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Gold's ahead 3% and Silver 5% following Bernanke's dovish remarks last night. GLD +2.9%, SLV...

Gold's ahead 3% and Silver 5% following Bernanke's dovish remarks last night. GLD +2.9%, SLV +5.3% premarket. The devastated miners look to catch a big opening bounce as well, GDX +5.4%. Copper (JJC) +3.5%.
Comments (9)
  • open up the charts - theres a sign it will return to 1250$ at least
    11 Jul 2013, 08:52 AM Reply Like
  • Where are the people who were forecasting $2,500 gold? Are they still there? How many years will it take for gold to reach this number, if it ever does?
    11 Jul 2013, 08:57 AM Reply Like
  • Here are two article you should read in order to answer your question. It is written by Tom Fitzpatrick, an analyst from Citibank.
    This one explains his position on equities:
    http://read.bi/18PADao
    The next one talks about gold going above $3500.00 by 2016. It was written in May 2013 and he projected that gold would rally up to 1260 in the near term and he was absolutely correct.
    http://read.bi/18PADap

     

    Here is a lengthy video (if you have the time) from someone named James Rickards and gold going to $7000 an oz. If you don't want to watch the video just google him. He has been working in capital markets for 35 years.
    http://bit.ly/18PAEem

     

    These are just 2 sources explaining why gold will go up over the next couple of years.

     

    To explain some of the BLATANT manipulation that has happened to the gold market recently, here is an article from Goldman Sachs telling everyone to short their gold back in April when the prices fell so dramatically.
    http://on.wsj.com/18PAEep

     

    Just FYI, they recently told everyone, when gold was near 1200, that everyone should have 10% of gold in their portfolio. Great profit making on their part.

     

    I could go on and and on and on and on and on about why gold/silver will go back up. China is buying it in the droves at these low prices. Mining companies need gold to be at $1500 for them to make a profit, so they are REALLY struggling. Bernanke basically just announced QE4 and depending on how much that is, it could mean gold going up again come fall. The last round of QE3 didn't do much for gold, so not sure yet what the forecast for gold will be if they launch QE4, it just depends on a couple of factors. However, all of the recent shenanigans from the banks have been based on *paper* gold/silver, i.e. GLD. If GLD gets out of the picture, the true cost of gold, which should be triple what it is now, will go up and silver will follow.
    11 Jul 2013, 09:39 AM Reply Like
  • Gold and silver are coiled up to spring back to all time highs.
    $2,500 gold will come sooner than you think: 2-3 years tops.
    11 Jul 2013, 09:21 AM Reply Like
  • Gold doesn't reach a #. The currency devalues to a value of gold. Once you look at it this way it is easy to understand how paper dollars can at some point in the future become valueless.
    11 Jul 2013, 09:22 AM Reply Like
  • At risk of having this comment censored may I pose one question?

     

    How can market fundamentals change on a dime like this if everything is supply and demand and not manipulated?

     

    How can confidence be created when the head of the FED talks in circles as the circus applauds. I watched everything yesterday and we are in real trouble if day to day we are reading tea leaves of what Ben Bernanke is saying. Who wants to invest in that environment?

     

    This is why many PM investors are grasping for something that will retain value, because the market seems to be creating asset bubbles independent of a free market. That scares the common folk who don't have the dollars to throw away. When the monetary system is no longer fair and sound, the middle class will flee to safety. That can no longer be found in any aspect of a manipulated market. I will choose the relic metal until we return to sound money policy.
    11 Jul 2013, 11:00 AM Reply Like
  • Bernanke said the Fed "might" taper the QE expansion of the money supply by the end of 2013, in response to questions about how long this could go on, since the economy was not improving, measurably, in spite of $3 Trillion of QE. Immediately, the "players" jumped in front of the move they hoped to start, by shorting Gold and other stocks that were inflation hedges. The computer trading programs started the sell-offs we have seen, and the Market over-reacted DOWN, driven by the computers and hedge funds. A mountain was made out of the mole hill of Bernanke's "might". Markets always react too far. Now they are killing the "shorts" very methodically, and the Market will go too far the other way.
    That QE money has not entered the economy because the Banks are not releasing it. They know they can make mortgages and the Fed will buy them as fast as they make them, with absolutely no risk and guaranteed profits on all of them. If interest rates rise, I think that QE created money will start to circulate and inflation will begin to get quickly out of hand. Then, Gold will also rise quickly, going too far the other way.
    I also predict that there will be no "we return to sound money policy". Ain't gonna happen. What happens is the inflation tax, which Governments' always rely on to pay off the debts.
    Regards,
    11 Jul 2013, 02:22 PM Reply Like
  • Physical gold shortages in China just as inflation is heating up there...

     

    Miners shutting operations as inflation in mining operation costs spins out of control...

     

    Intense global currency war underway...

     

    Yields falling once again in the U.S. and Japan...

     

    Arab, Indian and South American central banks quickening the pace of gold purchases as oil prices SPIKE in local currencies (social unrest being the reason in Arab countries)...

     

    Yeah...those who think gold is heading for triple digits MAY have to wait a little while longer.

     

    Buy gold.
    11 Jul 2013, 09:54 PM Reply Like
  • Well put Sinedo...
    11 Jul 2013, 09:54 PM Reply Like
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