Thursday, Nov 27, 2008
Citi says gold is going to go to 2000, goldbugs rejoice?
Telegraph: Gold poised to surge
Gold could exceed $2,000 an ounce as the world unravels, Citigroup said. Now citi has said it, what does that mean. Maybe the conspiracy theorists and the gold-bugs could fight it out. Any takers?
Posted by last_days_of_disco @ 08:35 PM (727 views) Add Comment
9 Comments
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1. last_days_of_disco said...
Sorry, I saw this was already posted earlier. Funny, usually you get a warning when it was already posted.
2. last_days_of_disco said...
Sorry, I saw this was already posted earlier. Funny, usually you get a warning when it was already posted.
3. Topper Harley said...
Gold is poised to surge because the first delivery contract for December for physical gold to the COMEX begins tomorrow. The problem is that the paper price of gold (ETFs) no longer matches the physical price.
Which means defaults and a short squeeze.
It's no conspiracy here, just insolvency.
4. digdug said...
Last days...
First you post a duplicate article THEN you post a duplicate comment! Is there anything you dont duplicate? ;-)
5. last_days_of_disco said...
Its gremlins. I blame gremlins.
6. bystander said...
Does this suppose that Citi has a long on gold and needs to make this back as soon as possible? Whats the betting they have it pegged at just over $1000/ounce and they will get out there., or there abouts, leaving the rest who have been lured in dealing with a very volatile arena and the very probable risk of their investments melting away very quickly. Just a thought, but Citi have just needed to be 'nationalised' by the US and are in desperate need of money to keep going as a private entity. Sounds like RAMPING to me.
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