Posted on 10/07/2009 8:10:43 AM PDT by h20skier66
Having risen approximately 300% since the start of its bull run in 2001, Gold has far outpaced the investment gains in virtually every other investment class, including stocks, bonds, real estate and cash. Gold bugs feel certain that this time will be the ‘big one,' and that the precious metal will likely hit $2,000 - $3,000 an ounce, if not higher.
Commodity experts like Jim Rogers also believe that Gold will continue to surge higher, right along with most energy, food and base metal commodities; in fact, some believe that the bull run in commodities still has another 5 -10 years to run higher, given the tremendous demand from developing economies for massive amounts of raw materials. And certainly, the tremendous amounts of deficit spending being seen in nations across the globe have also caused many investors to flee to the perceived safety of Gold as a first-class inflation hedge. So, there are plenty of fundamental reasons for Gold to continue to march higher over the next few years, no argument there. But what about the technicals on the charts- what are they telling us right now? Are there sound technical reasons why traders and investors should prepare to buy more gold on a confirmed breakout above the March 2008 high - or not? Let's have a look at the long-term chart of cash Gold and see what the monthly price bars are telegraphing to us.
(Excerpt) Read more at commoditynewscenter.com ...
Gold has not even risen to carter levels yet, it probably will but not worth the panic just yet.
Good thing gold isn’t tulip bulbs. We’d be in real trouble.
I think gold will rise for a while, however...
1. When does Gold itself become a bubble?
2. What about the fact that once an investment gets advertised on TV and in every other financial article, that it’s usually 90% of the way through it’s run and ready to crash? (See Real Estate for an example).
Gold is going to hit 3k per oz in 6 months, my prediction, the US dollar is about to become worthless.
Keep rising!!! People are making a killing...however, when to sell? That is the question!!! “Gold” Mutual Funds are incredible right now.
Gold will become so expensive, and the dollar so worthless, that no one will be able to afford it. I certainly can’t. All I can do is sit and watch.
It is taking more and more of (ANY) currency to buy a given amount of GOLD..
That is probably the best thing to do right now. Metals can be a very high risk speculation.
Well, if you truly believe that then dump your 401k and other assets which are going to become worthless and buy gold? I know, so scary isn’t it? which way to go ...
Cash is trash gold is sold.
So what will happen? That’s EASY! Our oh-so-caring and concerned government will make private ownership of gold bullion/coins ILLEGAL (silver too, of course) and we will all be required to turn in our stock to local “drop off” stations. This will be mandated FOR OUR OWN GOOD because home invasion robberies put so many of us at risk! It will then be melted down and used for flooring in congressional bathrooms.
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