding in the gold long ETF market. It has been the rocket in this runup
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Over 1000 tons. Definitely a powerful driver but the ETF total value still only represents a very small % of total portfolios. I don't think an unwinding is likely; investors see gold as diversification rather than salvation.
 
it's inconceivable to me with the amount of money printing going on that gold would not continue it's ascent at some point. i think the debate is whether or not gold will pull back prior to making new highs. seems like there are two camps: those who will wait to see inflation present in headline numbers before they buy gold and those buying in anticipation of inflation. regardless it is a tough trade to hang on to with size given this type of volatility...
 
Nice move today.:)

My miners are rallying and hinting at a price of gold above 1000$ an ounce.

Let's trash central bankers my shiny precious metal.:p
 
Rumor is that the gold etf's are LENDING gold to the Fed and BOE for them to lease out to help supress the price.

Otherwise, 1/2 of the world's total gold production has gone to the etf this year so far, which doesn't make any sense at all with the price going nowhere and central banks printing money and credit with wild abandon.

Whats odd on the other side is that as the stock market fear trade ended, gold didn't sell off much.

I have no expectation of $1200 gold in 2009, but if it gets there I'll be very much richer as a result if the dollars its measured in still have the same purchasing power as they do today. Nothing like measuring with a ruler made of rubber band dollars.
 
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