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Gold: The Next Bubble
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Originally posted by Indy Coug View Post
I also can't remember if Ruff was political or just calling for financial doom.
You don't have a chart you can put up that goes back to 1978 do you.
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Originally posted by Indy Coug View PostYou mean back when gold was last around $1,000 an ounce?
The only reason I asked to to bring up a chart is because I don't know how to copy and paste one or I would have done it.
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I don't know if it is or not, but it seems that every other ad on conservative talk radio, I admit I listen to Bill Bennett in the morning and Michael Medved in the afternoon on my commute, and FOX business seems to be touting Gold. That makes me suspicious
I may be small, but I'm slow.
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Originally posted by happyone View PostI don't know if it is or not, but it seems that every other ad on conservative talk radio, I admit I listen to Bill Bennett in the morning and Michael Medved in the afternoon on my commute, and FOX business seems to be touting Gold. That makes me suspicious
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Originally posted by Indy Coug View Post
The one thing I have found during a bubble is the saying, "this time it is different". When I was looking up prices on google I hit an article on why this time is different than the gold high in the early 80's.
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A good article on how valuable gold is currently:
http://money.cnn.com/2010/01/06/pf/b...ymag/index.htm
It's not like it is oil or food or something that is in high practical demand. Even silver has more practical industrial use than gold, even though film use has gone down.
The only thing keeping gold up is its history as a valuable material and a safe investment.
If you are going for a safe tangible investment, I think oil should be it. It will always have a practical use and it doesn't go bad. i.e. it is fine just siting there for a long time.
Copper might be another one that seems practical to me.
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The dollar has been weak, but what happens if/when the Euro collapses? Does the devaluation of the dollar become muted by the devaluation of other major currencies? If so, does that undercut the increase in gold prices?
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I'm not sure what to make of gold. It's definitely looking like a bubble, but demand has decreased in Q1 of 2010 from what it was in Q1 2009 and yet the price has increased almost $500 since then. Its fundamentals have been screwy for a long time and it's clear that the market is being driven by emotional factors. Another factor is the weakness of the dollar right now, which again creates an element of fear.
I think it will come down, not to $400 an ounce, more likely to $600 which would probably be more in line with inflation, but I don't think the bubble is fully inflated yet, mainly because people are very jittery about the market.
If you're interested in interesting commentary and real time prices look at www.kitco.com and read Jon Nadler's column. He seems to be more rational and cautious when discussing the gold market.
edit: I just looked at Nadler's column for today. The title is "Baubles Sell, Bubbles Swell." He's always got a catchy title, or at least he tries for them.Dio perdona tante cose per un’opera di misericordia
God forgives many things for an act of mercyAlessandro Manzoni
Knock it off. This board has enough problems without a dose of middle-age lechery.
pelagius
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Originally posted by Indy Coug View PostThe dollar has been weak, but what happens if/when the Euro collapses? Does the devaluation of the dollar become muted by the devaluation of other major currencies? If so, does that undercut the increase in gold prices?
I think it has very little relation. Sure more people will go with US dollars that may have been Euros before, but if the US looks shaky too, my guess is most of that money goes into commodities or elsewhere.
Of course I'm no expert.
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GIVE 'EM HELL, BRIGHAM!
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Originally posted by pellegrino View PostI'm not sure what to make of gold. It's definitely looking like a bubble, but demand has decreased in Q1 of 2010 from what it was in Q1 2009 and yet the price has increased almost $500 since then. Its fundamentals have been screwy for a long time and it's clear that the market is being driven by emotional factors. Another factor is the weakness of the dollar right now, which again creates an element of fear.
I think it will come down, not to $400 an ounce, more likely to $600 which would probably be more in line with inflation, but I don't think the bubble is fully inflated yet, mainly because people are very jittery about the market.
If you're interested in interesting commentary and real time prices look at www.kitco.com and read Jon Nadler's column. He seems to be more rational and cautious when discussing the gold market.
edit: I just looked at Nadler's column for today. The title is "Baubles Sell, Bubbles Swell." He's always got a catchy title, or at least he tries for them.
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