As the Obama Administration works hard to eat away at the savings and independence of Americans, there is a way to at least partially avoid being a victim – gold. People ‘in the know’ are passing judgment on Mr. Obama and his policies and it is not pretty. They are moving out of the path of destruction and buying gold.
On the way to $5000?
Silver and copper seems to be doing better this year. The industrial metals are the way to go. Gold does look good on a beautiful woman though.
My problem with gold is that the other metals have not performed as such, creating a very noticeable inter market divergence. It is starting to look a lot like $150 oil when “everyone that knows” was sure that it was going to $300 and above. We know how that ended.
I do realize that one can paint a pretty attractive picture for $2000 gold right now. I just can’t make myself get on that bandwagon.
[quote]dmaddox wrote:
Silver and copper seems to be doing better this year. The industrial metals are the way to go. Gold does look good on a beautiful woman though.[/quote]
Yep. People with money and brains won’t stand idly by while Obama and company make plans of how to spend THEIR wealth.
Bet the libs weren’t counting on that.
“Duh…we can have free healthcare and …duh… pass all kinds of cap and trade stuff, and all those people will just keep doin’ what their doin’, right George? Right?”
LOL!
[quote]JEATON wrote:
My problem with gold is that the other metals have not performed as such, creating a very noticeable inter market divergence. It is starting to look a lot like $150 oil when “everyone that knows” was sure that it was going to $300 and above. We know how that ended.
I do realize that one can paint a pretty attractive picture for $2000 gold right now. I just can’t make myself get on that bandwagon. [/quote]
I tend to agree. There is too much speculation on it, it is too hot. When everyone I know is asking me what I think gold would do; if its a good investment; how would I purchase it, I know there is too much interest. I made a good profit on the leveraged silver fund AGQ this year, but just sold out. I think the US government is going to have to consider raising interest rates at somepoint this year which should result in a stronger dollar and a drop in gold prices. I wouldn’t be suprised to see gold make it to $1500, after that I would have to consider shorting it based on when I think interest rates will rise.
[quote]BigJawnMize wrote:
JEATON wrote:
My problem with gold is that the other metals have not performed as such, creating a very noticeable inter market divergence. It is starting to look a lot like $150 oil when “everyone that knows” was sure that it was going to $300 and above. We know how that ended.
I do realize that one can paint a pretty attractive picture for $2000 gold right now. I just can’t make myself get on that bandwagon.
I tend to agree. There is too much speculation on it, it is too hot. When everyone I know is asking me what I think gold would do; if its a good investment; how would I purchase it, I know there is too much interest. I made a good profit on the leveraged silver fund AGQ this year, but just sold out. I think the US government is going to have to consider raising interest rates at somepoint this year which should result in a stronger dollar and a drop in gold prices. I wouldn’t be suprised to see gold make it to $1500, after that I would have to consider shorting it based on when I think interest rates will rise.[/quote]
Use trailing stops, 10% being usual. The current economic situation is unprecedented and gold could literally go into the thousands. Or it could go to $500. I lean toward the thousands but it is wise to be a prudent investor.
Someday, this paper money will be ‘toast’.
If the government raises interest rates they will bankrupt all the lending institutions they just bailed out.
Does anyone really expect them to do that?
