Are we looking at a drop in gold prices over the next 10 years? http://www.bloomberg.com/apps/news?pid=20601012&sid=ajddFgw1DIzI Dump it baby ..dump it.
I don't know about that but the "Oracle of Omaha" says "buy when everyone hate something and sell it when they love it"... (Warren Buffet)
When every Tom, Dick, and HArry is doing a commercial for gold (going on now) - watch out! And if you're cab driver gives you that as a tip - well that is the sign of all signs to sell.
$D1tt000.00 what elaine said, though that article indicated something to happen around October, let's see +/- ...
I view this the same way I do my 401K, I will only have a decreased value if I sell when the demand is low. Fortunately, nor pending a true emergency would I anyway, I did not sell my stocks when it dipped to it's lowest and now the markets are making a comeback. To me, what the heck does this old lady know, the same will be true of any investment period. So while we may see a decline from time to time it will indeed make a comeback as well. You only lose when you sell during a down market.
Too bad all the people who know how to run this country are busy running taxicabs or cutting hair. George Burns
Clever, and somewhat true, since a large portion of our NYC immigrant taxi drivers are indeed physicists, MBAs, scholars, etc. from other lands come here to make a life and career, yet find they cannot hold titles nor positions of higher authority in this place due to various seemingly insurmountable barriers. I like chatting with the drivers, they are often full of interesting life stories and of strong opinions of foreign policy. :smile
The IMF doesn't actually own the gold they hold. They need the permission of the US and several other nations to sell it, so it isn't a done deal. However, it is no sure thing that the price will drop because that much volume will most likely be sold through a private placement with a central bank that intends to hold it. They aren't selling it one ounce at a time on Ebay.
Maybe my impressions are local to the goldbugs I know, but when gold is high, they pray for the day it is $100-200 less, and when gold hits that, they are afraid to enter the market because it is depressed. Now they are afraid to sell, that it will go higher, but still pray for the day it is $100-200 cheaper, to buy more. My my. Jim
If gold couldn't drop to $850 in the last sell off, it isn't going there next year. Too many new $$$ being printed. Congress voted today to print another $2 billion for the Cash for Clunkers bailout.
I read nothing in that article that was written in stone that the IMF will actually sell off any gold. The article is full of what grampa called weasel words, will probably, could, planned, likely. I doubt that this sort of trial balloon being floated will do little to ease the economic fears of people, after the last runup gold was due for a correction, that it hasn't dropped much tells me that many people are still smarting over the last withdrawal of cash from the stock markets and are not ready to restart the cycle yet.
The IMF has budget problems. The gold sale idea was originally intended to plug the funding gap created by the global economic problems. The sale is no sure thing and isn't intended to ease economic fears.
