T Nation

Gold: Where's It Heading?


#1

With gold hitting new highs today were does everyone think things are headed? With the amount of libertarians/capitalist on these forums i'm sure that the sentiment is somewhat bearish. Who considers themselves "inflationists"? Who here follows the thoughts of people such as Mark Faber and Peter Schiff? Are we going to enter a long inflationary recession as the Austrians predict?

I really don't know were to put my money right now but I know that I do not want to be holding cash....

Mark Faber at a recent conference - http://www.youtube.com/watch?v=H0sS6a9RW2E

Discuss.


#2

I listen to Schiff. I think Gold is showing a hyperinflationary depression is underway.


#3

Look at our national debt. It is unsustainable and we won't be able to afford it real soon. Rather than the possibility of default like Greece, we have the ability to print out way out of it and we will.

Gold @ 1,400 an oz by the end of 2010 is my prediction. After that who knows. In a couple years, it could very well be at 2,000 an oz.


#4

There are rumors out there that some bank has been selling gold short to keep the price down, with the (criminal) collusion of the London Gold Exchange. Not surprising, but the catch is they've sold short over half the entire world's gold reserves. They couldn't cover their exposure if they wanted to. Theoretically that could send gold to the moon, price-wise. Pretty unbelievable, so I don't particularly believe it.

Back in the real world, I was charting gold just today. I agree that 1400 is a very realistic prediction.


#5

Any new predictions on Gold or Silver?


#6

Unbelievable that this valueless shit rejected by the founders is even hinted at as a value buy. I am buying bottled water and spam.


#7

Down. Down. Down.

Deflation. Deflation. Deflation.


#8

$6000 to $10,000 per ounce is about right. The sweet part will be that we'll have a deflationary collapse where everything else is selling for pennies on the dollar.

Begin selling at around $5000 and buying land, preferably farmland. Imagine prime farmland at one ounce of gold per thousand acres!!

Imagine gold stocks paying IN DIVIDENDS what you paid per shares just a year or two before! (Happened with Homestake Mining in 1934-39).

"Why Many Analysts See Gold Going As High As $10,000"

http://www.marketoracle.co.uk/Article20533.html


#9

As the government continue to print money Gold and Silver will continue to rise, I think at around 1500 or so gold will begin to stall as Silver catches up. Once it gets close to the 16/1 ratio both will explode upwards.

If the EU had been aloud to collapse this year we would have seen gold at 2000 an ounce, but since they plan on stretching the collapse out over the next 2 years we will see gold probably hit 1500 this year.


#10

Currently, yes we are experiencing a little deflation. If it wasn't for the EU gold would be lower right now. Probably between 1000 to 1100 an oz.

Long run when the Fed starts printing money like hot cakes and the inflationary depression gets into full gear, gold will sky rocket. 1400/oz by the end of the calender year and 2000/oz in 2-3 years.


#11

I still believe that gold will see $860 before it will see $2000 (or $1500 for that matter).
The gov has been "printing money" like hot cakes for over two years now and we are still seeing deflationary pressures. M3 money supply has actually been contracting.

I believe HH is half right. I believe we will suffer a deflationary condition until approx. 2016. Then it will be time to buy real estate, stocks and commodities of all types. Why? Because AFTER this period of deflation we will experience a long and strong inflationary period. Until then, the US dollar and T Bills are the safe storage method, providing you are in a safe bank (very few). If you are aggressive, short the S&P 500.


#12


The Great Collapse...


#13

The artificially propped up structure begins to collapse . . .

If they had just let the market self correct and taken the earlier hit it would not be as bad as the one coming down the road now . . .


#14

I agree with this, but man in that moment there was nothing that could have changed the thinking of the people until the government put all that money in the market. Hindsite will be 20/20. I hope you are wrong about what is going to happen in the future, but I am on board that it will happen. Buy fixed assets. I am putting the bulk of my job money in Real Estate paying monthly cash, and using that monthly cash to buy precious metals.


#15

"There is no better analogy to a system-wide credit binge than a person who keeps going only by gulping down amphetamines. He will collapse if he stops taking them, but if he keeps taking them he will ultimately die." - Robert Prechter

Bankers choose to die later.
And the collapse has already begun, ... we are waiting for the crash.


#16

$1280 by end of next week ?

I like the amphetamines analogy.


#17

Every system of fiat money eventually results in chaos. The time is coming when everything will be priced in terms of precious metals (pm) instead of currencies.


#18

I'm so happy I own gold and guns and I know how to hunt.