How Long Will Gold Correct?

possible to see gold at 2500 $ in 2011

yes keep your eye on the prize - shorterm we will some big gyrations in the price of gold and huge volatility. Seems US investors cling to every little shred of positive news and sell gold on any hint of recovery. Latest jobs report showing the US only lost 11,000 more jobs last month was enuf of a driver to cause a selloff in precious metals and a pop in the US $.
However the next bad news will inevitably come as another bank will go bellyup down there , or the commerical real estate overhang will cave in causing another huge spike in gold , at least in terms of the US $.
Producers have had terrific gains in the past years at least most i watch , but sooner or later the juniors with good properties and resources will start to get bought up in a mad rush , AND that will cause a run in most of them .

Yes, I think you're predicting correctly. I just hope time will speed up, I can't stand the wait and the financial stand still.

Here's a slightly different view on the monthly gold chart. Notice that I choose to draw straight lines on linear charts since, on a long-term log scale chart, a straight line would actually bend. A break to the upside of the channel I've drawn would suggest that the bottom of the $USD is really about to fall out; however, I doubt this is the case. Charts. IMO.

uh huh,... i doubt that. Dollar would need to crap hard..

It is amazing to see the large drop in POG when the weak USD rises just a bit.

IMO, we will continue to see lots of volatility but the POG trend will be upwards for some time as the US economic situation is not going to turn around for some time.

Does Canada have anything like the SPDR GOLD TRUST?? That's NYSE:GLD.

Canada has a bank convered in gold but not anything like theSPDR I think.

Dammit, gold prices keep falling....

so does my RBI stocks...

I've heard that it could slip under 1k but will bounce back and take off. This would be due to short-lived confidence in the US dollar.

It could be that there is more of a near term deflation risk, rather than inflation. see pimco article bloomberg.

the numbers keep getting better! haha.

Actually, the world just needs to THINK the dollar is going to crap hard for gold to hit 2500/oz

This will be an interesting week! Gold on the sway.

Question: what does the parable "dollar craps hard" mean?

meaning the dollar would have to 60.00 or less to get to the number he mentioned. we would be looking at 150-200 oil, 6-7 on copper to get gold that high next year. most wages wouldnt be able to be negotiated quick enough to make up for cost of living. it would cause another crisis that wouldnt be fixable for a long time

Ok, thanks, think I almost got it.

Lots of people said this crisis would see another wave of market falling in the next year...

That is why my only really long term investment is in a company that can't get much lower ever after the crisis, rest is in juniors or gold companies...

As long as i don't see gold stabilizing, im not taking any chance on the market for long term beside mining and oil

Further to my last comment (on the chart), we are nearing the EMA(50) and are set to challenge the near-term down-trend. Buy-if. My prediction--gold will trade above or below $1000 in the future. Please send me subscription money.

p.s., lines on a linear chart, rather than log, win. Again.

Charts.

Yes, I'm of the same opinion, or strategy, and it really seems to work out fine. I think the return will be quite ok, much better then I would suspected a year ago. Espeically since I constantly have to balance and sell my gold investments and turn them into new funds and stocks all the time.