As other research desks talk of gold hitting $2,400 or even higher, Citi predicts $1,800/oz....


As other research desks talk of gold hitting $2,400 or even higher, Citi predicts $1,800/oz. likely will be tested this quarter thanks to global central bank stimulus. The firm sees gradual economic improvement in 2013, "suggesting that sustained investor upside moves should be difficult to maintain." Citi ups its 2013 gold price forecast to $1,749, but note: The price is now $1,763.

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Comments (10)
  • jkhtrip
    , contributor
    Comments (5) | Send Message
     
    In the final analysis nobody know where Gold will go, as you cannot value Gold in fiat money. You value fiat money in Gold.

     

    Second, the last institutions I would rely upon for any truth about Gold is any Bank, especially the ones that hate its check on their crimes.

     

    Third, Where will the money come for Growth, with high taxes, and high unemployment close to 20% in reality, not fake govt stats. As the idea taxes are not high enough is a subjective as it cab get.

     

    Gold has been held artificially low so long and this was why Bretton Woods was defaulted on by Nixon, yes, the crook! The USA was losing so much gold because we were in trouble then. That is why Charles De Gaul Requested payment in GOLD not dollars, and other country's did also. Nixon closed the GOLD window and that is a DEFAULT!

     

    lastly, Brazil, China, and Japan are already cutting out the dollar in trade and using Yen/Renmimbi and Renmimbi/Reals.

     

    The USDA cannot pay it s debts.....let not look at just deficits as that is a Difference between Revenue minus Income(taxes) and that is NOT the debt, The debt is in the Trillion as politicians have promised too much and the devaluation of the dollar is the politically expedient way to cheat creditors by paying with future cheaper dollars.

     

    This is the Feds Policy! The Fed is their to try and keep the Banks solvent and not any of the other mandates is the real goal. The rest are just "pabulum" for the masses.
    25 Sep 2012, 02:57 PM Reply Like
  • sikkabooyah
    , contributor
    Comments (457) | Send Message
     
    Does Citi have any more wild and crazy predictions for us?
    25 Sep 2012, 02:59 PM Reply Like
  • Denny_Chasteen
    , contributor
    Comments (688) | Send Message
     
    Yea, they are really sticking their necks out there on this one.
    25 Sep 2012, 03:06 PM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
     
    Here is the thing to remember...the USA CAN pay its debts...if it just prints the money...and I think they will....Politicans will not cut anything...so the spending goes up...and so the printing will follow....trillions more..until no one else in the world accepts the dollar anymore....and I see that in the future too...
    25 Sep 2012, 03:05 PM Reply Like
  • stan33man
    , contributor
    Comments (149) | Send Message
     
    ...which continues to devalue the dollar and increase the value of PMs, esp. gold...

     

    Yes, you have to love these bold proclamations by entities such as Citibank like "gold might hit $xxxx per ounce by [such and such a date]..." - and the price is already there!
    1 Oct 2012, 10:17 AM Reply Like
  • honey6969100
    , contributor
    Comments (13) | Send Message
     
    I see other countries hate us and want to dissociate from our currency. Like it or not we have to appease our enemies with bail outs or aids for their problems as is is cheaper and safer to deal with our people seeking family and community aid than to go to another fnanced war.
    25 Sep 2012, 04:01 PM Reply Like
  • louhorner
    , contributor
    Comments (8) | Send Message
     
    Bullion banks to stage a take down of au, ag here? What do you think? Will you trade it? Sell now figuring to buy back later at a lower price? With China eating up all of the gold in sight the long term looks bright.
    25 Sep 2012, 05:30 PM Reply Like
  • chuck1m@msn.com
    , contributor
    Comment (1) | Send Message
     
    Here is what top Citi analyst Fitzpatrick had to say, along with some powerful charts: “You can still have corrections and track sideways occasionally, but to us the trend is solid. The pattern is quite clear, and we still believe this $1,791 area is really quite critical in terms of the next leg higher for gold, as well as the $37.48 level on silver.

     

    When we get a weekly close through both of those critical levels, we anticipate that will give us an acceleration which will take us up toward the targets on gold to the $2,055 area (see chart below), and silver back to the old highs near $50. However, on a longer-term basis we believe we have a setup here which suggests that gold could continue to go higher for some time to come.
    25 Sep 2012, 05:34 PM Reply Like
  • jbassbia
    , contributor
    Comments (394) | Send Message
     
    There is a great article from Deutche Bank : How To Know When Gold Prices Are Too High a note to clients today, Deutsche Bank commodities analyst Michael Lewis explains how investors will know when the price of gold becomes truly excessive:

     

    The gold price would need to move above USD 1,880/oz to represent an all time high in real terms. However, versus physical and financial assets, gold prices would need to rise to much higher levels to be considered excessive. Figure 1 examines the level of the gold price that would be considered extreme against a selection of indicators. On the seven measures we track, gold would need to hit USD 2,390/oz to reduce the purchasing power of an average G7 consumer to its lowest level on record. Moreover the gold price would need to hit USD 2,960/oz to represent an excessive valuation versus the S&P 500.
    ( full article at http://bit.ly/MWC1hH )
    25 Sep 2012, 10:12 PM Reply Like
  • 2BUSTER1
    , contributor
    Comments (4) | Send Message
     
    It's a damned shame that "Banksters," Politicians, and mainstream media, have the uninformed, or uninterested, so unrealistically sedated with propaganda and printing presses to have a false realization that "all is well." In hindsight, the "Banksters" and Politicians make Jesse James and Bonnie & Clyde seem as petty candy store thieves.
    26 Sep 2012, 12:52 AM Reply Like
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