Going to be interesting to see who is going to be right or wrong.. with regards to POG... I am starting to lean towards that maybe we have seen the top in gold?? But that being said 1500 POG is still makes money.. CS came out with this..
Gold (GC : NASDAQ : US$1669.10), Net Change: 7.10, % Change: 0.43%
The Beginning of the End of an Era? Credit Suisse published a noteworthy comment on gold Friday, "The Beginning of the
End of an Era". Credit Suisse notes the past five years have been among the most tumultuous ever seen in global financial
markets, with the collapse of Lehman Brothers in September 2008 unleashing a series of events without precedent since at least
the 1930s. The financial underpinnings of the crisis, the potential consequences of the reflationary “fix”, along with the rolling
financial issues in Europe, all contributed to an extraordinary flight to quality. U.S. Treasuries and gold were among the clearest
beneficiaries, with the precious metal enjoying a Renaissance period as its role as a financial asset was reappraised by central
banks and investors. Given its historical role as a store of value, Credit Suisse says its not surprising that investor demand for
gold increased substantially. Now, however, with the acute phase of the crisis likely to be behind us, Credit Suisse believes the
peak of the fear trade has now also passed. Despite the recent pullback in price, against any sensible benchmark gold still
appears significantly overvalued relative to the long run historical experience. With global growth now improving and inflation
expectations contained, Credit Suisse feels that downside risks are building for gold - it looks increasingly likely that the 2011
high will prove to have been the peak for the USD gold price in this cycle, and that the "beginning of the end" of the current
golden era will come sooner than the Q3 which Credit Suisse had forecast in January.