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Steve Herschbach (Inactive)

$1000 Gold Within A Year?

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Gabby one this morning, geo, that's more like it!


Why is the general over-all interest in the gold sector so low right now?


The spot price cares not about business plans, foreign soil, government controls, or anything deritive orientated.


Direction of movement seems to be affecting sentiment more than logic or profitability.  Can we ignore emotion?


The why of low interest in gold is a ponder.

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This has all the trimmings of a bear raid.

We will know for certain in a couple, three weeks or so.

The question folks should be asking is, "Cui bono". Who benefits?


Why is this a bear raid?

Look at the fundamentals. This is basically supply/demand and the price point PMs should be at.

Then look at the technicals. This is emotion-driven market activity. Homo sapiens is a herd beast. The more the price drops, the more the dumb beasts sell at a loss. Yep the fools get eager to lock in their losses.

Already there is a reported shortage of junk silver coin available for delivery at the spot plus premium.

Fundamentals alone would deem this impossible. BUT ...


We have a futures market filled with herd beasts eager to follow the leader into penury.

As the tide ebbs, we get to see who is naked.

Now factor in the acute level of leverage.

A drop of a couple percent here, a couple percent there and Joe Herd-beast gets wiped out in margin calls.

These losses feed the selling frenzy.

Most of these losses are confined to paper gold.

I'm not a financial adviser to anyone except myself.

Now would be a great time to add to the stack.

How many times do you get dealt such a buy-low opportunity?

Do your own due diligence and quit your whining.

Some of us have seen our asset's market valuation drop by 40% and 70%.

But an ounce is still an ounce. I decided long ago to quit booking losses.


I'll leave you with this question, "How many producing gold mines have shut down due to current prices?"



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Gold does seem to be holding in there at prices close to $1200. However this is having a big negative effect on many mining companies as more than just a few are producing at a cost very close to $1200 per ounce. Layoffs and other cut backs are happening in the gold mining industry right now.

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Fast forward two years;


Predictions anyone? :)


- Geowizard

Yeah, here's my prediction,  gold could possibly move higher in the near term with news out of europe, but it is 

going to be lower in 2 years and work it's way much lower, around $700 or lower with the crash in the stock market which will come

sometime in the next 10 years. People will lose so much wealth it will force gold down. The government & fed will panic and completely 

destroy the dollar with the fed buying all the bonds the government will issue with journey entries. We are on the road to Hell.

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