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Silver at $12 gold at $725, what do you think?
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<p>[QUOTE="Troodon, post: 782574, member: 4626"]There'd be a lot more rich people than there actually is right now if it were possible to predict this with any certainty. In the long run it will probably go up. What it will be tomorrow, next week, next month, next year... it's anybody's guess. Not to belabor the obvious, but gold is an excellent long term investment but a terrible short term investment.</p><p><br /></p><p>If the economy stabilizes and interest rates drop, which it is bound to do eventually (million dollar question is when, not if; neither recessions nor expansions ever last forever) you can expect the price of gold to settle. But even when the economy recovers, people are going to be a little wary... so I wouldn't guess it would drop below $800 or $900 an ounce at the very least. It can't go up forever and to be honest I don't think this is a very good entry point if you're expecting to make a profit on gold in the short term. You don't buy gold to make money... you buy gold to keep the money you have protected against long term inflation. It's an excellent store of value but you shouldn't think of it as an "investment."</p><p><br /></p><p>Jim Cramer (host of Mad Money) wisely said the way you can tell when a stock (or anything else of value) is coming close to a peak is when nobody is telling you not to buy anymore. That means there's no more buyers left to bid the price any higher (because anybody who would ever buy already has), and eventually the price has to move back down. I think it's getting very close to that point with gold; it's probably going to peak very soon.</p><p><br /></p><p>Do I think it could ever be $725 again? Yes. Do I think it could ever reach $2000? Yes. It's just a question of when... and if I knew that, or anyone else did, there'd be a lot more rich people in the world.[/QUOTE]</p><p><br /></p>
[QUOTE="Troodon, post: 782574, member: 4626"]There'd be a lot more rich people than there actually is right now if it were possible to predict this with any certainty. In the long run it will probably go up. What it will be tomorrow, next week, next month, next year... it's anybody's guess. Not to belabor the obvious, but gold is an excellent long term investment but a terrible short term investment. If the economy stabilizes and interest rates drop, which it is bound to do eventually (million dollar question is when, not if; neither recessions nor expansions ever last forever) you can expect the price of gold to settle. But even when the economy recovers, people are going to be a little wary... so I wouldn't guess it would drop below $800 or $900 an ounce at the very least. It can't go up forever and to be honest I don't think this is a very good entry point if you're expecting to make a profit on gold in the short term. You don't buy gold to make money... you buy gold to keep the money you have protected against long term inflation. It's an excellent store of value but you shouldn't think of it as an "investment." Jim Cramer (host of Mad Money) wisely said the way you can tell when a stock (or anything else of value) is coming close to a peak is when nobody is telling you not to buy anymore. That means there's no more buyers left to bid the price any higher (because anybody who would ever buy already has), and eventually the price has to move back down. I think it's getting very close to that point with gold; it's probably going to peak very soon. Do I think it could ever be $725 again? Yes. Do I think it could ever reach $2000? Yes. It's just a question of when... and if I knew that, or anyone else did, there'd be a lot more rich people in the world.[/QUOTE]
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Silver at $12 gold at $725, what do you think?
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