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MisdemeanorRebel
2011 Dec 14, 11:34am
This article is actually arguing for a gold rally, by virtue of contrarian investment ideas:
We haven’t seen any such seasonal strength this year, needless to say. But gold’s seasonal tendencies are yet more evidence pointing in the same direction as contrarian analysis: Gold is due for a strong rally.
Personally, I think Gold has had a fantastic run, but I wouldn't say it's the early 80s all over again. There lack of trust in financial institutions and government seems to be running very high these days.
That being said a correction into the $1300-1400s wouldn't surprise me, but we could just as easily see a run up to $1800 and beyond, particularly come February after the Holiday Cheer wears off...
uomo_senza_nome
2011 Dec 14, 11:40am
Personally, I think Gold has had a fantastic run, but I wouldn't say it's the early 80s all over again. There lack of trust in financial institutions and government seems to be running very high these days.
completely agree.
we are far away from the manic parabola phase.
although you never know what the future state of monetary system could be; given that the only solution for foolish politicians is print, print, print.
See this: http://tradewithdave.com/?p=7173
And then there's FOFOA's inverted waterfall theory: http://fofoa.blogspot.com/2009/12/gold-ultimate-un-bubble.html
I think it's wise to save in gold, you just have to be careful about entry/exit --as with any asset.
MisdemeanorRebel
2011 Dec 14, 12:01pm
I think it's wise to save in gold, you just have to be careful about entry/exit --as with any asset.
Nice links. Thanks Spaghetti Western Man.
I particularly enjoyed the FOFOA bit about Gold being an un-bubble.
TMAC54
2011 Dec 14, 1:10pm
Last I heard Gold cost $1100 per oz to produce.
http://www.miningweekly.com/article/what-does-it-cost-to-produce-an-ounce-of-gold-2009-03-16
uomo_senza_nome
2011 Dec 14, 2:09pm
I particularly enjoyed the FOFOA bit about Gold being an un-bubble.
If you haven’t read FOFOA, then you haven’t been into “the matrix†of gold :)
His posts on hyperinflation are the best I've ever read.
It couldn't happen.
It wouldn't happen.
Guess what...It Happen!!
The gold bugs are throwing in the towel
"As a result, contrarians detect a very strong wall of worry forming in the gold market, one which could very well be the springboard for bullion rallying into new all-time high territory. "
http://www.marketwatch.com/story/the-gold-bugs-are-throwing-in-the-towel-2011-12-14?link=MW_story_popular