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Your Prediction?
- Thread starter DukeOBass
- Start date
JACKHAMMER
New member
Gold has just hit $US1000.00 an oz...my view is will reach somewhere around 1200US an oz within the year
jh
jh
I'd say $1500 to $2000 by years end, possibly more.
As for why? This country is broke, bankrupt, etc. No one wants US dollars because they are junk printed on worthless paper promises, not backed by anything of real value. I anticipate another great depression like the 1930's or worse. Hold onto your hat, it's gonna be a hell of a ride!
As for why? This country is broke, bankrupt, etc. No one wants US dollars because they are junk printed on worthless paper promises, not backed by anything of real value. I anticipate another great depression like the 1930's or worse. Hold onto your hat, it's gonna be a hell of a ride!
DukeOBass
Active member
That's some serious and scary stuff considering Bear Sterns is one of the major investment bankers in the country! I think metal is going to do well for awhile. I've been waiting patiently to see if silver hits $25 an ounce. I have no doubt it will after the financial news today. I have a large quantity of the metal I bought in the $5 to $7.50 range. I bought my SE after selling off 100 ounces for $1250 and my Excal after selling off another 100 ounces for $1300. I figured I spent $1000.00 in actual value for both detectors because of what I paid for the bullion originally. I looked at the expenditure as an investment figured I'd find jewelry and silver coins.
JACKHAMMER
New member
ONE can omly hope....only have to find an oz and the trip is payed for....trouble is petro is going up along with the gold price....just as well i run on gas(natural)
jh
jh
Idaho-Marke
New member
n/t
FrankieVee
New member
I think that gold will go as high as 2500 dollars an ounce simply because in 1982 dollars when a recession mess of this magnitude happened it would be equal to that amount in today's dollars. Back then I think it was around 900 dollars an ounce if I remember correctly. Silver could go as high as 2.5 x (50 dollars which silver crept to in '82) so at least 125 dollars. Both may go higher simply out of panic buying (To me silver may be the better bet due to scarcity versus gold and Platinum). There already is a shortage of silver. Personally I think that this is a whole new scenario and 2008/2009 will make 1982 (maybe even the 30's) look like a tea party. I think what worries me the most is that I won't have enough time to position my assets for what is surely on the way. According to world prognosticators they are saying September of this year could be the ultimate force majeur (sic? and please look it up for what THAT means) for the US but the way things are blowing in the wind I have a gut feeling that it may be closer than that and could happen in a month or two, maybe sooner. When US Banks are being bailed out or interest rates cut over weekends for 2 dollars a share versus 170 dollars a share the previous year, you tell me that something doesn't stink. No time like the present to stay ahead of the curve in my opinion. I could be very wrong so do your own due diligence please and don't hold me to this. This is my opinion only. US dollars will make great wallpaper but gold, silver, and all metals hold their value for eons. Read your history books. If I dug up an ounce of Roman silver or gold today it would still be worth something. Dig up paper money and see how much it is worth. Funny how a hundred (new with zinc) US pennies are worth 3 dollars now. Tells you something. Too bad you can't melt them down. Hang onto your tangible assets in my opinion. I am. They say we have reached a plateau on metal prices. I don't think we've seen anything yet. Chinese proverb:The bird of opportunity is a fleeting bird. Don't forget, my opinion.
I hope Snakejim is wrong, but at the moment his scenario would seem more likely than not
While the US economy remains in such a difficult state investors will seek the safe haven of gold and the price will rise accordingly.
I would suspect over US$1500/oz not to be out of the question in the next 12 months.
With a change in Government and the promised pull out of Iraq one would hope there would be a little less wasted spending and the economy would settle down somewhat. Hence gold would stabilise and even drop.
We are not allowed to make political comments on this forum, but the question of gold price is directly related to political incompetence and cant be ignored.
On this side of the Pacifice we are faring somewhat better, not necessarily due to political machinations, but rather thanks to China.
Our exports of coal and other natural resources has greatly bouyed the economy to the extent that our Federal Bank is raising interest rates to try and cool it down.
From a personal point of view, when I went into gold mining as a living I was getting around US$275/oz fom memory. Due to the low value of the AUD$ to the USD$ I was recieving around AUD$ 15-$18/ gram from my gold buyer.
Now, with the stronger Aus dollar I get around USD$1000/oz yet only recieve around AUD$32 to $35/ gram. I am not complaining, as the rise is very nice, but gee, if the Aus dollar was still worth USD$0-50c i would be a blooody wealthy bloke!
While the US economy remains in such a difficult state investors will seek the safe haven of gold and the price will rise accordingly.
I would suspect over US$1500/oz not to be out of the question in the next 12 months.
With a change in Government and the promised pull out of Iraq one would hope there would be a little less wasted spending and the economy would settle down somewhat. Hence gold would stabilise and even drop.
We are not allowed to make political comments on this forum, but the question of gold price is directly related to political incompetence and cant be ignored.
On this side of the Pacifice we are faring somewhat better, not necessarily due to political machinations, but rather thanks to China.
Our exports of coal and other natural resources has greatly bouyed the economy to the extent that our Federal Bank is raising interest rates to try and cool it down.
From a personal point of view, when I went into gold mining as a living I was getting around US$275/oz fom memory. Due to the low value of the AUD$ to the USD$ I was recieving around AUD$ 15-$18/ gram from my gold buyer.
Now, with the stronger Aus dollar I get around USD$1000/oz yet only recieve around AUD$32 to $35/ gram. I am not complaining, as the rise is very nice, but gee, if the Aus dollar was still worth USD$0-50c i would be a blooody wealthy bloke!