Jump to content
Sign in to follow this  
Reno Chris

Predictions For The Direction Of Gold Prices For Oct. 1

Recommended Posts

Well, October has pretty much come and gone! :)


Nobody can predict the behavior of a government that has a Federal Reserve system run amuck! As the Fed keeps buying bonds, running the printing presses overtime - printing more paper money in the name of Quantitative Easing, gold will not be the hedge against uncertainty it once was.


It WILL eventually have to end. QE tapering is planned for March. My bet is that by May 2014 - there's going to be a real GOLD RUSH!


- Geowizard

Share this post

Link to post
Share on other sites

Gold has had 10 up years in a row (believe it or not gold was up for the year in 2012 - at about $1550 on Jan 1 and around $1700 Dec. 31) This is the first year in a decade in which gold is down over the course of a year.

QE is supposed to be supportive to gold - but it hasnt done much for gold lately, and QE continues at its full, maximum pace.

Gold has gotten to a place where if the signs point that QE is to be discontinued, gold drops, but if the signs make it seem like QE will continue for a while, it doesn't go up.

I kind of agree with Steve that I think gold will struggle over the next year, but I still think we will be moving to new highs in the next few years.

My view is that the biggest factors in the gold price are not QE or the dollar. I think it is gold buying in China and India. This 10 year move upward did not start with QE, in fact the economy was fine in 2003 when gold started its move up. However that is the time frame in which China and to a lesser extent India began to really grow and take a major place in the world economy. Both have gone through an economic slow down in the last couple years. China is starting to recover and I think in a few years as they get back to full steam, gold will start to strengthen.

Just my opinion.

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this