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Gold to $3K an Ounce?

JnRockwallJnRockwall Member Posts: 16,350 ✭✭✭
edited February 2011 in General Discussion
Some saying silver as high as $75 an ounce?

Serious?

Anyone buying into this or blowing it off as nonsense?
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Comments

  • LaidbackDanLaidbackDan Member Posts: 13,142 ✭✭✭
    edited November -1
    I would think anyone who has purchased for less than that are hoping.
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  • JnRockwallJnRockwall Member Posts: 16,350 ✭✭✭
    edited November -1
    I agree, but I was talking to a couple of people today and it seems to be the popular belief that things are not turning around quick enough and people are going to keep going to silver and gold for safety.

    Beats me, I am not a metals guy. I just try to process what I am hearing.
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  • LesWVaLesWVa Member Posts: 10,490 ✭✭
    edited November -1
    I forget the guys name. But he holds vast quantities of gold. So much so that it is said the he made $158 a SECOND last year as the price went up.

    His prediction was it would hit $2400 an once by 2013.
    ====================

    My take on silver. It is no longer widely used in currency around the world nor does it have as much value as for trade (Globally) as copper.

    I predict that in a few years copper will be worth more than silver on the open market.
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  • skicatskicat Member Posts: 14,431 ✭
    edited November -1
    quote:Originally posted by LesWVa
    I forget the guys name. But he holds vast quantities of gold. So much so that it is said the he made $158 a SECOND last year as the price went up.

    His prediction was it would hit $2400 an once by 2013.
    ====================

    My take on silver. It is no longer widely used in currency around the world nor does it have as much value as for trade (Globally) as copper.

    I predict that in a few years copper will be worth more than silver on the open market.

    Silver is used up faster than the other noble metals in various industrial processes is how I understand it.
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  • barbwiredbarbwired Member Posts: 7,924 ✭✭
    edited November -1
    Anybody remember the Hunt brothers? If you already have silver you paid less than 5 bucks a ounce for you are doing pretty good right now, but at the rate it's at now is there really going to be a big profit margine for it now? Just asking a question , not trying to start a arguement.
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  • ElMuertoMonkeyElMuertoMonkey Member Posts: 12,898
    edited November -1
    I like to think silver and gold will remain in a bull market for some time, but even I think $75 and $3000 per ounce respectively is expecting a bit much. I simply don't see the dollar weakening that much that soon.
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  • yoshmysteryoshmyster Member Posts: 21,988 ✭✭✭✭
    edited November -1
    I remember the Hunt Bros. But I think it's not any one small group playing the market. I think it's a global government playing the field this time around.
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  • CA sucksCA sucks Member Posts: 4,310
    edited November -1
    Eventually, as inflation marches on, yes.
    The question is if that is next century, next decade, or next year (next year would likely be a SHTF scenario - not road warrior style, but Weimar Republic style)
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  • scottm21166scottm21166 Member Posts: 20,723
    edited November -1
    gold, silver, oil all commodoties are up and climbing...but the stock market is still climbing too. And still, people are buying Pythons and Sweet 16 shotguns...I don't know what to make of that [:0]
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  • n/an/a Member Posts: 168,427 ✭
    edited November -1
    Personally, I expect Silver to rise far more than it has already. I claim no expertise, or special financial knowledge, but I can absorb information and make assessments based on that information, a big-picture view of the nation and probabilities.

    I am not holding Silver as a profit-driven investment, but for other reasons.

    Take the 55 minutes and watch the attached video 'Meltup', to bring some perspective. Take it for what it is worth, but add it to your mix of information that assists you in assessing probabilities.

    http://www.youtube.com/watch?v=eb1n1X0Oqdw
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  • SCOUT5SCOUT5 Member Posts: 16,181 ✭✭✭✭
    edited November -1
    quote:Originally posted by lt496
    Personally, I expect Silver to rise far more than it has already. I claim no expertise, or special financial knowledge, but I can absorb information and make assessments based on that information, a big-picture view of the nation and probabilities.

    I am not holding Silver as a profit-driven investment, but for other reasons.

    Take the 55 minutes and watch the attached video 'Meltup', to bring some perspective. Take it for what it is worth, but add it to your mix of information that assists you in assessing probabilities.

    http://www.youtube.com/watch?v=eb1n1X0Oqdw



    Thanks for the link, good stuff
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  • RtWngExtrmstRtWngExtrmst Member Posts: 7,456
    edited November -1
    Gold currently is 17,500,000,000,000 Zimbabwe dollars an ounce. (17.5 trillion) Under the current leadership, unimpeded by the morons in Congress, that's where the US is headed. You might wish for the good old days when gold was only $3,000 per oz.
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  • scottm21166scottm21166 Member Posts: 20,723
    edited November -1
    Ok so what I don't get is, if dollars become worthless what do you get for yor presious metals?
    Would you take dollars for it? I think not. would you use it to buy a loaf of bread? I don't see how.
    I always figured I ws smart enough to get along in this world and make ends meet through my work and investment but I am at a complete loss of what to do.
    I guess buy silver and ride it out...I don't want to get involved with any investment that puts my assets in someone elses hands or under their management.
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  • matwormatwor Member Posts: 20,594
    edited November -1
    quote:Originally posted by RtWngExtrmst
    Gold currently is 17,500,000,000,000 Zimbabwe dollars an ounce. (17.5 trillion)

    How many Z dollars is a loaf of bread?
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  • RtWngExtrmstRtWngExtrmst Member Posts: 7,456
    edited November -1
    quote:Originally posted by matwor
    quote:Originally posted by RtWngExtrmst
    Gold currently is 17,500,000,000,000 Zimbabwe dollars an ounce. (17.5 trillion)

    How many Z dollars is a loaf of bread?

    At US$2.00 per loaf it would be ZIM$25,000,000,000. (25 billion)
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  • mrseatlemrseatle Member Posts: 15,467 ✭✭✭
    edited November -1
    That Gold mining TV show is pretty popular right now.
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