Gold at $1769/oz!

Unbelievably, gold is up almost 130 dollars in the last couple of days! What do you think it will be in one week?!

 

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I say we see $2000 by the the 22nd

 

I think it'll push $1850 and pull back. Silver, $46 and then down.

 

Keeping in mind that this is only a guess, and for fun - not investment, I think gold will stall out below 1800 and take at least a few months of base-building before the next leg up. That would be a healthy sign that the bull market is still intact.

 

gold soars, silvers decouples and heads lower

Well, I guess gold is still the king of metals. Investors still prefer gold instead of silver for financial uncertainty. Gold soaring today while silver tanks below $38.

I was hoping silver could hold $40. We'll see.

 

$1800 by tomorrow and $1900 by the 17th (a week after)

 

This is not good news.

 

Yep. Fear in the market right now. Also Fed's outlook of low rates until mid 2013 means they think things are still not going well, shouldn't be news to anyone trying to make a living.

Welcome in Recession 2.0.

 

Agreed. I fear the upcoming recession in the next few years will be unlike anything ever seen in this country. Scares me.

 

I was going to say that!!

 

Bring it on... no one ever got rich in good times. The time to change your stars is when there is blood in the street !!... do what everyone else is "not" doing at that point in time and you may find you (and your issue) set for life ; ) I say bring it one !! Appears everyone is buying gold right now... hummm.........

 

I'm guessing it will soon dip back to around 1600-1650/oz and then resume its upward march in the fall.
That's if things in the political / economic world stay orderly.

 

Should steadily increase for the short term. I'm guessing it will peak around $1920. people are scared and craving what they see as a safe investment.

 

if by everyone you mean central banks and governments around the world yes? but if by everyone you also mean the average "joe". my friend you are very wrong. the average person has very little interest in gold, even in this state that we are in. Also the price of gold is so high now that it is very hard to buy in, making it a disincentive for "everyone" interesting in purchasing physical gold

 

I predict it will be back in the mid-1600's by next week. Gold rose on the same panic that saw the market tank. None of the fundamentals have changed.

 

In a sense you are correct, but it is also true that many bankruptcies occur by not doing what everyone else is doing during hard times. Hindsight always has a survivor bias that makes it look easier than it is [or was], and those who get rich in this manner always attribute it to their courage and foresight to do what others dared not, and rarely admit they were just luckier than the rest.

 

Personally I don't care what anybody else is doing. It makes no difference to me if what I am doing is commonplace or unpopular because my decisions are based strictly on information. If I were going to base them on how well I think other people can discern information then it's a crap shoot.

 

Gold just topped $1800. The VIX closed over 40. The DJIA was down 500 (again).
What could possibly stop this from turning into another 2008?

 

QE to infinity. If you look at the 5 year VIX it still has a ways to go before getting to 2008 levels.

 

My timing was a little off.