Marc Faber: gold will never go below 1000 USD again http://www.businessinsider.com/marc-faber-gold-is-never-going-below-1000-an-ounce-2009-11
You mean you have been holding dollars in 09? Jeez. Though break. Anyway, you can buy DZZ which is a leveraged gold short. If you believe gold is going to 300$ an ounce and the mighty USD will rule once more you should buy it. Good luck.
Gold is down 1.28% and people are calling the gold collapse as a given. Come on, be serious please. Goldman Sachs is down 2.80%. You think they will get another bailout?
I dont think that gold is going to $300 but I think there is a good pullback coming within the next 6 months. The euphoria will come to an end for the sheep blindly buying a metal that is pretty much useless when you really think about it. The sheep dont know why they are buying it but they just do and its going up, same thing we have seen in every bubble everytime.
That is an interesting assumption. With the recent "glitch" in gold caused by Dubai, I am sure the smart money got out and are sitting on the sideline right now. There is no way these billion dollar hedge funds are going to buy gold given how it reacted to the catalyst. With Dubai and other European countries in potential trouble, reserves have to be reduced to prepare for bigger problems as they uncover all the cards. Given the high price of gold, I can see central banks selling gold, or at least stop from buying them. If $1,000 became the support, then we will have to see if the saying "resistance and support are meant to be broken." is true.
2 things, interest rate and saving rate of American. Interest rate is hard to manipulate at current record low. Anyway, fed currently is more on side of deflation than inflation. AFAIK, BIS can and will accept gold as payment to debts since its inceptions, so don't discredit gold yet. After all, we will see classic example of West(developed countries) lecturing on developing world on debt repayment soon. LOL
All the banks and hedgefunds are up into their eyeballs in gold and goldstocks, all you have to do to find that out is do a google search on ownership. As far as the dumb money being in gold today no worries, they will loose indeed by selling at 2000$ or 3000$ an ounce missing out on the 10k spike.
I am a contrarian style investor and just feel that I would like to dip my toe into the water because of my belief that crowded trades are very tough to profit off. No offense but I feel that talk like this of $2, $3, $10k gold makes me want to sell into it, I of course would have a stop in above $1200, good luck to you.
I don't think looking at the ownership level is a good indicator of what the banks and hedge funds are doing. Banks and hedge funds most likely use derivatives to get in and out of their positions. The big players never show their cards.