Will 0% interest rates and trillion dollar money bombs destroy the dollar, unleash inflation, and send gold to the moon?
Or will gold sell-off as jewelry demand plummets, the dollar holds its ground, and deflation continues to rage?
If it powers through resistance, take note. If it sells off, take note too.
And of course, get popcorn.
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29 comments:
go down so i can buy you cheap!
Sells off for 2009. But the monster move up in gold will be in 2010 after all the stimulus fails and the dollar gets battered.
Ummmm... I don't know.
But if it goes down, I'm buying more. And if it goes up, I'm buying more.
Ultimately, here is what it will do...
Elliott Wave Gold Update XXIII - Alf Field
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next stop $1650 - by June 09
gold is awesome. technical analysis is stupid.
So you are saying that it will either go up or down...
Keith,
Good post, great chart.
And to answer, nobody knows. Invest in fireworks and enjoy the show.
Energy is the first and last currency. Gold is only valuable so long as a lot of people believe it is so. True, gold has been around for thousands of years, but it has only achieved significant in complex society where the value of goods/service needs to be measure since most of its participants are ignorance of the value of the goods and services that they are bartering.
Gold has served as a bartering tool, but in extreme times (life and death) i.e. collapse of civilization, it is hard to imagine what it will be worth.
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Here it is...
Gold will go up,
or down,
or hold steady!
remember you heard it here first!
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Its up! No way in hell it goes down!
Can't argue with that!
Gold is a commodity, like pork bellies. Going down.
Man that is one ridiculous looking chart. There's too much going on. When you've got more the half a dozen lines and graphs going across, it starts to complicate things. Too much information. It looks like one of those paintings at MoMA.
The 20 year globalist ponzi scheme is done. Time to pay the tab for this massive misallocation of wealth. The bankster fraud/housing bubble was just a scheme to harvest all America had left, its good faith and credit. The last stage of the game is to print gillions of dollers hand it to globalist elites/banksters so they can buy hard assets before we achieve third world status. Buy gold you fools, or tell me what happened to the 300,000,000,000.00 King Hank and Boooooooosh stole.
PS don't be dumb enough to buy paper gold so the theives that run this world can seize it. Buy the yellow stuff and bury it.
Don't say I did't warn you. The most vile men and women on earth= hte US government,
It is going to tank.dont be a sucker.
The world is looking to get away from the US dollar. Should we? (US citizens, aka 'consumers')
2008-12-30: GCC leaders endorse monetary union deal
BAGHDAD, Dec. 30 (AP) - (Kyodo)—Leaders of the Gulf Cooperation Council countries ended their two-day meeting in Muscat, Oman, with the adoption of a joint statement endorsing an agreement to create a regional monetary union.
The statement said the monetary union, a key step toward the GCC's goal of creating a single currency, will accelerate its work toward the region's economic integration.
Tyrone makes a very important point: The whole world is looking to get out of dollars, and now people are starting to do something about it. A month ago I said on this blog that the dollar's role as a reserve currency was still sound because there was no consensus about what currency would replace it.
Tyrone's link is to an article about the Gulf states looking to establish a regional reserve currency.
The Chinese are doing the same thing:
http://preview.tinyurl.com/8m5xdg
Let us pray that Obama has the leadership skills to reestablish confidence in the dollar.
The fundamentals are screaming for it to go down sharply like Oil...
However, Gold is Global and the new players on the map are the imploding British Pound, Russian Ruble, and Swiss Franc.
If the Brits, Russians, and Swiss move mostly to Gold it could go up to $1500 based on new demand from the fear trade.
I'm itching to short it but know I could get wiped out just like the MBS shorts got wiped out in 2006.
Maybe I'll stick with dollars under the mattress, I just don't know.
I guess when some broke country unloads a few tons of gold or the Imf does like they said they'd do, then I wouldn't be looking at $1500.
Another point I could make, is that if things get so bad that it does go way, way, way up, then you'd probably be better-off buying storable food right now, the freeze-dried stuff that lasts 30 years.
Last but not least, there is alot of demand, thats what "they" say and thats why there's a ridicules premium on coins, but the market supply is almost non-existent and it still isn't silly, crazy expensive, so, who knows?
I do see alot of fear selling from dealers, many of-whom are still trying to unload from when they bought in the 80's when it went to $800 something, but if you are that fearfull of such grandious catastrophies, I would suggest buying guns and lots of ammo.
I wish I'd have bought more freon r-22 when it was $60 for a 30lb can, that sh*t has tripled in price in two years. I do have some #10 cans of Mountain House freeze-dried food, but I haven't opened a can yet to eat any, it may taste like sh*t for all I know!
In my humble opinion, gold should soar over the next few years.
For the last time, people, gold is a currency, not a commodity.
Gold began the year at $830 an ounce and ends the year around $880
Not too shabby given the deflation that has taken place.
Gold will continue to rise in 09, but not without a wicked fight.
Then, when all this money that the Fed has given away is unleashed into the system (combined with Barry's New Deal stimulus)...
BAM
Gold becomes king.
Our fate is in the hands of foreign investors. If one of them dumps their dollars, hyperinflation. If they all continue to hold, deflation.
You can't eat gold.
I feel like it's going to rise some more until the election and then there's going to be a sell-off and it's going to go down. I'm basing this on the 30 year chart and what happened around 81-83... it went high, crashed, and then bounced again, and then crashed, and then there's been a steady gradual buildup since then (in general).
I don't know if it's going to go down enough for me to buy more in what I think will be a downward trend in the winter. I'd buy more if it hit $300 an ounce. Maybe $500.
What's going on with Gold, it's been flat for 8 fucking hours, I can't take the suspense!
Gold's strongest correlation is to *real inflation.*
Jeff said,
"You can't eat gold"
Well you can't eat lead either,
But I have some anyway!
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I don't think metals are a good investment. I recommend holding 10% in physical metals but just as a disaster fund should the worst predictions come true. I expect gold to go down again as we are in a deflationary spiral but it could just as well turn should sentiment change. For me, it's too risky trading...and I'm a currency trading!
Forget gold buy USO (oil). Anyone really believe that oil will be below $40 for very long? I bought some USO at 29.07 last week, it's already up 10%.
I think Gold is going down in the near term. It correlates pretty well with oil prices.
I also don't believe the US is about to experience hyperinflation or currency devaluation - too much owed to foreign governments that own too large a chunk to be be able to afford to let it drop significantly.
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