Sunday, February 1, 2009

Gold to soar beyond current expectations?

US should increase its Gold reserves to 107,153 tons

Many gold bugs site the gold 1980 high and say the price today accounting for inflation would be over $2000/oz. However, with central banks holding proportionally less gold than in the 1970's and with the advent of ETF's making buying the stuff very easy for retail investors, perhaps the gold price is destined to blast off into the stratosphere.........???

Posted by shawth @ 01:27 PM (1073 views)
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7 thoughts on “Gold to soar beyond current expectations?

  • Given that the total amount of gold ever mined is 130,000 tons, that’s a fairly tall order.

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  • The 1980 peak was a short sharp spike. You’d have to be incredibly lucky with timing to sell at just the right moment. Even if gold did hit $2000, it would probably be a short sharp spike too.

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  • ETFs are likely to suppress the price of gold, not exacerbate it.

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  • What an odd article. It appears to have been written as if currencies were still backed by gold. It uses the phrase a number of times. The US$ is certainly not backed by gold and neither is any other currency in the world.

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  • sold 2 rent 1 says:

    drewster,

    “You’d have to be incredibly lucky with timing to sell at just the right moment”

    How about 27 March 2010 (plus or minus 10 days eiither side)

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