The Phaserl


Could Gold Surprise Us All?

from Gold Silver Worlds:

Let us be honest here for a second. Almost every Wall Street Strategists has been expecting Gold below $1,100 this year and even below $1,000 next year. Every trade has been positioning for the breakdown below the all important support level of around $1,200 per ounce and gross shorts are currently at very high levels. Every media outlet from Bloomberg to CNBC has been talking about how much of a poor investment Gold has been. Many sentiment surveys, including the Daily Sentiment Index, reached record low levels on the recent decline. Even I have been expecting prices towards a $1,000 physiologically important support level.

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10 comments to Could Gold Surprise Us All?

  • chris

    No. Gold could never possibly surprise “us all”… especially if it goes up or down. (ugh!) Not much of a premise for an article.

  • Eric

    Gold is going to $3,000/oz. and beyond. Just not tomorrow.

    • Aurora

      $3,000/oz. would be reasonable. When they talk about 10,000 and above that sounds scary. Scary because it would be very hard to afford.

      • Eric

        Pretty much impossible for the average person, which is why I prefer silver.

        It’s going to get scary. It already is. I’m just blown away by how oblivious everyone is.

        $50,000 isn’t impossible. Unlikely but not impossible.

      • glitter 1

        “When they talk about 10,000 and above that sounds scary. Scary because it would be very hard to afford.”

        Gold at $10,000 will most likely exist in parallel with the bankrupting of the Middle Class as we know it today.The eventual price/purchasing power will only be relative to the prevailing circulating currency of the realm at the time.

      • Ed_B

        We should keep in mind that 100 years ago, gold was $20.67 per oz. If it is now about $1200 an oz., that means that it has risen by a factor of about 58 times. Anything that has already happened once certainly can happen again. It is not guaranteed but it IS possible. Were gold to do this again, it would be priced at almost $70,000 per oz. And it matters not one bit about whether or not it will be affordable at that price. All that matters are the fundamentals of gold itself and the amount of chaos that exists in the financial world. If China, for example, were to build a HUGE gold hoard and thereby assume control of gold pricing, would it not be in their best interest to have gold priced as high as possible? I believe that it would.

  • Tony

    Yeah, it could surprise us if it went up more than one day before falling again. I’ve been in gold since 2003 and it is the most depressing investment on the planet. Gold stocks make you want to commit suicide. Nothing worse than gold stocks in the known universe.
    The paper kings own these pm markets so we’re left with the hope that China or Russia will back their currencies and save us. Fat chance.

    • Eric

      Yea the digital paper is depressing.

      But the shiny metal coin in your hand isn’t.

      I told a buddy 3 years ago that all the gold in the world isn’t going to save you from what’s coming.

      It’s not a time to take risk. it’s a time to protect what’s most important to you.

    • Eric

      The average gold price in 2003 was $363.38

      You’re still up 330% since then in dollar terms.

      Just think if you lived in Russia. You saw gold go up 50% this year against the ruble. Or in other words (truth), you lost half of your purchasing power against gold.

      Gold stocks are investments. Coins are savings or money!

    • glitter 1


      Patience is a virtue,I’ve been in Gold and Silver since 2001.My Bullion Coins are up 200%+ even since the bear market took hold,my shares are down 7 figures at this point.Is it depressing? sure it is,but I’m absolutely convince today just as when I bought them,they will beat the Dow and S&P,it’s only a waiting game at this juncture.If I think Gold will go to at least $10Koz and Silver to $250oz and I do think it,what will my shares be at that point!If they were worth 7 figures in 2011,what will they be worth when PM’s rocket past that point!All those Hedge Funds/Bullion Banks that are mega short Bullion and the shares now will be falling all over themselves to buy long when the climate swings the other way.

      “The only thing left standing in the end will be Gold,Silver and related items” – The Late Robert Chapman

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