Fitch downgrades gold, saying recent price increases left its value "detached from fundamental...

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buybuybear Comments (389)
 
Whereas I think long term 'solutions' for this deleveraging is going to result in massive printing which would be good for gold. I do think it's run up way to fast, way too soon. I think levels from last June are more reasonable (just after QE2) of about 1150-1200.
26 Sep 2011, 03:25 PM Reply Like

Spencer Knight Comments (352)
 
I've been waiting for this for a while. While Fitch hints at $1600/oz being overvalued, I believe $1500-$1600/oz should be a steady level.
26 Sep 2011, 03:29 PM Reply Like

youngman442002 Comments (5024)
 
I think if left alone and not manipulated by raising margin rates right before expiry.....it would be a lot higher....the Fiat countries cannot allow it to be the worlds currency...it will be some day...just think if gold hit an alltime high of $3,000 an ounce just as the EURo is tanking.....what would the fiat countries think.....so they tank it..not one fundamental has changed....the EU is doomed...the USA is not far behind....I think China in the last 4 days has added many tons to their stash...thanks to our stupid manipulation....
26 Sep 2011, 03:33 PM Reply Like

Stoploss Comments (1727)
 
These idiots say print, out of one side of their mouth, and gold is too high out the other side.

That's an oxymoron.
26 Sep 2011, 03:51 PM Reply Like