Will the spot price of gold hit 1400 and if so state by what quarter of the year. If not then state what level you think it will drop to.
This was posted two weeks ago, the level of gold was higher than it is presently, however, can gold hit $1400? Sure, why not.
Here is a link, if you can to be updated daily on the activity of gold.
the foreign exchange market or spot forex market is not what you sit and predict,but to give you my view
NOTE- the euro-usd ,gdp-usd pairs control the GOLD price
but for now this pairs are are down but will move up soon.
when they go up GOLD price will go up.
gold price is trading between 1120 region presently but any thing can happen a FUNDAMENTAL news can push it up to 1400 region.
but one cant just tell the exact time,you judge my the daily,weekly or monthly trends and the happenings in the spot market
I agree. The price is gold or any financial vechicle is not an exact science. We cannot predict exactly when it will go up. All we can do is follow the price-trend to see in which direction it will go. I treat it like a channeling stock. I buy when the market fall and it when the market rise.
yes, but we can SPECULATE. Without speculating you can't make a good judgement on whether to buy in or sell off. Yes i've also noticed the tendency of gold to go high when the dollar sinks as people shift from dollars to more tangible commidity assets or equity stocks.Probably because its the standard currency for trading commodities and settling debts. When the euro took a hit this month on the fears of Greece defaulting the dollar jumped and gold fell in dramatic fashion for the rest of the month until today when the trend reversed. Just wondering if anybody thinks that trend will continue. I'm sitting on a few Kruggerands and American eagles right now so the price in the long run concerns me.
I'm no expert regarding the behavior of the price of gold.
All I know is that it is often used as a hedge against inflation, and that, as you stated, when the dollar goes down, it tends to go up, and vice versa. I will offer this: That you check out the StockAdvisors website and see what they (various brokers) have to say about this.
I wasn't asking for a definite answer just opinions or speculations on ,if anyone thinks its possible and if so by what qaurter of the year they think it would be most likely. I beleive it will jump back up past the 1200 dollar highs and surpass slowly to 1400 by mid summer otherwise I would've sold off at the high and cashed out on a few gold and silver coins i've been holding onto until I needed cash but i think ill hold on a while longer.
As they say in politics: "I'm not in the business of making predictions". Like the Turtles, when it comes to trading, price is King. It is the only thing that matters. I go with the trend.
Thanks fellas, sounds like you guys are cash traders which i am not. I couldn't deal with the daily ups and downs. i'd get a massive headache. lol
I would be most cautious now in investing in gold. 3 years back was the prime time to do it really.
Same here I would be very cautious now in investing in gold as it seems very high right now. I think it is better to invest in some good euity stocks at this moment and try pick up some good stocks.
I personally prefer mutual finds and invest in a systematic investment plan and that way you do not have to manage actively. Passive is the way to go.
agree, few years ago was a good time to buy gold.
I would have said that too a few months ago but as the end of 2009 came we seen every central bank and country make a run on building their gold reserves. Back in November when India bought 200 tonnes of gold it sent the market into a frenzy and it went over $1200 an ounce. If the dollar continues to weaken then gold will continue to rise. I personally think we are in a new gold rush (just wrote a hub on it) and some are predicting that gold can even rise over $3000 an ounce or more over the next 5 years.
I think we're going to see a bull market on gold until the total amount of US currency currently in circulation decreases. And with the trillions of dollars being spent in Washington, I don't see that happening anytime soon. Invest in Gold ETF's.
microeconomics are what youre talking about . macroeconomics give a larger view over longer time based on gdp numbers, cpi, employment numbers. Warren buffet didn't invest in railroads on the short call. and gold contracts can be traded out as far as two years i beleive so there are some who speculate on the long call. And if ya got enough money you CAN will the market; just ask george soros when he tanked the asian economies. Now i'm not talking about will'ing the market since i've got a small hanful of gold and mostly silver coins. I'm just asking for some guesses. play along, i'm not holding ya to it . it's all in good fun. just a guesstimate of what you think 2010 market directions looks like. Anyone got an opinion ? high or low - black or red
Alabama or Texas?
by what quarter will Alabama have this one clinched?
I'm not a fan of either team but I'll take Alabama with a sizeable lead by the fourth quarter and texas kicking field goals near the end to get within 10 but never having a chance
6 1/2 point spread. anyone wanna speculate. anyone wanna take those odds. No money of course. I don't know thier fundamentals well enough other than best defensive player of year and heisman running back. No takers.
so what would be ( just a guess) of where you think the price will drop too or r you just saying it will rise slower than the equities this year. in other words r you saying the commodity bubble might burst or not ,or stay stagnant but steady at current prices? Actually i was hoping to get some numbers just in good fun but i'm thinking i might be coming across as a spammer.. i assure everyone i'm not. it was just a hypothetical question but i think rawlus is right 3 years ago was the prime to get in if you were gonna get in , which i did. I only have 5 gold kruggerands and about 15 silver coins and bullion bars so i am a smalltime poor man investor. I bought when it was about half the price ,so it was worthwhile. Again just a hypothetical question based on curiosity more than for investment advice but thanks for everyone participating even though i couldbnt get anyone to make an off record prediction.. oh well !
my prediction ; $1250 by first qurter and hitting 1400 by midsummer.
i also see crude jumped the 80 dollar mark on the first trading day after new years.. so thats interesting ,if not scary unless you own oil futures.
anyone else wanna make a prediction on gold - i'm thinkkng most gold investors don't mess with the forums anyway! too busy making real money in the market than to mess around at hubpages.
any poor mans predictions or amateur investors ?
I think we will see gold north of $1400 by the end of 2010. The run up in gold is a corellation to the increase in many other commodities and is more of a comment on the predicted devaluation of the dollar then the increase in value of gold...in other words...when the dollar is falling gold will go up even if its intrinsic purchasing power stays the same.
Another saying about investing goes something like, when everybody's buying, it's time to sell. Just a bit of contrarian opinion to stir the pot.
I'm not expert in gold. It could go up to 3000, but conversely, it could drop back to $600. But that is probably not going to happen in the course of a few months, so let the gold rush boom!
Don't chase gold prices at this point, wait for a pull back or you will get burned.
If you look at the charts, gold will likely consolidate for a good portion of 2010. It could resume the rise after this.
Could it form another counter trend?
Sure it could but this is tricky to predict.
It could hit 1400 but this would be very speculative.
Now why 1400?
I think the best way to play gold is to play the gold miners GG, NEM, or ABX. You might even try other metal miners like:
FCX, or RTP.
I wouldnt speculate for gold to go up.........
but I would speculate for gold to remain high.
You should always think that gold is moving up, as long as the economy is climbing back up. Are you wondering because you want to buy gold?
you can check the trending about gold. Gold always growing up around at least 16%
gold keeps growing but may fall suddenly in between mean all your investment will meet a great loss too know...whats the assurance that gold always keeps growing..
As the World remains unstable which it will GOLD will remain strong
$1400 is a modest guess. From what I have been reading, Gold could far exceed that. If you look at the current gold price and weigh up against inflation etc, gold is rather low, comparing to previous bull runs. Extremely low. I believe gold might be nearer to $2000 (maybe not 2010). Now is a good time to bet on the gold price over a 12 - 24 month period.
I am not an investment expert and am not actually in a position to invest but merely an interested follower of financial news.
Speaking of consolidation (Just reading over OP). Why I say 12 -24 month bet is because of the consolidation in the larger scheme. As the effects of bailouts and private sector tightening are not yet fully realized, the world economy is on its way to a plateau. More than likely a sustained bull run will occur at some point in the near future but sustained only for the mid term. It is still a risky time in a lot of sectors but there are always gains to be made. Like OP says about buying down sell up. Basic traders skill.. My guess is that over the next 12 months there will be a general positive vibe but amongst a lot of negative news. US stocks and currency will be strong. Once it looks rosy again, sell. The next dive will be at least as painful as the last.
I look at gold this way. It has been an incredible investment over the past couple of years.
Right now people are buying into dollar devaluation guide to the commodities market. You can also read the predictions made 6 months ago by traders and market analysts for $2000/oz gold by the end 2010. The first two sentences in this paragraph don't appear related but they are. The market is not following the prescription for $2000 gold by the end of 2010.
So does this mean that the dollar value and gold are unrelated?
No, I am not saying that. They do have a relationship. The problem is that people cannot fundamentally put a value on gold. It is not valued by us. Furthermore, gold more than just any other material has less of its worth depending on actual industrial use. This means that we cant put an easy metric on it either.
The value is put on it by those who trade (buyers and sellers). The market makers are big countries. I can tell you right now that the retail players (us small investors) do not have a good fundamental way to put a value on gold.
We can see a market psychology by looking at the charts. Right now the gold market is lazy. It is consolidating and not winding. It needs pressure to go up but it does not need pressure to capitulate. That is why it is risky to invest in gold right now.
I also hear others talking about the cup and handle pattern. That is shallowest cup I have seen.
Can gold hit 1400? Yes, it is not too far away. Will it? That is another question? Now to your question when and how much........People who are paid an incredible amount are wrong so what makes us think we can be right. That is the way money is lost in all trading and that is trying to be right instead of being careful. If there are solid trends, I would say that it would be all right to take advantage but the current trend is flat.
Gold was $1222.00 in December 2009 and $1254.60 as I write. That is not much of a trend. Yes you can find other trends depending on where you start but let me warn you that you want to go peak to peak valley to valley and see if you have an upward slope.
Long story short.......Don't take up any new gold positions because the market is too risky. There are other places to put your money.
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