Jump to content

There Goes Gold!


Recommended Posts

Probably only a few of you have not noticed the upward movement in gold since the first of the year. Starting the year at around $1040 in early January, as I write this gold is at $1367, a 31% increase. I only wish my stocks had done as well!

HBC Bank predicts that gold will hit a ceiling of around $1400 in the near term.   http://www.kitco.com/news/2016-07-05/HSBC-Ups-Gold-Forecast-But-Sees-Potential-Ceiling-At-1-400-Oz.html

I was having lunch with a prospecting friend last week and he was saying he thought gold might hit $1800 next year in 2017. I am of a mind that is less excited, and I think gold may hit $1500 next year. Still, either way, things are getting better and it seems like the bottom of the cycle is over and we are on the way up.

What do you gents think?

  • Like 2
Link to comment
Share on other sites


I agree gold will be going up Chris. I think however, the price may go way higher in the very near future. 

I don't believe we and the rest of the world, can get away much longer with our everything on credit society. We will probably see negative interest rates here in America soon and the money printing presses can crank out phony money only so long.

Stocks in gold mining companies are doing really well. Many of them much better than gold itself. I believe these stocks have a lot more room to grow and are still relatively cheep for the potential. Especially the junior ventures.

Mike

  • Like 1
Link to comment
Share on other sites

Within a year, two at most we'll be in the midst of another worldwide recession.  It will be fueled by the weakening economies of China and Europe, yet will be felt in North America, too.   Historically, a lot of money goes moves into gold to weather the storm of such events.   So, gold is on an upward trend until the world comes out of the next recession.

I'm still a working man so don't take my economic advice.  The above is from the smarter people who now manage my meager retirement account since I've quit squandering it

  • Like 2
Link to comment
Share on other sites

Gold has responded well to the Brexit vote and the fear the whole EU could be effected. However with China's growth slowing and their demand for commodities decreasing, the world is wondering if a recession is near. Gold retreated with the other commodities last fall. Gold and Silver are now recovering. Silver was particularly hit hard with the gold/silver ration getting very wide. The big gap is beginning to close. With the British pound closing at $1.29 there are many Englishmen tonight who wish they had bought gold.

If it was not so sad it would be humorous to watch the battle of the fiat currencies. Holders a particular currency want to see their money stay strong. However, each nation's "economic policy makers" want to see their currency devalued to make their exports more attractive and maintain full employment. We now have a Federal Reserve that has a goal of 2% annual inflation.

Gold's future as a store of wealth is strong.

Link to comment
Share on other sites

Is it too late to get in? If silver hits $30, I am selling at least for the short term. Nearly everyone in the investment world seems to be upgrading their predictions for gold and silver. When everyone is pointing the same way, the herd is often wrong. Here are the latest some of the banks’ and investment firms updated forecasts:

Link to comment
Share on other sites

Am I missing something, or is no one looking at the commodity futures market for gold.  No, they aren't right all the time, but most of the traders there have only one or two things to be concerned with, and it's their sole livelihood.  For most of us (yeh, not all), we can live with $400/tr-oz gold or $2000/tr-oz gold and not be concerned about what's paying for the next meal.

I hope it's going up, too, but there are more things in life than hope.  Fun thing to speculate on, anyway.

 

 

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...