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A week or two would be my guess. I have little to base this on, except the hype is getting out of proportion.

Seems there will be a pullback after the debt thing clears up. The trend is up but not this fast.
Gold 1700-1600 at years end. That is without the silver style drop I would not expect.

whatsnext wrote:A week or two would be my guess. I have little to base this on, except the hype is getting out of proportion.

Seems there will be a pullback after the debt thing clears up. The trend is up but not this fast.
Gold 1700-1600 at years end. That is without the silver style drop I would not expect.

1750 by end of August, mebbe before......if we get notched down from triple a to AA, watch out....or Greece might be the Lehman moment, i dunno.

TPTB are continuing to cap the price rise, limiting surges to no more then 2% on the strongest of days, reeling back in $5 to $7 moves to break even point or a slight loss. They must do so to continue to ATTEMPT to pull the wool over the sheeples eyes for as long as they can. They accompany this by shorting the gold miners as well. My bet? Gold has a hell of a lot higher to rise in the next two years... then it is possible for it to fall from here. You figure it out

Since there is soooo much hype about 8/02 I would say that gold will take hefty hit that day when the world keeps spinning, but as along as even the threat of U.S. credit downgrade exists, that dip will be made up for and thensome, especially if a downgrade actually occurs. This is all assuming no deal is passed before Aug.2---and I think I would agree with those who say that, should a downgrade occur, it won't be to AA, but BBB or lower.

In any event, I don't see any meaningful fall in gold as long as the dollar continues its descent against other currencies....speaking of that, I read today that the USD has fallen to a historic low against the Swiss Franc=(

I think that the debt ceiling drama has drawn a lot of unwanted attention to our fiscal situation and (more importantly) our unwillingness to deal with it. Any decrease in gold will be temporary. If we get downgraded, gold will pass 1800 by Christmas.

theo wrote:I think that the debt ceiling drama has drawn a lot of unwanted attention to our fiscal situation and (more importantly) our unwillingness to deal with it. Any decrease in gold will be temporary. If we get downgraded, gold will pass 1800 by Christmas.

I have to agree with you on the target, but I don't feel it's achievement is dependent on the outcome of a potential downgrade. Might get there quicker, but with or without, much higher numbers are coming to a theatre near you soon

Still waiting for it to fall back to $350/oz like it was in the early 2000's. Any day now...

ed_vantage17 wrote:Still waiting for it to fall back to $350/oz like it was in the early 2000's. Any day now...

Just long enough for me to acquire 100 or so oz.