A run on gold coming?

thriftybob · Nov 15, 2008

I wonder if it gets to where China wants some of the US gold hoard to write off some of our debt?

flyingiguana · Nov 15, 2008

Quote from timscott:

Listen to Jim Rogers in the other thread. He said the IMF is being forced to sell its gold to come up with cash to keep banks solvent.

Saudi's may have bought their stockpile from the IMF - and the IMF still has plenty more.

He said this could possibly drive gold down to $500 with that much gold coming on the market, but once the selling stops, it will rocket.

I would feel more comfortable buying gold over $900 or under $600 than buying it here.

Either buy it cheap or wait for a confirmation of a move.
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good call, there's not much direction on gold currently. i like gold under 700 though

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A run on gold coming?

thriftybob

flyingiguana