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Gold Bears Predicting The Price Of Gold
The Market Oracle ^ | Dec 29, 2010 | Darryl_R_Schoon

Posted on 01/01/2011 2:41:10 PM PST by An Old Man

Bears are by nature cautious and while caution can be an ally, it can also be fatal where bold action is required.

It is understandable that investors who believe in paper money and paper-denominated assets do not understand gold. Gold, after all, is the natural refuge of disbelievers in the current financial paradigm; and, as today’s credit and debt-based paper markets come under increasing pressure and gold moves increasingly higher, most “paper bulls” remain increasingly perplexed.

In October 2009, when gold had again breached the $1,000 level, investment advisor Chad Brand warned investors not to jump onto “the gold bandwagon”. Unfortunately, for Mr. Brand’s clients, it was the time to jump—and still is today.

From Chad Brand, Seeking Alpha, October 7, 2009: http://seekingalpha.com/article/165317-gold-prices-a-familiar-trend

Here is a 35-year chart of gold prices. Based on what you see, would you want to jump onto the gold bandwagon?...I am bearish on gold over $1,000 per ounce and this chart is a good reason to at least be careful with the current precious metal of choice. The latest trend looks very familiar…

Chad Brand is the President of Peridot Capital Management LLC, a paper money advisory firm; and fifteen months after Mr. Brand cautioned investors to avoid the gold “bandwagon” gold is now $1,400, a 40 % gain. My advice: Avoid gold bears. They’re dangerous, especially now.

This is an Except, Read more here


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: gold; goldbugs
Happy New Year everyone!

I predict that sometime before the next presidential election is held, Gold will be selling at near $2,500/oz.

1 posted on 01/01/2011 2:41:13 PM PST by An Old Man
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To: An Old Man

You could look at a chart, or you could listen to the whir of the printing press. Your choice.


2 posted on 01/01/2011 2:52:47 PM PST by fhayek
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To: An Old Man

Happy New Year to you too!

How do you feel about Silver?

TrimTabs: “No Amount Of QE Will Be Able To Keep The Current Stock Market Bubble From Bursting”

http://www.zerohedge.com/article/trimtabs-no-amount-qe-will-be-able-keep-current-stock-market-bubble-bursting-eventually


3 posted on 01/01/2011 2:54:02 PM PST by FromLori (FromLori)
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To: An Old Man

Gold was up about 40% last year while the market was up 9%. This means people in the markets really lost 31% when compared to gold.


4 posted on 01/01/2011 2:58:41 PM PST by Frantzie (Slaves do not have freedom only the illusion of freedom & their cable TV to drool at)
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To: fhayek

“You could look at a chart, or you could listen to the whir of the printing press. Your choice”.

...exactly! We’re printing enough money to place us in the same position as Germany in the 20’s. Worthless. We’ll probably lose our AAA rating in the next 2 years as well. On the other side of the coin, what do you do with gold if paper money becomes worthless?


5 posted on 01/01/2011 2:59:26 PM PST by albie
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To: An Old Man

For years the talking heads on TV have been saying in the nightly news: “Gold was up today and the dollar was weak.”

In 2010 that slogan did not work. Gold was up 30% in 2010 and the dollar was up 3%.

We all know how fast dollars were printed in the USA in 2010.

For the dollar to be 3% higher at the end of the year, the currency presses were working double time in the other countries of the world.

There is a whole lotta money being printed that needs to go somewhere.


6 posted on 01/01/2011 3:03:17 PM PST by Presbyterian Reporter
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To: An Old Man
My prediction for 2011:

* Gold $1,700.00 Oz

* Silver $60.00 Oz

* Copper $6.00 Lb.

7 posted on 01/01/2011 3:04:05 PM PST by blam
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To: fhayek

LOL! Someone post that picture of the young African boy holding a stack over billions of Zimbabwe dollars. Totally worthless. Obama is Mugabe II.


8 posted on 01/01/2011 3:04:12 PM PST by Frantzie (Slaves do not have freedom only the illusion of freedom & their cable TV to drool at)
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To: An Old Man
I love it. Gold bears are the people who warn drowning victims to beware of dehydration.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

9 posted on 01/01/2011 3:08:13 PM PST by The Comedian (Government: Saving people from freedom since time immemorial.)
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To: blam

My prediction for 2011:
* Gold $1,700.00 Oz

* Silver $60.00 Oz

* Copper $6.00 Lb.

____

I agree with gold at $1700, but would put silver at $45 and copper at $5.25. I believe bonds are going to be hit hard as there will be a moderate attempt to stop inflation.

The politicians do not have options other than to print money to inflate themselves out of the public debt they have created. Has anyone ever heard a politician say they made a mistake?


10 posted on 01/01/2011 3:08:58 PM PST by Presbyterian Reporter
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To: An Old Man
The problem is that there is no logical upper resistance level for gold. At the same time, it is a relatively small cap market and can be manipulated into a big selloff without warning. Gold could well go to 2500, and it could just as easily go to 800. Not for the faint -hearted.
11 posted on 01/01/2011 3:12:40 PM PST by hinckley buzzard
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To: The Comedian

Dude, you remember the old posts. I got in at 322 and 340, extexan was raising hell. As you know I am 400% above board, this is not an argument anymore.


12 posted on 01/01/2011 3:12:56 PM PST by eyedigress ((Old storm chaser from the west)?)
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To: Presbyterian Reporter
Has anyone ever heard a politician say they made a mistake?

Only when they got caught committing a felony.

I'd love silver at $60 but will still settle for $45.

13 posted on 01/01/2011 3:13:03 PM PST by Vince Ferrer
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To: Presbyterian Reporter
There is a whole lotta money being printed that needs to go somewhere

Debt as money was very clever, but its time is up.

All that's going on now is that debt is being moved around - Greece's debt becomes Germany's debt, but Germany does not create value equal to its new debt.

It may go on for a few more years before the end.

14 posted on 01/01/2011 3:15:19 PM PST by Jim Noble (Re-elect Palin 2016)
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To: FromLori
"How do you feel about Silver?"

That stuff is cold, hand and never says anything to me. I do have a few buckets full of it though and do not intend to part with it anytime soon.

15 posted on 01/01/2011 3:15:57 PM PST by An Old Man
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To: hinckley buzzard
"...it could just as easily go to 800."

If I give you my home phone number, would you call me when that happens. I got a truck load of paper money just waiting for that.

16 posted on 01/01/2011 3:21:47 PM PST by An Old Man
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To: blam
You are probably going to be very close with numbers like those.
17 posted on 01/01/2011 3:23:41 PM PST by An Old Man
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To: An Old Man

The problem with any predictions is that there are some large holders out there, i.e. George Soros who could dump at any time.


18 posted on 01/01/2011 3:25:00 PM PST by flyingtabby
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To: flyingtabby

He isn’t dumping Gold. That was 2004, get wiser.


19 posted on 01/01/2011 3:27:59 PM PST by eyedigress ((Old storm chaser from the west)?)
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To: Frantzie

“Gold was up about 40% last year”

What? Try 30%


20 posted on 01/01/2011 3:30:26 PM PST by cowtowney
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To: Presbyterian Reporter

Any predictions for oil?


21 posted on 01/01/2011 3:35:51 PM PST by Rusty0604
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To: fhayek

22 posted on 01/01/2011 3:36:07 PM PST by DeaconBenjamin (A trillion here, a trillion there, soon you're NOT talking real money)
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To: eyedigress

Perhaps he isn’t - but there are many who could. There are plenty of pundits out there including on Fox Biz who are saying gold will be down 15% by the end of 2011.


23 posted on 01/01/2011 3:36:07 PM PST by flyingtabby
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To: Rusty0604

Relative to the metals oil is cheap. So if metals go up 20%, then oil should go up 30%


24 posted on 01/01/2011 3:39:49 PM PST by Presbyterian Reporter
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To: An Old Man
Gold, schmold...Municipal Bonds! Yeah, that's the ticket!
25 posted on 01/01/2011 3:40:25 PM PST by GBA (Not on our watch!)
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To: cowtowney; Frantzie

And silver was up over 80%


26 posted on 01/01/2011 3:42:38 PM PST by DeaconBenjamin (A trillion here, a trillion there, soon you're NOT talking real money)
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To: Presbyterian Reporter
"So if metals go up 20%, then oil should go up 30%"

Did you borrow that from obamas play book? He was talking about $5 gasoline just the other day.

27 posted on 01/01/2011 3:42:38 PM PST by An Old Man
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To: An Old Man

People who know me would not stop laughing if I were caught reading Obama’s playbook.

Obama is reading Jimmy Carter’s playbook on how Jimmy dealt with raging inflation.

And we all know how that worked out for Jimmy. Don’t we?


28 posted on 01/01/2011 3:52:13 PM PST by Presbyterian Reporter
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To: FromLori

QE is what is filling the “bubble” so fast.


29 posted on 01/01/2011 3:57:22 PM PST by editor-surveyor (Obamacare is America's kristallnacht !!)
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To: eyedigress
Totally.

Heck, I'm up 200% on silver alone in less than a year!

Let's just hope Cramer doesn't recommend metals, or we're toast.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

30 posted on 01/01/2011 4:32:07 PM PST by The Comedian (Government: Saving people from freedom since time immemorial.)
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To: The Comedian

You had better enroll in a class in basic mathematics.


31 posted on 01/01/2011 4:35:09 PM PST by Presbyterian Reporter
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To: Presbyterian Reporter; All
You had better enroll in a class in basic mathematics.

You had better wipe that lipstick off before your puckered lips approach my behind.

What was SLV the first week of Feb 8 2010? If you said $14.75, you are correct.

What was SLV close on Friday? If you said $30 and some change, you are correct.

Who needs the math lesson, Presbian Disorder?


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

32 posted on 01/01/2011 4:46:28 PM PST by The Comedian (Government: Saving people from freedom since time immemorial.)
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To: The Comedian

“Heck, I’m up 200% on silver alone in less than a year!”
_____

Rather than be insulting you may want to recheck your mathematics.

“”What was SLV the first week of Feb 8 2010? If you said $14.75, you are correct. What was SLV close on Friday? If you said $30 and some change, you are correct.””

I believe the example you have offered is a 100% increase and not the 200% increase you claim it to be.


33 posted on 01/01/2011 5:45:34 PM PST by Presbyterian Reporter
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To: Presbyterian Reporter

perhaps he’s using borrowed money for leverage? or faulty math?


34 posted on 01/01/2011 5:47:01 PM PST by nascarnation
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To: The Comedian; Presbyterian Reporter; All

FYI in the interest of clarity, with no insult or slight intended.

In worldwide standard use for over a century.

Gold is AU.

Silver is AR.

Bronze is AE.


35 posted on 01/01/2011 6:05:42 PM PST by warm n fuzzy (Really)
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To: All

When governments of the world are buying gold, lookout above.

High price of oil will confirm the worthlessness of the US$ and the price of gold will confirms both of them (oil and the dollar).

ETF for commodities have been discussed already, not a long term hold. Buy the source(s).


36 posted on 01/01/2011 6:08:47 PM PST by Razzz42
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To: An Old Man

Always have some of the REAL thing (precious metals) on hand. If everything collapses, you’ll need something of value to bargain with. Heck, you’d better have plenty of food, water, and even seeds [!] — and LEAD — as they will be of more immediate and practical value at that point...

But in the meantime, a portfolio that looks at commodities like precious or industrial metals and mining, agri-business and foods, and energy resources, utilities and delivery — and even exploration, discovery and land trusts for those purposes — are possible profitable investments.

Once hyperinflation ever does hit, it will be a matter of timing — and prayer — to figure out when to “cash out” the paper investments and use whatever resources one has to make the best of where one is in life. And if anyone has any suggestions or tips on “timing” when that right moment will be, PLEASE post them! I can’t be the only one who’d like to get some better ideas!


37 posted on 01/01/2011 6:43:54 PM PST by patriot preacher
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To: albie
On the other side of the coin, what do you do with gold if paper money becomes worthless?

Ummm, use it as what it really is: Money.

38 posted on 01/01/2011 6:45:04 PM PST by Erasmus (Personal goal: Have a bigger carbon footprint than Tony Robbins.)
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To: An Old Man

Keep in mind FDR’s seizure laws are still on the books.


39 posted on 01/01/2011 6:53:30 PM PST by flyingtabby
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To: Presbyterian Reporter
“Heck, I’m up 200% on silver alone in less than a year!” _____

Rather than be insulting you may want to recheck your mathematics.

“”What was SLV the first week of Feb 8 2010? If you said $14.75, you are correct. What was SLV close on Friday? If you said $30 and some change, you are correct.””

I believe the example you have offered is a 100% increase and not the 200% increase you claim it to be.

You're the one who started the insult fight, Presbian.

I've made a 100% profit in less than 12 months.

My SLV trading account's value is 200% of what it was in Jan. 2010.

And I venture my math skills are significantly more advanced than yours.

Don't start an insult fight with someone who revels in the exchange, and whose skills surpass yours.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

40 posted on 01/01/2011 9:58:10 PM PST by The Comedian (Government: Saving people from freedom since time immemorial.)
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To: warm n fuzzy
FYI in the interest of clarity, with no insult or slight intended.

In worldwide standard use for over a century.

Gold is AU.

Silver is AR.

SLV is the iShares Silver Trust ETF, GLD is the Gold Trust ETF, and those were my references. Look 'em up.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

41 posted on 01/01/2011 10:02:46 PM PST by The Comedian (Government: Saving people from freedom since time immemorial.)
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To: Erasmus

“Ummm, use it as what it really is: Money”.

...ummm, I guess you’d just shave a sliver off of a 10oz bar for a loaf of bread? A little larger sliver for meat etc?


42 posted on 01/01/2011 11:23:11 PM PST by albie
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To: The Comedian

I did not know that.

Thanks for the info.

Why would I doubt you?

I do think that people are nuts if they use any paper or instrument other than the physical metal.

First, when the excrement hits the rotary device, it will only matter what you have in hand.

Second, all confiscation LAWS are still on the books. A paper trail means that they know who to rob.

You don’t think that the messiah “king” obammy and his minions are going to stop once they steal American’s pensions and IRAs and such do you?

They WILL come for the people’s gold and silver and such also.

But, thanks again for clearing that nomenclature thing up.


43 posted on 01/01/2011 11:46:52 PM PST by warm n fuzzy (Really)
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To: flyingtabby
Keep in mind FDR’s seizure laws are still on the books

So is rule 308

44 posted on 01/02/2011 9:28:44 AM PST by An Old Man
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To: albie
...ummm, I guess you’d just shave a sliver off of a 10oz bar for a loaf of bread? A little larger sliver for meat etc?

While it is possible to do exactly what you wrote, the better choice might be to fall back on having some smaller lumps of gold on hand. Think of all the benefits, not the least of which is; you will not have to run the risk of cutting your finger on a sharp knife.

45 posted on 01/02/2011 9:37:21 AM PST by An Old Man
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