Anyone ever listen to Harry S. Dent Jr. on finances? He says that gold is gonna drop to maybe as low as $700 and maybe even lower. Check out the video, from say 3:20 to 5:45. He also says that we have an artificial economy happening right now because of all the QE that our gov't has been printing. I can't argue with that b/c that's obvious, how about you? Are any of y'all buying gold or are you gonna wait until it drops down a bit more? Do you think he's right that gold will drop or not? What do you think?
kind of a contradiction. if we have an artificial economy, and those dollars are valueless, and are devaluing, it will take more of them to buy an ounce of gold. my guess, and yes it is a guess just like any and everyone else's, is that it will never drop below 1000 again.
I think if it ever went back down to $1000 again, We would see an even bigger demand from countries like China and India....they never missed a beat when gold hit the $1200 mark......$1000 would be a steal for them at that point. As for me.....I have not slowed down in my purchasing of gold......I`ll gladly take it at $1000 too.
Yes I would take if for a thou myself but could you imagine if it went all the way down to $700?? Wow!! Sure Dent is just another opinion in a line of thousands but he makes alot of sense to me. No, I am not trying to get anyone to go along with his opinion. I simply bring him up for discussion cause in my opinion, he's one of the most controversial.
As one of the more bearish people on this site, I can say that even I don't buy what he is selling. His logic does not seem sound to me. I do see Gold going lower, But not for the reasons he is stating and not nearly as low as $700.
Like Mike said, I think it'll go down some but not for the reasons in the video. Is $700 too far-fetched a stopping point? I don't think so. It hasn't been all that long ago that gold was well below that number, so theres no reason at all it couldn't go far below his predictions.
Well good, at least we agree that gold is gonna go down a bit more. I looked at the video again just to make sure I heard it correctly. He said in the next decade gold will go down to $250. Watch the video at approx 5:40. Amazing!! Will we see it happen? Who knows?
Dent has been a mega-deflationist for years. others are always calling hyperinflation. take your pick.
Let`s just say that his prediction of gold going down to $250 holds true.....We would be able to own contracts around that number.....sure, BUT, would We be able to purchase physical gold for anywhere near that mark? No. The refiners have already laid-off people when it hung around the $1200 mark. (Assuming that they are honest when they say that their cost to refine a troy ounce of gold is roughly $1100.) Most of the investment firms have already played the "gold is dead" card for a year now, and it is still over the $1200 mark. Idk if Dent is just looking for publicity/attention by saying something so outrageous, or if he is an actual bona-fide flake.....either way this guy here pays him little mind. (other than random links posted by fretboard)
Howdy folks, I actually like Dent and have read his stuff for years. And he's been spot on about a lot of his macro-economic forecasting. That said, I've disagreed with him for years on gold and silver and still do today. I played the Hunt Bros and I've been playing the present bull market since late '02. He and others have been predicting the demise of gold while I've been making money. Warren Buffet is a smart man but he sold his silver stash before it went up. feh. First off I believe that everyone should have some small percentage of their wealth invested in physical bullion of some sort. 5-10% - whatever you're comfortable with. More than this is speculation. Speculation is OK, as long as you recognize it as such. I buy mostly silver on a regular steady basis with mint products. You could call this Dollar Cost Averaging and is probably the best way to invest for the long term. I also bought some extra bullion starting this past November/December when the price dropped. I bought some pucks and my annual tube of ASEs and annual foreign silver bullion that was available. As the momentum started for both gold and silver I started to adjust my portfolio to bring in a little more silver, albeit in paper form. Added to my core SIL holding, bought some PAAS (pays a dividend) and grabbed a couple of penny miners in ASM and MGN. I've scaled in twice and am looking to add a we bit more. What you need to do is to turn off the volume and stop listening to the talking heads and just watch the tape. Watch Captain Price and make your decisions about what is really happening. good luck, rono
