By Rob Bates, Senior Editor Posted on June 18, 2013 EXCERPTS: Commodities analysts at Societe Generale recently predicted the precious metal could sink as low as $1,200 an ounce now that the gold bubble has burst. The analysts wrote that there has been a “paradigm shift” in investors’ attitudes toward gold after its dramatic drops earlier this year, news outlets, including the International Business Times, reported. ...... At press time, the metal was currently trading at $1,367. The Societe Generale analysts are not the first to offer this prediction. In May, Michael Widmer, metals strategist at Bank of America Merrill Lynch, predicted it might drop to $1,200 an ounce. And NYU professor Nouriel Robini has written that the metal could hit $1,000 by 2015. ....... Analysts Predict Gold Will Drop to $1,200 - JCK
and if i have any extra money laying around, I'll be buying the entire way down. Dollar cost averaging is your friend.
yep, there is a huge disparity between paper and physical price. smart ones want shiny, ones that think they'll get rich want receipts for shiny. Gold is too $$$ for me. But every once and rare awhile someone is looking to offload a fractional that i'll put in safety deposit box. But it's not often.
Just from my analysis that I ran back in March I was looking for metals and natural resources to start bottoming out as a whole this fall. It looks like we are heading into that trend right now. This fall is buying season, and I like silver to close the gap.
Yeah, the US buck is suddenly going to become more valuable for some reason......printing more of them equal more value somehow........ When they set up a burn barrel on the steps of the FED and burn a few billion of 'em everyday, I might start to believe gold is going down over the long haul. And China, the world's #1 gold producer, who allows NO export of it, AND who has been buying record amounts of gold over the last few years in anticipation of a gold backed yuan to replace the current world reserve currency, is suddenly going to listen to these "experts" and reverse course 180 degrees. Yeah......and pigs will fly..............
"And with the traffic report, it's officer Dan, the helicopter man. Over downtown. What do we have to look forward to today officer?"
I still believe that physicals are too expensive because of the premium that must be paid to obtain the.
Well, Look at the Price of Gold, over the last two years.... $1500+US/Oz then, and $1280US/Oz yesterday.... It would only need to drop another $80US to meet "TheEconomist" prediction...... ......
well, if the FED keeps up the naked short sales, they could drive it down to 4-500 an ounce. I'd be ok with that. I'd be buying all the way down (dollar cost averaging) with FRN's not earmarked already.
Erm, I thought you were the ETF/paper trade guy? You don't know what naked short selling is? Ok, it's when you sell something you don't own. Like well say, 500 tons of gold. Where by the sale of that many contract for gold drives the price down. And if one chose to, they could buy the underlying physical gold (which they won't) back to cover the short sale. A naked short is when the short seller does not have or borrow the item that he shorts, but sells shorts regardless. All part of market manipulation in PM's been going on for a long time.
I did and also saw where some guy threw away a computer that had a HUGH Pile of BitCoins on it.......