Salam,
Can anyone help me how to find gold price predictions for the rest of this year… I would like to purchase gold in the coming month or two but would like to have an idea if I should wait or buy now…
thanks in advance…
Gold predictions for the rest of the year. 925-950. Not a good price to buy for long term holding.
Throughout this year, gold has averaged out around 950, and despite a couple of dips down to 900s, it has refused to break the 900 barrier. On the high side, it has refused to do the same with 1000, despite flirting with 990 a couple of times.
The US economy in particular is farther from recovery, compared to the world economy in general, which for the most part, is in a better shape than the US, but is forced to lower its profile because of US being a huge trade partner.
Re: Gold Price predictions
gold prices hitting $1000 this year is inevitable, its the only good investment right now as well as silver. you would be nuts to put your money anywhere else. $1000 is the top resistance level for gold, once it breaks that level it will fly and should double in the next year and with massive quantitative easing hyperinflation is certain and will send gold prices even further.
buy bullion or buy the GLD etf.
if you want more gains and willing to take the risk, buy gdx or gold miners.
gold prices hitting $1000 this year is inevitable, its the only good investment right now as well as silver. you would be nuts to put your money anywhere else. $1000 is the top resistance level for gold, once it breaks that level it will fly and should double in the next year and with massive quantitative easing hyperinflation is certain and will send gold prices even further.
buy bullion or buy the GLD etf.
if you want more gains and willing to take the risk, buy gdx or gold miners.
So you are telling me to buy gold now... coz it is gonna double next year ... but what is GLD etf....????
Is it ever going to come below the $800 level...just this time last year it was low (compared to what it is now) ...Why is the price of gold constantly on the rise... how long before it stops rising....
Re: Gold Price predictions
any suggestion 4 me too, as em also intrested in investing in gold, but i m here in pk. gole here is 25k/ 10 grms, latest update
Re: Gold Price predictions
A lot of predictions in the years gone by had put gold at $2000 an ounce by Dec 2008. That deadline came and went, and we actually saw gold dip to below 800 an ounce, before jumping back up.
It is not in any country's favor for gold to go that high. Gold is a commodity. Countries dont like to liquidate their gold in favor of cash, so a high priced gold inventory doesnt do much for a country. America will continue pumping in cash in order to keep cash markets liquid, and that has already resulted in what has been termed as the end of the recession. As a result, we are seeing a stronger dollar, which will be followed (in the long term) by a weaker gold.
The gold that trades on the international commodities markets is 24 karat.....whereas the gold you buy in gold shops and markets is 24karat, only if bought in the form of biscuits. So if you want to invest in gold, make sure you buy biscuits, not jewelery.
Gold ETFs are for US or europe based stock traders. There are no ETFs in Pakistan. ETFs (exchange traded funds) are paper equivalents of gold, and understanding their correlation with actual gold is tricky, since each ETF uses different formulas and parameters to determine the price of an ETF.
So you are telling me to buy gold now... coz it is gonna double next year ... but what is GLD etf....????
Is it ever going to come below the $800 level...just this time last year it was low (compared to what it is now) ...Why is the price of gold constantly on the rise... how long before it stops rising....
yes, now is the best time.
its highly unlikly to go to $800 from here, its just inevitable that gold will pass $1000 this year, there is no doubt about that.
GLD is an ETF, you buy it instead of buying gold bullion and they have gold stored for you from what you buy a share. im not sure how you can buy it from pakistan, try signing up with some international brokers, many have offices in UAE and you will be able to operate from pakistan, try IB, interactive brokers, email them first to make sure.
gold goes up when the dollar goes down, as its the only currency back by gold and all other currencies are backed by the dollar, and every kid knows dollar is gona crash soon due to excessive money printing in the last year and hyperinflation coming. dollar will crash sometime in october-december from where gold will fly up.
MUST READ REPORT ON GOLD AND INFLATION
this is an excellent short report and how it will rise to thuderous levels soon. make sure you read it
gold will also go up due to the economic crisis, when the recession turns to a depression gold will fly and will be the only good investment, along with other precious metals.
the current crisis is a repeat of the 1930s great depression, only then gold was fixed in a gold standard todays system is totaly messed up with the fed able to print as much money as it likes which messes the system up due to excessive money printing, bringing the value of the dollar down with each new dollar printed and deepening the crisis.
do not fall for the media rubbish about financial crisis over and we are now in a recovery, its a lie, the rally what you have seen since march was nothing but a bear market rally and was pridicted to come by all experts who had pridicted this recession and now pridicting a depression, the cycle which we are seing today overlaps the 1930s great depression and seems like a carbon copy of it,
**Stocks Bear Market NOT Over, Stocks WILL Crash this Fall! **
Aug 05, 2009 - 01:47 AM
By: Graham_Summers
Yesterday we detailed the different between this current economic contraction, and your usual run of the mill plain vanilla recessions. We also went over the MASSIVE consumer credit contraction that needs to occur before American households have finished de-leveraging.
Today, we’re detailing why stocks will Crash this coming fall. As you know the media is rife with folks calling the end of the recession and the beginning of a new bull market. It’s clear to me that this is a load of nonsense. Today I’ll show you why.
Because a lot of the alleged “analysis” that is backing up the bulls’ claims of a new bull market comes from technical analysis and charts, I’m presenting the below chart from David Rosenberg of Gluskin Shef. It charts today’s bear market over that of 1929-1932.
click to see chart
As you can see, today’s bear market is mirroring that of the ‘30s almost to perfection. Indeed, the correlation between the two charts is an incredible 0.8, meaning it’s 4/5ths perfect. In finance, you’re lucky if you get a correlation above 0.6. (gold and the dollar are only 0.28 inversely correlated). A 0.8 correlation is virtually unheard of. But that’s exactly how closely today’s market is mirroring that of the ‘30s.
I can’t take full credit for this insight. Ron Coby, an investment manager at Coby Lamson in Oregon first started pointing out the similarities between this market and that of 1929 back in February ’09. No one wanted to listen to him then.
They’re listening now.
Coby notes that from October 29, 1929 until November 13, 1929, the stock market collapsed 48% (the 2008 Crash was 52%). Then from November 1929 to April 1930 the market staged a 155-day rally of 50%. Today’s rally (starting in March ’09) has lasted 150 days and the market is up an average of 50% (average of Nasdaq, DJIA, and S&P 500).
Unfortunately for the bulls today, the 1929 market then rolled over and collapsed another 70%. “Bottom callers” INCLUDING legends like Jesse Livermore, Benjamin Graham and others bought ALL THE WAY DOWN, losing entire fortunes.
Ok, so the charts for today and 1929 are identical, what about the earnings? After all, profits are ultimately what drive the stock market: you buy based on expected future earnings of the companies.
click to see chart
Earnings today are even lower than they were in the ‘30s during the Great Depression. They’ve fallen 98% from their peak in 2007. Adjusted for inflation, stocks have NEVER been this unprofitable in the last 80 years.
The US was already in a recession in 2008. And 2Q09 profits are actually down 31% even from THAT. Indeed, based on ACTUAL posted earnings, the S&P 500 is trading at a P/E of 700 today. Even if you go by operating earnings the multiple is still 24: hardly cheap.
Looking over this, I can’t see where any claims of a “bull market” are coming from. The people who are saying today is a new bull market probably went long Tech Stocks in 2001, Housing in 2006, and Financials in 2008.
In light of the rampant bullishness, the parabolic rally in the S&P 500, the horrific earnings, and the similarity between today’s rally and that of 1929, I believe the likelihood of another Crash (like 2008) is quite high. In fact, I would not be surprised to see stocks collapse within the next eight weeks.
I’ve put together a FREE Special Report detailing THREE investments that will explode when stocks start to collapse. I call it Financial Crisis “Round Two” Survival Kit. These investments will not only protect your portfolio from the coming carnage, they’ll also show you enormous profits: they returned 12%, 42%, and 153% last time stocks collapsed in 2008.
Swing by Subscribe Now to Gains, Pains, & Capital to pick up your FREE copy!!
Good Investing!
Graham Summers
Gains, Pains, & Capital
*Graham Summers: Graham is Senior Market Strategist at OmniSans Research. He is co-editor of Gain, Pains, and Capital, OmniSans Research’s FREE daily e-letter covering the equity, commodity, currency, and real estate markets. *
Graham also writes Private Wealth Advisory, a monthly investment advisory focusing on the most lucrative investment opportunities the financial markets have to offer. Graham understands the big picture from both a macro-economic and capital in/outflow perspective. He translates his understanding into finding trends and undervalued investment opportunities months before the markets catch on: the Private Wealth Advisory portfolio has outperformed the S&P 500 three of the last five years, including a 7% return in 2008 vs. a 37% loss for the S&P 500.
Previously, Graham worked as a Senior Financial Analyst covering global markets for several investment firms in the Mid-Atlantic region. He’s lived and performed research in Europe, Asia, the Middle East, and the United States.
© 2009 Copyright Graham Summers - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors..
Suhaib, the reports you have quoted are by market analysts. Like I quoted in my previous post, similar analysts had predicted gold testing the $2000 mark a year ago. Analysts work for their companies, and make their money by getting a certain group of people to go along with their assessments, so that the companies that these analysts work for can make money on the other side of the people who went with their assessments.
After all, there is no penalty for giving a wrong assessment, so its a safe bet.
Whether or not gold shoots up this year remains to be seen. As far as the economy is concerned, whether its the year 2009, or 2001, or 1990, US economy has always functioned on credit. It does not rely on having enough credit. It relies on having orderly cycle of credit. That orderly cycle was majorly disturbed last year, but is relatively back on track now. Yes, there still are plenty of loopholes in the system, but I dont see a reason as to why the market would be termed as a depression in the making at this time.
Suhaib, the reports you have quoted are by market analysts. Like I quoted in my previous post, similar analysts had predicted gold testing the $2000 mark a year ago. Analysts work for their companies, and make their money by getting a certain group of people to go along with their assessments, so that the companies that these analysts work for can make money on the other side of the people who went with their assessments. After all, there is no penalty for giving a wrong assessment, so its a safe bet.
Whether or not gold shoots up this year remains to be seen. As far as the economy is concerned, whether its the year 2009, or 2001, or 1990, US economy has always functioned on credit. It does not rely on having enough credit. It relies on having orderly cycle of credit. That orderly cycle was majorly disturbed last year, but is relatively back on track now. Yes, there still are plenty of loopholes in the system, but I dont see a reason as to why the market would be termed as a depression in the making at this time.
us has always functioned on credit? really thats news to me as usa has always functioned on debt for the last 80+ years. usa is the worlds biggest debtor with $14 trillion in debt and you are telling me its based on credit.
the debt was aggregated in the last 3/4 years what has brought around this crisis and no its no where near back on track, its getting worser as they are now taking on more debt to pay back their previous debt as they have no sources of income anymore, americas expenditure is triple its revenues. that time is near when countries are gona stop giving usa more debt and then usa will come crashing down. A depression coming is unavoidable now, its gona happen.
as for the reports then all reports are by market analysts, it depends on what ones you listen to as im sure the ones that predicted $2000 last year where no less then fools, can you provide some sources of those that did just to see there name and records.
market analysts might be working for money but they only get that money if there analysis is correct, if their predictions go wrong they have destroyed their record and will get no more cliets, so they dont just pull things out of thin air and know what they are talking about.
i like jim rogers, peter schiff and mark faber and their previous record shows they are mostly right, these were the ones that pridicted the recession back in 2004 and everyone was laughting at them, they have also pridicted gold flying high and a depression coming, but none of these predicted gold touching $2000 last year like you suggest.
if you read the gold report in the pdf file you can make your own judgement as it makes alot of sense.
well i was right as gold has had a major breakout and is now headed to $1000 allready, you could made nice profits if you took my advice ;)
happy trading :)
I wasn't really looking for profits I just want it to come down so I can buy some gold for my personal use...so any ideas when it is gonna come to below 900 level or lower than that. I will save money till then. Thanks :)
Re: Gold Price predictions
lol, gold may pull back but its never going to fall below 900 now, not in the next 10 years anyway, gold is heading to $3000 in the near future and possibly even higher after that.
lol, gold may pull back but its never going to fall below 900 now, not in the next 10 years anyway, gold is heading to $3000 in the near future and possibly even higher after that.
$3000.00? What are you expecting to happen in the near futue to cause that?