I am moving my timeline for gold's appreciation. I think we will see it build a base for the next few weeks. Gold will stay in the $1650 range until mid to late October, before it moves back to its recent highs. Then come late October we will see a move to $2,500 before the winter solstice.
We will see huge demand moving into physical with the Indian wedding season, as well as continued bullion demand from everywhere. The price will be at $2,500 in late December, and will likely consolidate at $2,200 in January and February. Then next Spring will see the move to $3300, and I think $3,300 is a very magic number for sentiment. I believe once the price is at $3,300 the status quo will have changed and most people will begin to invest in gold. That is why I think the move from $3,300 to $5k will be quick, and the move from $5k to $10k will be quicker. I think we will be at $10k by the next Presidential election, most likely assuring Ron Paul victory, even if he is written in.
Hi Lennon,
ReplyDeleteThat sounds great for physical holders. Do you think other metals will come along for the ride, in particular silver and platinum? Any guesses as to where you see there prices by year end? Also, where do you see oil at year end?
Thank you,
JM
I am unsure about platinum right now. The price moves to me do not reflect the market. I am not sure what has caused this, other than industrial demand, but if industrial demand improves then platinum could begin to corrilate closer to its sister metals.
ReplyDeleteI will leave silver and oil to another post, but I still have the same feelings about the dollar, that it will be a loser to inflation etc in the coming years, and since oil/silver trade inversely, they will benefit.
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ReplyDeleteTo add I think silver is the most attractively priced, gold is the safest play, and platinum has great long term value concerning appreciation.
ReplyDeleteCrystal ball gazing at its finest.
ReplyDeleteDoubling down on your calls. .lol.
If Europe or China implodes, metals will tank.
ReplyDeleteAnon, I called for a flat market over summer. I think it did better than that. All trends still in line.
ReplyDeleteAnd if the markets implode gold will need to be leveraged. Enough said.