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Holy Bullion Batman! Gold Poised to Hit $900 !

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garybeck Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-11-08 03:11 AM
Original message
Holy Bullion Batman! Gold Poised to Hit $900 !
Edited on Fri Jan-11-08 03:24 AM by garybeck


When gold hit $800 I said WOW, it actually happened.

Now only a few months later it's about to crack $900.

I'm no ecomomist but it seems the sh-t is hitting the fan.

I saw this on Kitco.com:


Most of the G-8 currencies are being diluted with over-printing in an effort to keep them aligned with the U.S. Dollar. America’s dollar is now so cheap this country is essentially for sale. Non-USA nations’ investors, overloaded with dollars are recycling them back into the states by buying companies, commercial facilities and certain shares to off-load decaying dollars. Those dollars are being replaced with real value in form of hard goods, beaten down real estate or, mining-material companies, shares and comparative assets. One USA positive is an increase in exports.

http://www.kitco.com/ind/Wiegand/jan092008.html
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truedelphi Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-11-08 03:15 AM
Response to Original message
1. We just saw an incident in the Gulf near Iran and Bush is over
In the Middle East accepting congratulations from the Israeli Prime Minister for our 30 billion dollars worth of annual subsidies and rubbing the Arab states noses in it - hardly diplomatic.

So I am surprised gold ain't a whole lot more.
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Rageneau Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-11-08 03:26 AM
Response to Original message
2. Poppy Bush joined the board of Barrick Gold after the WH. I knew then that gold was going places
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A HERETIC I AM Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-11-08 07:46 AM
Response to Reply #2
5. Barrick Gold (Ticker ABX) just got downgraded from "Hold' to "Sell"
By the analysts at Standard & Poors. Seems they think it is overvalued.

http://www.marketwatch.com/tools/quotes/profile.asp?symb=ABX
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2hip Donating Member (350 posts) Send PM | Profile | Ignore Fri Jan-11-08 04:08 AM
Response to Original message
3. It'll retrace a bit before it closes above $900
Just my $.02....
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garybeck Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-11-08 12:15 PM
Response to Reply #3
6. I don't know, it's edging closer today.
up $6 to $896 with over an hour to go before close.

I think it will hit $900 and then edge back down for a couple days for profit-takers and then start climbing again.
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whatchamacallit Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-11-08 01:26 PM
Response to Reply #6
7. I'm about to put my toe in water
From all the news I've been reading (much of it here on this fine forum), I'm pretty sure a variety of factors will continue to send gold up. I set up an account to buy gold grams, but I'm hoping for a dip before I jump in and make my first purchase. Truthfully, I don't have a clue what I'm doing :-P
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2hip Donating Member (350 posts) Send PM | Profile | Ignore Fri Jan-11-08 04:25 PM
Response to Reply #6
8. Futures tickled $900 for a quick minute but spot couldn't break it
RSI shows a divergence to the downside so I'm still anticipating a bit of a retrace.




              Edwards '08 tees!
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sandnsea Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-11-08 05:13 AM
Response to Original message
4. I think it'll hit $1200
I don't know where else people have to put their money right now.

I find it funny that so many people say just put your money in a stock market fund and leave it there for the long run. Well the people putting money in euros and gold and oil sure as hell didn't do that.
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lib2DaBone Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-15-08 09:00 PM
Response to Original message
9. $900 ... Buy or wait for Pull-Back?
Hey GaryBeck. Thanks to DUers for the headsup on gold. Im getting ready to buy some. I believe it is going to $2000 adjusted for inflation. I think it will hit $1000 in the next 2 weeks. It did a small pull-back today ($895). Contrarians are saying "wait", as there is going to be at least a 200 retreat before it heads up again. Hmmm.. I wonder? Any investment managers or goldbugs here on DU? :eyes:
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SlowDownFast Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-16-08 01:29 AM
Response to Reply #9
10. Super Gold Bull here.
Edited on Wed Jan-16-08 01:56 AM by utopiansecretagent
Buy now. Don't wait.

Support is around $888 right now, it's been tested several times the last 2 days, so it's not going lower, especially the way the index markets/US $ is behaving - looking crash-like. Whatever rate cuts the Fed/ECB make will only prop up the $ temporarily and make gold go higher. Plus China's doing gold futures now, and they LOVE gold.

You won't see it around $900 again till around June.....if we're lucky.

This next run it's setting up for is going to $1000.

Silver will have a good run, too.

JMVHO.

I bought some more @ these prices.

See this thread:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=114&topic_id=31179&mesg_id=31179
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SlowDownFast Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-16-08 01:14 PM
Response to Reply #10
13. Oh, oh. I was wrong.
New support $876 - what a HUGE fall.

BACK UP THE TRUCK!
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2hip Donating Member (350 posts) Send PM | Profile | Ignore Wed Jan-16-08 04:22 AM
Response to Reply #9
11. I'm sitting on the sidelines for now.
I anticipated a retrace upthread and it seems to be doing exactly that. A $200 price drop is entirely possible. Right now my strategy is to sit tight, wait and watch. FWIW.




  Edwards '08 tees!
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whatchamacallit Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-16-08 10:55 AM
Response to Reply #11
12. Watch closely
Edited on Wed Jan-16-08 11:02 AM by ResetButton
http://news.bbc.co.uk/2/hi/business/7191469.stm

I think this article is right, the forces driving gold up are still with us and are likely to intensify. Be prepared to buy if it looks like it's taking off again.
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Quakerfriend Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-16-08 04:20 PM
Response to Reply #12
14. Thx for posting the article, ResetButton. I think it is SPOT on.
And, btw, welcome to DU:hi: !!
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whatchamacallit Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-16-08 05:32 PM
Response to Reply #14
15. ;-)
It had better be right, I bought during the 5 day surge!!!
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