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How About That Gold Price ?

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Pillar of the Community
United States
6325 Posts
 Posted 09/09/2009  09:08 am Show Profile   Bookmark this topic Add eaglefoot to your friends list Get a Link to this Message
I see it's hoovering around to almost $1,000.00 an oz. !.......That's pretty awesome !
With the weakening Dollar......I wonder how high it will go before the inevitable "downward slide" ?
I would not be silly enough to inquire about "predictions" of course......but I, for one, would like to at least see Gold rise to $1,350.00 and ounce !
Anybody think THAT will happen ? ...

If it does......I might have to REALLY consider parting with an item or two ! ....
Valued Member
United States
129 Posts
 Posted 09/09/2009  09:16 am  Show Profile   Bookmark this reply Add timer to your friends list Get a Link to this Reply
Your guess is as good as mine but I think there is still considerable upside potential to both gold and silver. IMHO The growing deficit can only hurt the value of the dollar. A long term economic recovery is still a big question mark even with the trillions in spending. Alternate investments are still viewed as a large risk to most investors. I would guess $1150 for Gold and $20 for silver by 2010.
Pillar of the Community
United States
3294 Posts
 Posted 09/09/2009  09:39 am  Show Profile   Bookmark this reply Add nod2003 to your friends list Get a Link to this Reply
I hope gold goes back down to $400 because that is indicative of a strong dollar and I do not own any gold, but considering the speed that the government will have to print $ to make up their huge deficit, $1400 looks more likely. I also would love to see a repeat of the hunt bros on the silver thing, since that is what I have.
Valued Member
United States
79 Posts
 Posted 09/09/2009  09:47 am  Show Profile   Bookmark this reply Add 2old to your friends list Get a Link to this Reply
I believe the gold market is manipulated by several governments. It is a very small market when compared to other metals like copper, silver and so on. I have bought/sold gold sporadically since the 70's. If silver is at $17.00. Gold should be at $1,800.00. How many of you remember the boxcars of silver that were shipped to England in the late 70's early eighties. I was not just a couple. Many small markets are severely manipulated, rare coins being one. Sugar is another.
Pillar of the Community
United States
1055 Posts
 Posted 09/09/2009  10:09 am  Show Profile   Bookmark this reply Add cownas22 to your friends list Get a Link to this Reply
I hope gold goes up to $1,400- $1,800 an ounce! I would like to do a straight trade with a bullion 1oz. coin for a MS63-MS64 Liberty or St. Gaudens Double Eagle. Anybody want to trade now?

I do not think $2,000 an ounce is out of the picture, maybe not 2010 but by 2012. Pure speculation of course. My guess is as good as any, I figured gold would be $1,200-$1,300 by now (my prediction this time last year). Silver should certainly surpass $20 in my opinion, I think it will be $30-$35 an ounce before too long.
(Disclaimer: my post is pure speculation, if you like the numbers I threw out and buy silver or gold, and the prices rise to predicted levels I will require 20% referal fee)

I for one do not forcast the dollar becoming any stonger until there is a strangle hold placed on the deficit and the gov't spending. I predict that by 2012 that $1 US Dollar can buy 1 stick of gum out of a juicy fruit pack, shielded by glass under the convenient store counter to ward off 5-finger discounts.
Pillar of the Community
United States
6325 Posts
 Posted 09/09/2009  11:04 am  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
I will not get political here (aside from this).......but with the current administration and that party's idealogy...... "Spending" is something they enjoy doing....and I don't see another bipartisan project like "Contract With America" to "balance the budget" coming anytime soon...
Example number one......how much will this new "Health Care Bill" cost us ?
If this current regime has two terms and maintains a Congressional majority....and passes certain things.........we have potentially 8 total years of exactly this and/or worse. And then it would be the year 2016 before a new and different idealogy could be in place to change the path. Would the "Dollar" weaken throughout this time ? .....dunno.
Will this be when Gold starts to go down then ? (2016).....
(but a little bird tells me that a "Congressional Shift" may very well happen in the next couple of years).....we'll see.
I certainly hope we start doing well.....quickly though !.....even if it means that the Gold price starts to tank because of it !
It's a shame that strong Gold prices might only ever happen with a weak dollar...
Edited by eaglefoot
09/09/2009 11:34 am
Pillar of the Community
United States
1571 Posts
 Posted 09/09/2009  2:29 pm  Show Profile   Bookmark this reply Add livingdinasaur to your friends list Get a Link to this Reply
In my humble opinion, Gold will never be ay a very high level. Why? There are too many countries that have very large deposits on hand, and when things get tight, they release large quantities to the world market, to drop the price. it all ties to the dollar. if the dollar gets too high priced in a particular country, Russia, for examlwe, rthe they release a lot of gold, and the dollar, and gold drop. The metal ti watch, IMHO, is silver. it is not toos steady at present, but with ?China, and India, among other countries developing, or begining to develop, we will see the demand industrially, for silver skyrocket! gold is still readilt obtainable in most of the world. not commercially in some, but still available for small operations. I know where gold can be obtained for very little work. I don't mean by the ton. By the ounce, and a little work One doesn't need heavy equipment for underground operations. Surface will do it. So the dollar keeps dropping, and money get tighter, and tighter. the people will slowly go out and find the gold, as it was in the early 30's. Silver is the one that will be harder to obtain. the unmined supply, is not like the gold resorces, mostly un mined. It is also much more widely used in commercs, and state of the art technology. It will slowly get higher, and higher priced. It will take time. Some of the more exotic metals will be even mor expensive to obtain, and they are now being used industrially. The problem with them is the amount available.
Gold is a good hedge against the furture worth of the dollar. With the current ideas of the administration in office, we could see times a whole lot worse than they were in the last depression. People will be so desperate, that unless you have a way of keeping your "wealth, hidden, it will be a target for most anyone who is desperate enough, no matter the price to pay! don't say you weren't warned! Many of you will, like me, not be around to see this happen, but there are many of the younger generations, that will. And they will suffer. Keep America FREE! Keep the RIGHT TO BEAR ARMS, as one of our basic rights! There will come a day when they will be needed. Be prepared. Do I sound cynical, crazy, perhaps? Look around, and think about what is going on. We are not, YET, a third-rate power, but with a bit more of what is going on currently, we will be! With alliances like China, Russia, and Venezuela, you have a ticking bomb, waiting for the"nut" to do something crazy, thinking hos allies will back hom, and find that the "so-called allies", no longer care. Then the reality comes. it won't be nice. Hopefully I won't be around to see it. I would not be able to accept that, or content to see what they have done to my country! Sorry about ranting, and raving. It does help to let off a little steam, even if someone gets burned, in the process!
Dick
Valued Member
United States
79 Posts
 Posted 09/09/2009  3:05 pm  Show Profile   Bookmark this reply Add 2old to your friends list Get a Link to this Reply
I agree somewhat with the above post, but I think the best play is to acquire, copper, brass, aluminum in large quanities. The price is right and as soon as manufacturing, well slightly after manufacturing on a global basis takes off, these will be the metals in need. Gold will always be manipulated and there is no shortage of silver. When they took silver out of coins, they created an abundance of it. The mint shortages of gold are due to the requirement that they use only newly produced domestic gold and/or silver. They can not melt down scrap to make gold coins or silver eagles.
Pillar of the Community
United States
6325 Posts
 Posted 09/09/2009  3:21 pm  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
Hmmmm.....well.....that doesn't sound too hopeful of "future high Gold prices".....
Valued Member
United States
79 Posts
 Posted 09/09/2009  3:52 pm  Show Profile   Bookmark this reply Add 2old to your friends list Get a Link to this Reply
I have played gold since the 70's. Likely it will go up, but consider this, copper has doubled in price this year. Piles of aluminum are going unwanted. It costs a lot more to refine aluminum than recycle it. I would guess aluminum will go up 400% if things take off. It will take a while to get through the inventory, but it will skyrocket. Thing is, where do you keep it? I am talking bales, not cans. Lot's of things will make you more money than gold.
Valued Member
United States
408 Posts
 Posted 09/09/2009  7:35 pm  Show Profile   Bookmark this reply Add cuzzx to your friends list Get a Link to this Reply
It was what, about three weeks ago that Gold was at $888.00

So it can drop jut as fast.
Bedrock of the Community
United States
17063 Posts
 Posted 09/09/2009  10:23 pm  Show Profile   Check BadThad's eBay Listings Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
Gold is actually a very slow trend upward.

http://www.kitco.com/charts/popup/au1825nyb.html
It has its dips but there's no denying the overall trend. In 10 years it tripled in value. Anytime we see too rapid of a swing, people/countries sell off to take profit. Some people may even have a stop-loss set triggering a sell....just like stock.

My plan? Just like the stock market, it's time to hold unless you're a swing trader. All there is for the 10 year+ holder is upside potential. There is good suppport at the bottom at around $700, so I don't ever see any lower than that. If it dips, it will most likely set a new higher low at about $850. Based on history I don't know how anyone can't see the chart technical analysis.
Lincoln Cent Lover!
Edited by BadThad
09/09/2009 10:23 pm
Pillar of the Community
1844 Posts
 Posted 09/10/2009  06:47 am  Show Profile   Bookmark this reply Add artdio to your friends list Get a Link to this Reply
I gambled about a year ago and bought large quantities of gold coins ( maple leafs , and others) It just seemed the right thing to do..Well so far so good and from I can tell it will only go UP UP UP , and lets not forget the sleeper SILVER.....
Valued Member
United States
79 Posts
 Posted 09/10/2009  12:13 pm  Show Profile   Bookmark this reply Add 2old to your friends list Get a Link to this Reply
I need to revise my thoughts about aluminum, It has taken quite a spike since I last looked, so, rather than 400%, I think 200-250% over next 24 months is more realistic.
Pillar of the Community
United States
6325 Posts
 Posted 09/10/2009  2:18 pm  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
So.......where are ya gonna keep yer' "bales" of it ? ...
Valued Member
United States
79 Posts
 Posted 09/10/2009  3:02 pm  Show Profile   Bookmark this reply Add 2old to your friends list Get a Link to this Reply

I was not paying attention to aluminum. This is from Bloomberg today.

Aluminum has gained 23 percent this year in London, rebounding from two consecutive annual declines. Supply of the metal will outpace demand this year and next, Barclays Capital said Aug. 18. Stockpiles in warehouses monitored by the London Metal Exchange have almost doubled this year, reaching a record 4.63 million tons on Aug. 20.

I have a connection to buy and store as much metal or scrap as I like as long as I buy it from the person who will store it. He has an industrial building that he has turned into a recycling operation, 60 percent of it is vacant. I have bought copper and brass from him, but only pondered aluminum. He has bale after bale just sitting there. They recycle tires by the semi load and turn that into mulch for Mennards.

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