Thursday, Mar 15, 2007
Falling gold price means buying opportunities
Money Week: What recent market falls mean for gold
At some point I think the US dollar is going to come under serious pressure and when that happens the dollar and the gold price will decouple, with the gold price rising and the dollar falling. I am actually hoping that the gold price continues to fall in the interim as it only means there will be more money to be made in the longer term.
Posted by sold 2 rent 1 @ 10:53 AM (186 views) Add Comment
4 Comments
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1. harold said...
Yes S2R1, I'm waiting for an opportunity. Markets have calmed today, but the jitters (and slide) will doubtless return soon.
2. harold said...
Yes S2R1, I'm waiting for an opportunity. Markets have calmed today, but the jitters (and slide) will doubtless return soon.
3. sold 2 rent 1 said...
From kitco
"Last Friday David Rosenberg of Merrill Lynch reiterated his forecast for a 125 basis point cut by the end of 2007 and a 25 bpt cut in 2008. Yesterday, Goldman Sachs jumped on the same bandwagon and announced that they were forecasting the USFed to cut interest rates by 75 bpt between now and the end of the year. Gold was ambushed when it encroached upon the $700 mark. Gold will easily surpass that $700 mark when the USFed rate cuts are made clear, especially when the Euro Central Bank continues with its rate hikes."
4. monty said...
S2R1 - I'm as bullish on gold as the next guy but quoting kitco when it comes to buying gold is akin to quoting Hamptons on the housing market.
Buying opportuinities? Jim Puplava says he's "backing up the trucks" and his mates say this is the last time we'll ever see $640 again. I dunno. Gold is roughly the same $ price it was in at least 7 months of the last year. Of course I'll be kicking myself for not buying more when it rockets through $1000 but just think how much has it been talked up over the last few years the same way every other commodity has. Just how much of that is in the current price and how far down has it got to go?