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Sell your gold. Take profit now, before it drops.

 
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bassexpander



Joined: 13 Sep 2007
Location: Someplace you'd rather be.

PostPosted: Tue Jan 26, 2010 6:46 am    Post subject: Sell your gold. Take profit now, before it drops. Reply with quote

http://money.cnn.com/2010/01/25/news/economy/assets_bubbles.fortune/

Quote:
Investors are rushing to gold, because they rightly fear far higher inflation in the next couple of years and want to hedge against both rising prices and a declining dollar with a commodity that, they claim, has a fixed supply.

Since early 2009, the price has jumped to $1,100 an ounce from $875, triple its average price between 1990 and 2004. Yet the supply of gold is far more fluid than the gold bugs admit, partly because mining companies are investing heavily to increase production.

The real threat: Prices are so high all over the world that people who once treasured their gold jewelry are now rushing to sell it. Swiss refiners are offering irresistible prices for bracelets and brooches, "cash-for-gold" stores are in Chicago malls, and suburbanites are hosting Tupperware-style parties where neighbors show up to hock their gold teeth.

When this happened in the early 1980s with silver, prices plummeted from $50 to $15 in less than a year. Look for gold to end up below $500 an ounce within two years.
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mises



Joined: 05 Nov 2007
Location: retired

PostPosted: Tue Jan 26, 2010 7:05 am    Post subject: Reply with quote

Rates at 0.0, quantitative easing v.2 to begin (stealth or not) and a Fed/Treasury that is propping up equity markets by secretive after-market futures purchases is a sign that gold is overvalued?

Quote:
When this happened in the early 1980s with silver, prices plummeted from $50 to $15 in less than a year. Look for gold to end up below $500 an ounce within two years.


Economic illiteracy. Paul Volcker raised rates to the high teens. This killed gold and silver. Ben Bernanke is not going to raise rates to the high teens.
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Jeonmunka



Joined: 05 Oct 2009

PostPosted: Tue Jan 26, 2010 3:14 pm    Post subject: Reply with quote

What happened to the 90 trillion dollar debt, has it gone now?
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4 months left



Joined: 07 Feb 2003

PostPosted: Tue Jan 26, 2010 4:57 pm    Post subject: Reply with quote

January 21st, 1980�s legendary gold close of $850 translates into $2358 in today�s dollars! So what the financial media is gleefully calling an all-time high today, insinuating gold is radically overbought and due for a plunge, isn�t even halfway up to this metal�s real all-time high

http://www.rapidtrends.com/2009/09/21/the-real-price-of-gold-inflation-adjusted/

...and that's if you believe the govt's inflation figures

Mr. Herrey�s readjustment of the historic gold price based on the actual (non-manipulated, if you will) rate of inflation shows that gold in fact peaked at an inflation-adjusted amount of about $5000 in 1980.

http://laurencehunt.blogspot.com/2007/07/golds-1980-high-think-5000-per-ounce.html

So is gold over valued?? Not bloody likely!!

Should govt treasuries be shorted?? Absolutely!!
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4 months left



Joined: 07 Feb 2003

PostPosted: Tue Jan 26, 2010 6:41 pm    Post subject: Reply with quote

Everyone has their opinion...but nobody knows what will happen. Here is a report saying it will go to $1500 and eventually $3,000.

With govts printing money like newspapers and with no end in sight of end to lower interest rates (although China raised recently which will hopefully pressure the moronic soon to be re-appointed Helicopter Ben Bernanke to raise) extremely low interest rates, I'm thinking gold will be going up, not down.

Gold Prices could rise as high as $3,000 per ounce before the current Bull Run reaches its end, it has been claimed.

That is according to Jeffrey Nichols, senior economic advisor at Rosland Capital LLC, who suggests that while Gold Prices could hit $1,500 per ounce in the next 12 months, they could reach twice that amount if the Bull Run continues beyond that point, according to Commodity Online.

He told the news provider: "I believe gold will reach a new historic high this year of at least $1,500 an ounce.

"And, looking further ahead, we should not be surprised to see gold at $2,000 � and possibly $3,000 an ounce � before the bull market eventually comes to an end."

Should the US dollar continue to struggle over the coming year or two as the country battles the effects of the recession, Gold Prices could well rise further, according to observations by analyst Walter de Wet, of Standard Bank, which is the largest bank in South Africa and has total assets of approximately $172 billion.

He told Axcess News: "Like base metals and energy, precious metals remain highly dependent on what is happening in other financial markets - especially US equities."

http://goldnews.bullionvault.com/Goldbug/gold_price/gold_prices_to_reach_3000__19576940
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UknowsI



Joined: 16 Apr 2009

PostPosted: Tue Jan 26, 2010 10:41 pm    Post subject: Reply with quote

I consider most "expert tips" as rubbish when it comes to the price of gold, stocks and so on. If you could earn money buy following expert's tips, it would basically have been a free lunch.
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Panda



Joined: 25 Oct 2008

PostPosted: Wed Jan 27, 2010 2:26 am    Post subject: Reply with quote

UknowsI wrote:
I consider most "expert tips" as rubbish when it comes to the price of gold, stocks and so on. If you could earn money buy following expert's tips, it would basically have been a free lunch.


word
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djsmnc



Joined: 20 Jan 2003
Location: Dave's ESL Cafe

PostPosted: Wed Jan 27, 2010 4:20 am    Post subject: Reply with quote

Nyugga I aint sellin dis grill
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