January 26, 2009
Get your prediction in here for gold price on 12/31/2009
When the history book is written on this financial collapse, the chapter on gold will be one of the most interesting.
Gold generally confuses the hell out of me, I admit.
But so does printing trillions and trillions of dollars, while watching people around the world exchange out of their local currencies in order to acquire dollars.
So have at it.
An epic collapse in gold prices, as jewelry demand plummets?
Stays about the same price, as a calm safe haven from the storm?
Goes to $2000 and higher, as people give up on all paper currencies, including the US dollar?
(blog note - every time gold touches $900, and every time I post on it, it falls back. So let's see if it stays true to form... or if it finally breaks through)
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31 comments:
Perhaps the question is being ill possed. If paper/digital money collapses then it will not matter what the "price" of gold will be. What would that mean anyway? Perhaps it is better to ask what the basis of the new world currency will be? Will it be gold? Will it be energy? Will it be land? Will it be water? Will it be food? Will it be carbon? Will it be coffee beans? Will it be human beings? If you think this is a silly question ask yourself what value of the dollar is based on right now?
Don Payne
$1,131.00
but I am not buying any.
$2,000
But there'll be a lot of manipulation until then by the shady gov.
$1,800
Gold is a currency. It only functions as a commodity when there is trust in paper money.
So, the question I ask myself is will trust in paper money go up or down in 09'?
I say trust goes down and
gold ends up being a very good bet in 09' (as it was in 08').
Just add $200/oz everytime a country defaults.
Prediction on 12/31/09
$2100
That's six defaults, not including Iceland.
That said, I don't believe that hyperinflation is going to be the driving force in the price of gold in 2009, as I don't believe we will have inflation in 2009. The driving force in the upward price of gold will be fear (a flight to safety). If we ever do get to hyperinflation...maybe $5,000 in 2012.
If I'm correct, I want a 1 oz Gold Liberty coin, ok?
How much in Confederate currency is a troy ounce of Gold worth?
I give it a 50/50 chance that the answer to the above question will be the same for the USD by 12/31/2009.
The other side of the coin toss odds would see Gold over $1500/oz.
Either way holding Physical Gold now is a much better bet than stuffing cash into CD's or under your materess.
Mish says Peter Schiff is all wrong and we are now in deflation. Here is the link:
http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wrong.html
$500.00
The world is no longer tied to gold. Pull your collective heads out of your behinds and stop trying to create a gold bubble.
The new currency of the 21st centurywill be bread. I mean the kind you eat.
"I say trust goes down and
gold ends up being a very good bet in 09' (as it was in 08')."
?? Gold was flat in '08. I'm looking at the London Fix data on Kitco right now. Jan 1, 2008 - 840.75; Dec. 31, 2008 - 865.00. Low - 692.50 (Oct. 24); High - 1023.50 (Mar. 17).
If that's a very good bet, I'd hate to see an OK bet. :)
.
.
Gold Prediction 12/31/2009: $1,770
The world is not going back to normal after the magnitude of what they have done
.
To the moon Alice to the Moon,
The real value of gold now around $3000-$3500, but because of Gov. manipulation and JPMorgan price suppresion it not even $1000.
I think it will be $1200-$1600 depends how ugly things will be.
Keith,
On a related note, Mr. Jim Sinclair (jmineset.com) wrote the following letter around the holiday. While I typically don't take much stock into outrageous predictions or statements, it struck me as odd because I don't think of Jim as being too extreme in his thinking. It's one thing to predict a event, but to provide a day and year along with the event...? I followed his direction and wrote it down. Here is the letter.
Dear Friends,
Here is my New Years gift to you, my extended family.
There is no way that the CONSEQUENCES of the largest creation of paper money since it was invented can be avoided or even modified. Odds now favor Alf Field’s price objective (Elliott Wave Gold Update 23, bonus article Crisis Cogitations).
January 14th 2011 to June 21st, 2012:
The best part of this gift is not the one you already know, which is January 14th 2011, but rather the date that a new currency form will replace the form of the US dollar as you know it today which is the third week of June 2012.
Don’t laugh! Write this down and do not forget about it!
Happy (sort of) New Year,
Jim
Gold briefly goes to 1125 before ending the year at 959.
425.00 tops.The same morons trying to sell you gold are the same ones selling condos in miami.don't get scammed again.
$690. Although this depends on the dollar holding up as other countries crash and there is a continued flight to 'safe' currencies. Still more unemployment and equity drops to go. Gold is at record highs when measured in pounds and euros... hard to see more upside here.
-Mike
http://www.ft.com/cms/s/0/85bb17bc-ebcf-11dd-8838-0000779fd2ac.html
When I see videos like what you just posted this is a screaming sell signal to get out of American Eagles. Seriously.
-Mike.
I predict gold will hit $1,300 an oz. by Dec 2009
Keep your eyes on gold stocks too.
I have to agree that gold will probably hit over $1,000. The pisser is that the dollar will hang on while other currencies crumble, as I have told Keith a million times before.
Keith you must want to kill Schiff by now with all the money he's lost you. I mean, international stocks have crashed more than US stocks, gold is not 10,000 like predicted, there is and will be no decoupling. And don't hold your breath waiting for gold to hit that $10k, even though it will most likely move up and be more stable than any other currency out there.
Thanks god that I stopped listening to Schiff a long time ago. He makes a great show on TV, but in real life he's theory does not stand. What happened to Zimbawe???
Dny
Gold is going to go crazy, because all paper currencies in the world are currently hugely overvalued.
How do I know this?
It's easy. Do a quick calculation with the current value of your house (say it's worth $300K) and convert into gold pounds.
Then work out the rough (very rough) value of your suburb's houses.
Then your city's.
And then google to find out roughly how much gold there is in the whole world.
And you'll find there isn't enough gold to pay for even the houses in your CITY, let alone the whole country, let alone the whole world.
Which means your house is massively overvalued, which means everything that we consume is massively overvalued, which means that gold is comparively undervalued, as it is the standard that society always comes back to.
So I'm investing in gold. It's massively undervalued, and will rise hugely when paper money goes through the floor. And everyone realises that paper money is just - paper.
My guess $1000
Deficit spending will hold the Dow to Gold ratio close to 10 until interest rates are forced up.
Then it will fall to a historical norm of around 5 with Dow around 3000 and Gold around $600.
This is an interesting chart showing the peak of the bubble in 1999 with a ratio of nearly 45:1
Dow Gold
.
Way to early to bail-out!
No real panic yet.
.
?? Gold was flat in '08. I'm looking at the London Fix data on Kitco right now. Jan 1, 2008 - 840.75; Dec. 31, 2008 - 865.00. Low - 692.50 (Oct. 24); High - 1023.50 (Mar. 17).
If that's a very good bet, I'd hate to see an OK bet. :)
"Flat" is relative. Nearly every other investment lost 30% to 40% in 2008. Next, we could wake up one morning and find the dollar is worth .50c or .30c. How about that? That's one way to keep the debt traps inflated.
Gold is currency. It is the only currency that has survived millennia. Yes, the price is controlled and manipulated by those who have most of it. However, the clock is ticking on the dollar as the reserve currency. Remember the pound sterling? Didn't think so.
The looming money bomb will not help. The Chinese have already backed off buying US debt. They now have there own host of problems. Who's left to pawn this crap off on?
It could be six months - it could be six years. My guess is 18 to 24 months the way things are currently playing out. Short treasuries in 2009. Then buy physical gold, bury it deep on your property and prepare for the Amero.
Gold will go over $1000.00 very soon, based upon fear of inflation, and safe haven investing of sums larger than the FDIC can protect. However, we are in a Deflationary Period over the next few months maybe 6-8 months. The dollar will not inflate like everyone is predicting. Gold is not going up in value based upon that. Too many US dollars have been lost. The government can give and print as much as they can, but when Trillions of US dollars have just been destroyed, lost, Madoff with, the demand is still outtaking the supply. I just took 15 grand out of the bank the other day. BFA is still have problems with the transaction. The fact that I got 150 one hundred dollar bills freaked the bank out. It took over 2 hours to get the cash. However I got it, just to have some cash in case of FDIC problems over the next 6 months. I already have large sums of Gold and Silver. I just don't see inflation that everyone is predicting. No one has cash, or credit, then banks have started hoarding cash, and not lending. Thus supply of cash is lower than the demand for it. Throw in the Euro and Pound problems and we have some crazy times ahead with the US dollar.
These times we are going through are scary...good luck to everyone.
$1958.00/oz
Gold at $10,000 to $100,000per ounce. The USD is toast and you will not even be able to put a price on Gold in the dollar.
By 2010 Gold will be valued in some other entity. Get it peoples, we are at US Empire collapse.
Joe M.
Forget gold, the most value will be in clothing, shelter, clean water, hard work, morals, family, firearms, and food.
Gold 1750
Silver 35
gold to silver ratio is 75-1. Traditionally it has been 16-1. That tells me gold is overpriced, or silver is underpriced, take your pick.
$1200
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