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Where will price of gold head by end of this year?
#1
We all saw gold had very tough  first week of Oct.  After huge  26% up this year, this correction may not be that kind surprised, even if dropping was pretty sharp... So is this bull ended? I bet it's not. And  where will gold close at end of this year? I think price of Gold will still close above $1300... What's ur view?
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#2
$1050.
She's gonna blow!
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#3
WHAT DO THOSE 3RD QUARTER #S TELL YA?
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#4
$1185 based on looking solely at the USA.  We are in a slow domestic deflation mode, but the date you reference is just 93 days away.  Not usually enough time to make a major shift.

$1185 would still be a healthy gain from the end of 2015.

Weakness in Japan and/or Europe could easily throw my prediction off.  Saber rattling with Russia and/or China could do that too.

The crystal ball is cloudy.

oly
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#5
(10-09-2016, 07:41 PM)oly2059 Wrote: $1185 based on looking solely at the USA.  We are in a slow domestic deflation mode, but the date you reference is just 93 days away.  Not usually enough time to make a major shift.

$1185 would still be a healthy gain from the end of 2015.

Weakness in Japan and/or Europe could easily throw my prediction off.  Saber rattling with Russia and/or China could do that too.

The crystal ball is cloudy.

oly

Good points.

Classically there are two reasons for holding gold:

1. A hedge against inflation. There is none, so that's out

2. A hedge against international turbulence, particularly in oil supply. We currently have war across half of the middle east in flames and gold has gone nowhere. So that's out too.

So my outlook for gold is negative.
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#6
Actually, the best reason to own gold in a deflation is that it is the only financial asset that has no counterparty risk.  

Gold is the ultimate cash and the only pure form of money.

With every other form of financial asset, the debtor and creditor relationship has to perform flawlessly. If it does not, then an investor can be absolutely right about the "investment", but if the obligor can't or won't pay, you will still lose (especially if the debt instrument has no collateralization).

The deflationary scenario is all about people not being able to meet their obligations!!!  You have to get that possibility into your head!!!  Pieces of paper fail all the time, and if that has never happened to you, you are most fortunate.

Gold has its uses in all three possible financial worlds - bad times, stable times, good times.

oly

P.S. While oil is the commodity that has the largest market, in terms of paper money, there was a world before petroleum (less than 170 years ago) and there will be some future time when petroleum no longer dominates human affairs the way it does today.  Commodities are commodities, not financial assets.  Even if you consider it irrational, Gold has always been valuable.
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#7
Outlook is negative through the rest of the year. Higher likelihood of Fed raising rates in Dec. is bad for gold / good for dollar. Also more deflation ahead...
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#8
I think 1,200 will hold, 2nd best guess the 1,060 level will hold.
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#9
Its holding the four month low.

I'm thinking the traders are reversing their bets, pushing the price lower during a normally rising market time of the year for Gold. If this mark holds, it would clean up that kind of betting.
She's gonna blow!
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#10
Gold will go up a bit in the next 3 months.

Should the Lawsuit against several banks go ahead for price fixing gold could explode

The volatility of the currency markets make it unpredictable and until the election is over it will hover around 1250-1300

After election it will make a move, depending on who wins.
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