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
Given how often these days gold is touted as the ultimate “safe haven,” it’s not surprising that investors might feel less safe if they knew that the NYSE-Liffe futures exchanges seems to have run out of 1 kilogram gold bars. Futures contracts at NYSE are now backed by the promise of a one-third interest in a 100-ounce gold bar (about 3kgs). Not to worry, however, if you own three of these promises, you can take physical possession of 100 oz refined gold bar.

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Quote from thriftybob:

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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It is quite obvious everything is being done to keep it below 1000. Above that level would pull in speculative money. At some point you would think the dam is going to break. We'll see.
 
Quote from gigsup:

It is quite obvious everything is being done to keep it below 1000. Above that level would pull in speculative money. At some point you would think the dam is going to break. We'll see.
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The TA pundits were all saying Gold going down through 882 meant next stop 850. Friday's action was interesting; Gold hung around most of the day under the supposed critical support and didn't do anything.

Could be the IMF sale is counterbalanced by ETF situation around 880. Also China or Russia may take out the whole IMF offering in one shot. If so, we'll see a major move up.
 
Quote from gigsup:

It is quite obvious everything is being done to keep it below 1000. Above that level would pull in speculative money.
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Surely no speculators at all in Gold right now, all wise investors simply paying some insurance premium to "hedge" risks :cool:
 
Personally think it needs to get down to around 650.00 or there abouts to be bullish but then I am with ya.. though I think the potential is about double what you are looking at if you lengthen the time frame a bit... but have to see where we are at in the fall
 
Quote from makloda:

Surely no speculators at all in Gold right now, all wise investors simply paying some insurance premium to "hedge" risks :cool:
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I bet you won't find even ONE person on this message board that was long GLD today. I asked on a real time chat with 5000 traders on it and there wasn't even one.

So, who is it that's long 1100 tons of GLD?

BTW, I heard todays panic was caused by China wanting the IMF to sell ALL its gold.

Gee, I wonder if China would want to trade a few of their dollar reserves for it? That would be my bet. Unfortunately, 3000 tons is but a pittance compared to what we owe them.
 
So the IMF is gonna sell all of it's gold, the banks are hunkie dorie again, stocks rallying like never before and the G20 gonna save the world.

Today gold is +900$.

That's some strength I would say.
 
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