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Gold price dives through support to new low. Gold Bubble continues to deflate.; Gold price to drop another 15% this year say strategists at Societe Generale
Topic Started: 3 Apr 2013, 10:29 AM (37,658 Views)
goldbug
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You keep asking the same question over and over and over and over. And I give you the same answer over and over and yet it never seems to sink into your skull, why is that pigiron? I tell you what, I'll put it in my signature for a few weeks, then everytime you see one of my posts you be reminded ok?

But that's not going to work in the long term is it, so you have to do your bit too. You have to make that appointment at the neurologist to discuss your memory loss issues. Not saying that you have alzheimer's or the like, but you need to have the problem diagnosed by a professional.


Here is a percentage gain chart comparing the 1970s bullrun to todays run. Clearly we have not entered a mania stage, all we have seen thus far is normal price appreciation out of the 20 year bear.

Posted Image
Edited by goldbug, 21 Sep 2013, 11:20 PM.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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goldbug
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Jim Rogers: Gold Could Fall to $900 in Next 1-2 Years

The Fed may just have delivered an early Christmas present to the financial markets. After the Fed announced it would not taper its asset purchases, as many investors had expected, financial markets rallied, from stocks to bonds and even gold. While the S&P 500 surged 1.2% to a record high yesterday, gold prices have soared 5% and are at $1,367 an ounce in early morning trading Thursday.

In a statement following its meeting the Fed said it "decided to await more evidence that [economic] progress will be sustained before adjusting the pace of purchases." Fed Chairman Ben Bernanke explained in a press conference, “Conditions in the job market today still are far from what all of us would like to see," and “the tightening of financial conditions observed in recent months, if sustained, could slow the pace of improvement in the economy and the labor market.”

In response to Bernanke's comments, gold – which had been retreating in part because of expectations of tapering – is on a tear this morning.

But hold on a moment.

Commodities investor Jim Rogers tells The Daily Ticker that gold, having lost its luster as a safe haven, could drop to $900 or $1,000 in the next 1-2 years. Longer term, he has a very different forecast. Gold will soar to “well beyond $1,900 an ounce,” topping its record $1,920 high reached in September 2011, says Rogers, author of Street Smarts: Adventures on the Road and in the Markets. The reason: “massive currency debasement” around the world. “Every major central bank in the world is printing a lot of money plus war, chaos, riots in the street, governments failing,” says Rogers.

Despite that forecast, Rogers warns investments not to consider gold – or any other investment — safe. “I would never use the word ‘safe’ when I’m speaking about investing.”
http://finance.yahoo.com/blogs/daily-ticker/gold-rallies-fed-taper-delay-jim-rogers-forecasts-124054059.html
Quote:
 


Jim Rogers: 'I'm Not Selling My Gold'

Famed investor Jim Rogers' crystal ball was working well two years ago when, at the height of gold prices, he warned gold would plummet to $1,200 per ounce. Now that it's hit that level, he thinks $900 could be the real bottom.

In an interview with Business Insider, Rogers, chairman of Rogers Holdings, said gold had been rising for about 12 years when it hit a high of $1,900 per ounce in 2011, so a correction was way overdue.

"There were lots and lots of mystics who were convinced that gold was holy. That gold could not go down, that gold had to go up. And that's the reason I think gold hasn't made its final bottom yet," he explained.


"You know when you have people that are faithful, or true believers, you usually don't hit a true bottom until most of those people get washed out." Rogers said one primary factor in the drop in gold prices is that in India, the world's largest buyer of gold, the government is trying to discourage gold imports because of that nation's huge balance of trade deficit. Other nations now putting limits on gold purchases include France and Germany, he noted.

According to Rogers, the bottom in gold may not come until 2014 or later, but in the meantime he is keeping his own gold holdings intact because he thinks the longer-term bull market in the precious metal is still intact. "I'm not selling my gold," he told Business Insider. "I'm skeptical, even though I expect gold may go down even more to $1,000 to $900. A 50 percent correction would be $960 or whatever it is. Now 50 percent corrections are quite normal in markets. What's not normal is for something to go up 12 years in a row.

"The bull market's not over," he added. "Gold is going to eventually make new highs."
Not all experts agree that gold still has a new leg lower ahead.

Strategists at Deutsche Bank said in a client note that gold's correction might already have occurred, MarketWatch reported.

"Lessons from history suggest that although gold-price losses have been extreme, the extent of the price correction today is still some way short of the percentage declines that occurred in 1980-1981," the note stated.

However, in that earlier era, U.S. short-term interest rates hit 20 percent, a much different rate environment than today.

Although the Federal Reserve's current monetary policy may be a strong headwind to gold prices, "it is possible that the major part of the gold price correction has already occurred," according to the strategists.
Edited by goldbug, 23 Sep 2013, 01:32 PM.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Pig Iron
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Bogan scum

at some point are you planning to post something that doesnt just prove you completely fucked up and missed to peak?
I am the love child of Tony Abbott and Pauline Hanson
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Catweasel
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goldbug
23 Sep 2013, 01:28 PM
Jim Rogers: Gold Could Fall to $900 in Next 1-2 Years

The Fed may just have delivered an early Christmas present to the financial markets. After the Fed announced it would not taper its asset purchases, as many investors had expected, financial markets rallied, from stocks to bonds and even gold. While the S&P 500 surged 1.2% to a record high yesterday, gold prices have soared 5% and are at $1,367 an ounce in early morning trading Thursday.

In a statement following its meeting the Fed said it "decided to await more evidence that [economic] progress will be sustained before adjusting the pace of purchases." Fed Chairman Ben Bernanke explained in a press conference, “Conditions in the job market today still are far from what all of us would like to see," and “the tightening of financial conditions observed in recent months, if sustained, could slow the pace of improvement in the economy and the labor market.”

In response to Bernanke's comments, gold – which had been retreating in part because of expectations of tapering – is on a tear this morning.

But hold on a moment.

Commodities investor Jim Rogers tells The Daily Ticker that gold, having lost its luster as a safe haven, could drop to $900 or $1,000 in the next 1-2 years. Longer term, he has a very different forecast. Gold will soar to “well beyond $1,900 an ounce,” topping its record $1,920 high reached in September 2011, says Rogers, author of Street Smarts: Adventures on the Road and in the Markets. The reason: “massive currency debasement” around the world. “Every major central bank in the world is printing a lot of money plus war, chaos, riots in the street, governments failing,” says Rogers.

Despite that forecast, Rogers warns investments not to consider gold – or any other investment — safe. “I would never use the word ‘safe’ when I’m speaking about investing.”
http://finance.yahoo.com/blogs/daily-ticker/gold-rallies-fed-taper-delay-jim-rogers-forecasts-124054059.html
Catweasel say a Jim the Rogers,

is antithesis of mouse

and rascals of a sandpit.

A Rogers understand a nature of a risk,

and that put it entirely in different the league.

But the mouse still sold,

on its safe as a houses,

which stand in a contrast,

to a wily old Rogers,

who speak to mouse with a compassion,

quite unlike a white shoes.
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peter fraser
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Catweasel
23 Sep 2013, 11:30 PM
Catweasel say a Jim the Rogers,

is antithesis of mouse

and rascals of a sandpit.

A Rogers understand a nature of a risk,

and that put it entirely in different the league.

But the mouse still sold,

on its safe as a houses,

which stand in a contrast,

to a wily old Rogers,

who speak to mouse with a compassion,

quite unlike a white shoes.
Amazing - so Rogers is wily and he buys gold without any risk, but a house buyer takes on a risk that he doesn't understand.

Sounds very much like bias confirmation to me.
Any expressed market opinion is my own and is not to be taken as financial advice
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Catweasel
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peter fraser
23 Sep 2013, 11:48 PM
Amazing - so Rogers is wily and he buys gold without any risk, but a house buyer takes on a risk that he doesn't understand.

Sounds very much like bias confirmation to me.
Catweasel think rascal not understand a risk.

Wily ol' Rogers speak in the clear.

And a gold can be in a toilet.

It a risk it a be comfortable.

Mouse cannot accept such a risk with its mouse house.

Too much to do a lose.

Nothing to be a ashame of.

But mouse will pile in a regardless.
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Simon
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Catweasel
24 Sep 2013, 12:14 AM
But mouse will pile in a regardless
we can tell it bothers you the "dumb" mice are winning

now please feign compassion and pretend to be serene about it
Edited by Simon, 24 Sep 2013, 12:24 AM.
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Catweasel
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Simon
24 Sep 2013, 12:23 AM
we can tell it bothers you the "dumb" mice are winning

now please feign compassion and pretend to be serene about it
Catweasel say that how it should a be.

Mouse should stick to what master plan for it.

And hope for a best.

Mouse should not a play with a fire.

And a fire is a gold.

As a nice the Mr. Rogers say.

A compassion should never be the insincere.

Even with a rascals and rapscalls.
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peter fraser
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Quote:
 
REPORT: Man Arrested For Allegedly Assaulting Girlfriend After She Disagreed With Him About The Value Of Gold
Link Here
Fights about gold frequently get very heated, but this is the first time we’ve heard of it getting physical.

Izabella Kaminska points us to this article in Santa Monica Mirror about a man who has been arrested for allegedly assaulting his girlfriend during a heated argument about gold.


A 21-year-old Los Angeles man was arrested on Thursday, Sept. 12 after assaulting his girlfriend after becoming upset and agitated during an argument over the value of gold.

The boyfriend had allegedly become upset and agitated because she was differing with him regarding the value of gold.

She claimed that he informed her that he was always right, and was at that time resentful that she was daring to argue with him.

He expressed his displeasure by pushing the victim to the ground, sitting on her, and punching her repeatedly on both of her upper arms.

We’re trying to learn more.

Bail was reportedly set at 50 thousand paper US dollars.


Goldbugs are certainly passionate about their asset values.
Any expressed market opinion is my own and is not to be taken as financial advice
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goldbug
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Simon
24 Sep 2013, 12:23 AM
Catweasel
24 Sep 2013, 12:14 AM
But mouse will pile in a regardless
we can tell it bothers you the "dumb" mice are winning

What like a gambler with all their money on Black at the roulette wheel? I'll tell you something about Rodgers, and myself, we don't have all our investment money in precious metals, that would be stupid. Yet a cursory read around this forum shows that is exactly the strategy of the average property investor. The "All in" mentality I call it and it reminds me about my teenage days playing cards late into the night with friends. Drunk on a carton of beer, watching the pot grow and grow, risking everything on the play of 2 cards because you are 'sure' you will win. That's property investment for the masses, they have no diversification.

Other than choosing different suburbs :lol
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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