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 Replies: 24 / Views: 2,250 |
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Pillar of the Community
United States
1228 Posts |
Citigroup analysts recently released a report predicting that the price of gold would rise above $2,000 per ounce. From the report: "While I believe that Gold could very well head above $2,000  i do not think that is today, tomorrow, next week, or next month." Do you think gold will rise above $2,000 and when?  http://www.telegraph.co.uk/finance/...nravels.html |
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Pillar of the Community
United States
5318 Posts |
 Gee...thank you Citigroup for that sage advice, while your very existence hangs by a slender thread. That article reads like a fear-mongering "tip" to push up gold yet again--without an actual basis of demand. But no matter...just don't be the bag-holder when the music stops.  -- apologies for the rant, but these guys are just rich, lol. |
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Pillar of the Community
United States
3098 Posts |
This is funny because financial analysists are just all idiots (... I want to become one, too!)
When gold was more than $1000, all the idiots from the big banks came out and said "OMG! $1500 by end of the year!"
In August when the floor fell out, JP Morgan idiots said "OMG! $500-600 by the end of the year!"
So... everyone's an idiot. Why listen to them? They're no more special than you.
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Bedrock of the Community
United States
10982 Posts |
Coinage Magazine makes this same $2,000/oz prediction in their February '09 issue.
Although gold is going to hit $2,000/oz, it seems unlikely to happen before 2011.
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Pillar of the Community
Australia
3831 Posts |
It's possible for gold to hit 2000USD/oz if the USD falls or oil prices hit 300+USD/barrel. That's because oil prices have a direct impact on mining operation.
Of course when that happens, you wouldn't be able to live as EVERYTHING increases with oil price - lesson learned when oil prices hit 150usd/barrel and people were moaning about 4usd/gallon. Would you like 8usd/gallon of fuel next while you are on the same living income? I'm sure people will learn to shut up before speculating.
My partial coin collection http://www.omnicoin.com/collection/gxseriesMy numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htmRegularly updated at least once a month. |
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Pillar of the Community
United States
3098 Posts |
If the above happens, I need to stock up on some AUD!
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Moderator
 United States
23510 Posts |
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Pillar of the Community
 United States
1228 Posts |
Title means nothing such as (idiot)because thoughs idiots are laughing all the way to the bank!
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Pillar of the Community
United States
3098 Posts |
Quote:
an analysist or an idiot  I guess being an analyst will be pretty much being an idiot! |
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Valued Member
Canada
464 Posts |
I think people are saying that due to the uncertainty surrounding the next year or two, it is a worst case scenario. If the U.S. economy suffers losses at the same rate as last year, then sure, things will get, really bad, and you'll have panic buying. Will this happen? I think the likelihood is very very low.
I think gold will eventually peak at about $1250 US. Though it already costs us Canadians $1140... darn Canadian dollar.
Edited by gawd0wns
02/01/2009 5:01 pm
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Bedrock of the Community
United States
20753 Posts |
My prediction is in the near future Scientist will either be able to make Gold or find other substances that are made to replace ALL precious metals. Note how now Diamonds can be produced and only a little and few laws are preventing the flooding of that market.
Changing metals has long been a chemist dream and is being worked on continuously at neclear labs. It's only a matter of time.
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Pillar of the Community
United States
1083 Posts |
When listening to predictions, like coin magazines, and bullion dealers, consider the source. Always ask yourself if I believe what this guy/source is telling me, would they profit in some way? As my grandfather used to tell me - what you hear from someone always depends on whether they are buying or selling. I think $1250 is the tops for gold, but than I am not trying to sell you any.
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Pillar of the Community
United Kingdom
1077 Posts |
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Would you like 8usd/gallon of fuel next while you are on the same living income? You obviously haven't been to the UK recently. That is what we were paying a couple of months back! |
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Bedrock of the Community
United States
10982 Posts |
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I think $1250 is the tops for gold, but than I am not trying to sell you any.
If we'll talking about 2009, I agree with you 100%. |
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Pillar of the Community
United States
2269 Posts |
I see it this way. If I listened to every person who ever gave me advice, I would probably receive an equal amount of good advice as I would bad. That being said, I will not predict whether gold will top $1,000.00 before 2010. The current world economy is unstable at best. Tomorrow the US dollar could gain against the Euro, only to loose it the very next day.
Purchase what you like, when you have the means to do so, would be the only advice I could give to anyone buying anything of value.
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Pillar of the Community
United States
3098 Posts |
Quote:
I think $1250 is the tops for gold, but than I am not trying to sell you any.  $1200 is when I will seriously consider selling all of my precious metals. |
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Replies: 24 / Views: 2,250 |
Posted 01/31/2009 6:39 pm
