Jim Rogers - Gold Seek Radio Nugget - 06-30-09
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Gold could be higher than $5000 as this just depends on how LOW the $ will fall when the TBond market crashes - so it is hard to give any figure except that it will an all time high and as the $ is the reserve currency then at that time it will not be any more - people will dump it and walk off and then you will see gold being dealt with a a variety of currencies and a possible new currency which will have strength whilst the $ will be down and out. Schiff is right as is Rogers. The $ IS doomed
salahuddin786 2 years ago
Gold is being manipulated down. As is silver. Gold production is currently very low, the reason is the price is often below the cost of mining it. Yet the demand for gold in the last year alone has been staggering. Programs like cash4gold have popped up all over encouraging people to sell their "worthless" gold.
Schiff anticipates the thumbhold on gold to slip. If it does, the price would go up that high, yes.
sirellyn 2 years ago
I believe this has less to do with the supply of gold and more to do with the value of the dollar. There will be much more pressure pushing gold up than supply pushing it down. When the dollar tanks, many other currencies will feel a pinch. The flight to "real" money should be tremendous. Remember, they are talking about gold priced in US dollars.
spikelou 2 years ago
Schiff said gold would be over $2000 by the end of 2009, maybe as high as $5000.
This strikes me as an irresponsible statement.
Each yr (for hundreds of yrs) the supply of refined gold in the world has increased. You can't say that about other commodities like silver, oil, etc.
And if gold goes back over $1000 you should see many ppl selling their gold jewelry, etc & if goes over $1200 you''ll certainly see a great deal of selling.
Some of these predictors may be high on something.
DillonX 2 years ago
I've recently entered the gold market buying physical at 917. Waiting to buy more if we drop.
Anythingwilldo41 2 years ago