WOW! Gold is going to hit $1300.00

[grubstake]

I think Gold will hit $1300.00 before the week is up. already this morning at $1274.60 Grubstake

[JimGilmore]

I think Gold will hit $1300.00 before the week is up. already this morning at $1274.60 Grubstake

Hit or stay ?

the two are different...but we shall see

[grubstake]

I think it will hit, come back down maybe to $1250.00 and hang for a week and then top out above $1300.00 and stay for awhile. Grubstake The dollar is not woth anything right now, I fact, its going to be like it was in Germany after the war, you will eed a wheelbarrow full to buy bread. Grubstake

[homefire]

Hell, Silver is over $20.00.......

[Reno Chris]

I dont think it will hit $1300 this week, but I dont think its too far off - maybe next week.

Went out and bought some gold a few days ago, glad I did.

[Ridge Runner]

Grubstake

What in the world are you doing on this forum when you should be out there hunting for that 10oz. nugget.Now if you need somebody to dig for you just let me know.

Maybe if the 4500 will come down in price you and I both can have one.Minelab is or should lower the price on the 4500 if they will ever sell now.I don't see it with the price so near to the 4800 and 5000.

Chuck Anders

[grubstake]

Well Chuck, been taking care of my wife, she had sugery last week, tomarrow I go down to the VA, for a blood draw. After the weather cools down a little more and I get all these darned DRS. out of the way, I'l be detecting some. Grubstake

[Ridge Runner]

Gary

I forgot that your wife had to go under the knife.I don't think you had said anymore about how she was doing.You take care of that girl because she'll be taking care of you when down.

Like I told a friend one time if they were to part us out they couldn't get one good one.

Chuck Anders

[grubstake]

Yeh, your right about that Chuck. by the way, I have no problem getting on Bills Forum. all ok. Gary

[Ridge Runner]

Gary

It's working for me now but the time before this it came up as Nugetshooter Blog.

Thanks Chuck

[grubstake]

Your more than welcome Chuck. Grubstake

[ARGONAUTE]

My bet is it will be 1320-1340 by christmas.

[JimGilmore]

My bet is it will be 1320-1340 by christmas.

Sigh limited income, stuck watching my mom lose her mind and i'm getting poorer each day.

[ARGONAUTE]

$US1275.90 today, up 7.20

[JimGilmore]

Gold like real Estate will undoubtable go up in price. How high,when and will it stay there is subject to different speculations.

Only two things that You can guarantee will go up in price over time.

[Hollywood]

Gold like real Estate will undoubtable go up in price. How high,when and will it stay there is subject to different speculations.

Only two things that You can guarantee will go up in price over time.

And I think its bubble will soon burst , I would be selling now if I had any . People thought homes would never stop apreciating , but now they can;t sell em .

[JimGilmore]

And I think its bubble will soon burst , I would be selling now if I had any . People thought homes would never stop apreciating , but now they can;t sell em .

True you cannot sell today..but in five years It will still be higher than it is today.

If people would not push the price to unacceptable prices. They would not have been so high but well...Greed does cause problems in the short term..

I had a friend whom sold his grandmthers home in 1987. It was not a very good neighbor hoob but it went for 148,000.

Original cost of the home that his grandmother bought in like 1930 was $4000. So in 57 years they made 144,000. Not fantastic but still more than I got.

[tool]

And I think its bubble will soon burst , I would be selling now if I had any . People thought homes would never stop apreciating , but now they can;t sell em .

in my opinion we are not close to seeing the top for gold or silver with out some kind of unforeseen drastic world change i think that we will see $2000 gold as for when ill stick my neck out and say with in 4-5 yrs if not sooner and i also say there's a very good chance silver is going much higher along with it just for the simple reason that it is the poor mans gold in terms of investment. as far as the so called housing bubble burst it happened but but the money people acquired large amounts of property and as time will show they will before long will be worth much more for the ones that acquired or kept property

[Reno Chris]

It’s exciting to see the strength in gold prices, especially for someone who own claims with potential for commercial mining, because the higher the price, the higher the potential (see My Nevada Gold Mine). One would think that at this price exploration companies would be bursting with cash and drilling for gold everywhere, but it just aint so. Venture capital for mining exploration is still hard to come by unless you are sitting on a "sure thing" that’s already been tested. It’s going to take higher prices than this before exploration gets going again in any serious way. Not to mention also Silver is sitting at roughly $20.50 per ounce and doing better than gold recently on a percentage basis (for those of us with gold-silver properties ).

The problem with virtually no exploration money is related to our bad economy. A few years back, money was tossed around far too freely and now we are paying the price for it. The same banks and investors who were too free with their money are now way too conservative. If they have any money left after the crash they are only willing to invest in government bonds and other secure instruments. Exploration capital is very high risk money. You can make millions, but it’s more likely you will loose all you put in. Gold and silver will have to reach prices higher still before new exploration money starts to pour in. It will take time but gold and silver will continue to move upward until new supplies are created. They will move up and down in fits and starts, but the overall trend will be up.

Banks only want to invest in the very safest customers – ones who probably don’t need the money that much anyway. A few years back you could go into a bank and tell them you were self employed and made a million dollars a year and they’d loan you whatever you needed. People who buy property now will need to sit on it for many years to make any profit. Short term property “flipping” is ancient history.

Everyone right now is afraid – businesses who have seen their incomes drop and had to lay off folks are holding back to ride out the storm. Consumers who have seen friends laid off and know things are bad at work won’t buy goods they don’t absolutely need, banks who have lost millions on bad loans wont loan to people who actually need money they only loan to the solid gold customer with plenty of assets to back up the loan. The only organization with gobs of money to toss around in every direction is the federal Government and that is only because they are manufacturing money out of thin air. Investors who still have money want the safest thing they can get. One of those is US bonds, but another is gold. Some investors are worried by the fact that most of the world’s governments are printing money like mad, and that eventually the piper will need to be paid. It’s a fact that if there are 100 trillion total dollars in circulation and the government “manufacturers” 10 trillion new dollars, the value of all the dollars you own just went down by 10%. People don’t see that, but that’s how inflation works to reduce the value of your cash. Inflation is exactly like a tax. The government needs to do it because it can’t afford to pay back its loans. One answer is to inflate the dollars and pay them back after 30 years with dollars that are worth the equivalent of 25 cents compared to the dollars that were borrowed.

The defense against inflation is to own hard assets rather than cash. Since real estate as a hard asset is a poor choice right now, the best and most liquid hard asset alternative is gold. Residents of many developing countries like China and India have no trust of banks (based on past history) and prefer to keep their assets in gold or silver. Success and growth of business in those very populated countries is also contributing to the rising gold price as business owners who have newly generated wealth put a large percentage of their assets into gold.

Here is what I think is going to happen:

Gold has steadily outperformed the market for years, yet it’s still comparatively little owned, and little discussed outside of crazy gold bugs like us . The average guy out there does not own gold right now. The big movers now are hedge funds, governments and a few very wealthy individuals. It will continue to outperform for the next few years and move upward and correct back down, but overall clearly upward with upward moves larger than the down ones. Eventually gold will be seen as a sure thing that NEVER goes down significantly, just like the housing market was a few years ago or the dot com internet stocks were in 2002, or like gold was in 1979. Once everyone sees it as totally safe and a “sure thing”, the average guy will get into gold and silver and a bubble will form. If you pay attention you will be able to see the big bubble. Everyone you meet on the street will own gold and know what that day’s price is for gold. Thousands of new guys will be out panning and prospecting for gold in the hills. At that time money will also begin to pour in for new mine exploration. Small mining company stocks that sell for 10 or 20 cents a share now will sell for $3 to $5 dollars per share. At the height of the bubble the gold price will move almost straight up - it will go up $20 to $50 every day for weeks! I am guessing at the top of the bubble we will hit a price well above $2000 per ounce, maybe $2500 or even higher. That bubble will form and pop a lot faster than the housing bubble, more like a stock bubble or what gold already did in 1979 / 80.

I think we'll get to around $1350 this year, and I heard a prediction of $1500 in 2011 the other day, and I can believe that. Maybe in 2013 we will shoot up to $2500+.

Just my speculations, but you heard it here first.

- Chris

[ARGONAUTE]

Sure that could be a very likely senario.... but gold though is not a renewable resource, just like your Helium or your rare earths. Gold can be recycled, but really it's still a finite resource. That's the crunch point. Gold is used in electronics, as currency etc etc. It's extracted it's utilized, bought and sold, but it is all but utilized in our daily demand. I think the inflation is actually disguised. It will cost more to find and extract in the future, particularly in countries which are already mined (*excluding the new rush countries*)

On the other side, mining resources, such as tailing dumps are now having new calculations poured over them, since the profitability has changed. Those tailing dumps which have amounts of gold ore which were either marginal, or not even worth extracting, several years ago are now profitable. The important point here is that this is not exploration. The location, size and amount of gold in those dumps are known, plus or minus a few 1000 ounces, so to say. This is not going to flood the market though.

[JimGilmore]

While I'm not suprised. I think the rising price is still well within it's expeected increase. I do hope the recent rise in price does not cause other to take the piles of dirt that i say hold well over 32,000 worth of gold in them. I plan to spend the next 20 years recovering it.

[Uncle Ron]

Here's a quote published by Kitco today:

“They all but confirmed (quantitative easing),” said Zachary Oxman, managing director of TrendMax Futures. “That’s extremely weak for the dollar and very strong for gold, as you saw a big spike up through $1,290. I think we see $1,300 before the week is out and I am still thinking of $1,400 to $1,500 by year-end.”

Cheers, UNc

[LuckyLundy]

I went out for a short morning hunt and all I could scrap up was a Subway footlong, chips and soda worth of gold. Maybe tomorrow Steak & Lobster! Until our next hunt, I love it!

LuckyLundy

[ARGONAUTE]

If you could only do a Subway footlong, chips and soda worth, what did Mrs Lucky do??

[LuckyLundy]

Argonaute,

She had a Doc's appt early this morning. She is ready for tomorrow though...wish me luck!

LuckyLundy