Reno Chris Posted July 6, 2016 Share Posted July 6, 2016 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? 2 Link to comment Share on other sites More sharing options...
delnorter Posted July 6, 2016 Share Posted July 6, 2016 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 1 Link to comment Share on other sites More sharing options...
Sourdough Scott Posted July 6, 2016 Share Posted July 6, 2016 Silver is a good buy too. 2 Link to comment Share on other sites More sharing options...
wirelessguy Posted July 6, 2016 Share Posted July 6, 2016 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 2 Link to comment Share on other sites More sharing options...
Randy Lunn Posted July 7, 2016 Share Posted July 7, 2016 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 More sharing options...
Flyinjeff Posted July 7, 2016 Share Posted July 7, 2016 A very interesting stock to watch at this time is NUGT. Link to comment Share on other sites More sharing options...
boulder dash Posted July 9, 2016 Share Posted July 9, 2016 I'd be very happy with a consistent 1500 an oz. Much easier to make wages from gold. Link to comment Share on other sites More sharing options...
Reno Chris Posted July 10, 2016 Author Share Posted July 10, 2016 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: BoAML calling for $1,400 gold, $30 silver UBS increased short-term target to $1,400 Goldman Sachs’ new 3-, 6- and 12-month targets are $1,300, $1,280, and $1,250. Commerzbank ups year-end target to $1,350 Natixis calling for $1,450 gold in the next 2 months ABN Amro calling for $1,425 gold by end of September HSBC sees $1,400 gold Credit Suisse sees $1,500 gold in 2017 Societe Generale raises its target to $1,330 Wells Fargo - they still predict $1050 Link to comment Share on other sites More sharing options...
GB_Amateur Posted July 11, 2016 Share Posted July 11, 2016 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 More sharing options...
Hobo Posted July 11, 2016 Share Posted July 11, 2016 If gold goes to1500 I may buy some dollars with some of my gold Link to comment Share on other sites More sharing options...
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