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Gold Prices - Forecast

rich471

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Gold

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.” http://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=GEM&t=LIST&m=28586858&l=0&pd=0&r=0 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

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Europe needs to solve debt before summer doldrums

posted on 12/22/2011 2:17:31 PM | 347 reads | overall quality: 5

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 decline. ...

Greece still the wildcard, buy gold

posted on 11/3/2011 2:53:18 AM | 378 reads | overall quality: 5

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 disaster. ...

Are you buying physical gold?

posted on 10/3/2011 11:14:18 AM | 390 reads | overall quality: 5

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 dips. Too ...

Buy gold on dips

posted on 9/5/2011 5:15:17 PM | 506 reads | overall quality: 5

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 we ...

China angry at U.S credit downgrade

posted on 8/6/2011 6:45:52 PM | 838 reads | overall quality: 5 | 1 comments | latest comment : 8/6/2011 6:49:41 PM

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.”http://www.stockhouse.com/Blogs/ViewDetailedPost.aspx?p=118869We 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 start to ...