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Gold Prices - Forecast

3 stars

1504 Reads | 3 Comments | 0 People call this a favourite

Gold has recently gone through a period of consolidation. In a post on September 13 I stated the following when gold was around the $1100+ area. “I believe gold will reach $1300 by spring and sustain the $1200 level minimally through 2011.” The Indian gold buying season (wedding and festival) is in full swing as Dhanteras the first of the 5 day Diwali Festival is beginning November 3rd. India imported 34.8 tons in September up 30% from 26.8 tons the previous month. I was obviously too conservative as gold should hit $1400 by spring. I would also like to add that by the end of the Obama administration in the U.S. that gold should easily be in the $1500 range if not higher as the non reported printed presses at the U.S. treasury continue to run at full speed. rich47

  • Europe needs to solve debt before summer doldrums

    167 Reads | 0 Comments | December 22, 2011

     Some of the Euro zone is having success with their bond sales however it won’t erase forty years of social welfare with little tax collection during those times resulting in deficits that are beyond control. If this continues to drag on deep into the spring without some deep intervention most likely with the IMF involved we could see another drop similar to last summer 2000 point...

  • Greece still the wildcard, buy gold

    177 Reads | 0 Comments | November 3, 2011

    Greece with the referendum vote will continue to play havoc on any positive market direction. The U.S. is still showing that it is still on the right track for improvement however with this latest twist and to the shock of everyone Greece will delay any sense of market security and could initiate a world recession. If Greece fails to solve its debt problems this will set off a Euro zone...

  • Are you buying physical gold?

    102 Reads | 0 Comments | October 3, 2011

    We definitely had that dip down to $1500. The trend that has reversed in recent times is that the Euro was the go to currency of the past, when the U.S dollar and treasuries were considered poison. The Euro was also favoured over gold. Turn the page forward and the Euro with all the debt trouble with European countries is to be spat at.   I like gold in every scenario and like to add on the...

  • Buy gold on dips

    95 Reads | 0 Comments | September 5, 2011

    The volatility has been a wild ride and before I could suggest buying bullion on the first dip down to the low seventeen hundreds it rocketed up back to the eighteen hundred level and as I write this it is trading at nineteen hundred dollars. I have stated in each blog expect volatility of +- $100. I have been a gold bull since gold was trading at $300 but find it impossible to judge lately the...

  • China angry at U.S credit downgrade

    132 Reads | 1 Comment | August 6, 2011

    Looks like I may have to upgrade my predictions for gold. I did say in my last blog; “if the U.S credit rating is downgraded then $1800 gold may be reached next year.” will have to see if gold starts to run wild or not as nothing ever goes straight up. The remainder of the year will be interesting, as the market volumes will...

  • Gold direction/Markets - Don't fear the reaper, embrace it

    103 Reads | 0 Comments | July 30, 2011

    Of course most believe that gold will drop if the U.S. raises it’s debt ceiling and one or two trillion dollars in cuts are approved. That will be correct. However this will only be a temporary solution even if they supply enough funds past the 2012 elections as the problems and massive deficits will remain. The cuts approved would be over a long time period thus neutralizing any short-term...

  • Feeding Ground for Bargains

    75 Reads | 0 Comments | June 30, 2011

    With the shakiness of the European markets and economy and the August deadline for the U.S. budget ceiling the markets are in turmoil and the frightened are being scared out of their shares. This is the perfect time to be picking up those bargains you have been eyeing. Many investors lack the patience required to make serious coin when it is the best of times let alone when summer doldrums roll...

  • I respect George Soros except on Gold

    103 Reads | 0 Comments | May 31, 2011

    With his recent flip-flopping on gold any gains he made recently by selling off gold positions are going to be short term. I first mentioned Mr. Soros on a blog the end of last year when I said the following “Mr Soros billionaire and philanthropist recently reduced his positions in his gold holdings starting around Sept. ~ when gold was around $1275 which when you own that much it makes sense...