Analysts Predict Gold Will Drop to $1,200

Discussion in 'Financial Cents' started by tulianr, Jun 19, 2013.


  1. tulianr

    tulianr Don Quixote de la Monkey

    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
     
  2. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    and if i have any extra money laying around, I'll be buying the entire way down. Dollar cost averaging is your friend.
     
    Yard Dart likes this.
  3. gunbunny

    gunbunny Never Trust A Bunny

    Good luck trying to find it for that price.
     
  4. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    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.
     
  5. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    If there's a war with Syria and Iran, it won't drop.
     
    Yard Dart and VisuTrac like this.
  6. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    And you could probably expect Oil to go stratospheric.
     
    tulianr and Yard Dart like this.
  7. enloopious

    enloopious Rocket Surgeon

    When they say it will drop it always does the opposite. Be ready.
     
    TnAndy likes this.
  8. Pyrrhus

    Pyrrhus Monkey++

    Heaven help us, don't put it in a safety deposit box. Not a literal one. In a bank.
     
    Moatengator likes this.
  9. TheEconomist

    TheEconomist Creighton Bluejay Site Supporter+

    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.
     
  10. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    Gotta love Celente.

     
  11. TnAndy

    TnAndy Senior Member Founding Member

    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.

    FED chart.

    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..............
     
  12. kellory

    kellory An unemployed Jester, is nobody's fool. Banned

    "And with the traffic report, it's officer Dan, the helicopter man. Over downtown. What do we have to look forward to today officer?";)
     
  13. TheEconomist

    TheEconomist Creighton Bluejay Site Supporter+

    I still believe that physicals are too expensive because of the premium that must be paid to obtain the.
     
  14. BTPost

    BTPost Old Fart Snow Monkey Moderator

    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...... ......
     
  15. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    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.
     
    TheEconomist and gunbunny like this.
  16. TheEconomist

    TheEconomist Creighton Bluejay Site Supporter+

    What do you mean by the naked short sale?
     
  17. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    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.
     
  18. BTPost

    BTPost Old Fart Snow Monkey Moderator

    Gold has only to drop $20US to reach @TheEconomist prediction.... Not bad for a kid from the east...
     
  19. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    ssshhhh, just in case you didn't hear, a BitCoin is worth more than an ounce of gold. ;-)
     
  20. BTPost

    BTPost Old Fart Snow Monkey Moderator

    I did and also saw where some guy threw away a computer that had a HUGH Pile of BitCoins on it.......
     
    VisuTrac likes this.
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