Gold at $1,200 is among Saxo Bank's outrageous predictions for 2013. The reason: A strong...


Gold at $1,200 is among Saxo Bank's outrageous predictions for 2013. The reason: A strong economic recovery in the U.S. saps demand for the safe-haven investment. Eventually, central banks take advantage of the low price and buy (At the bottom? That would be a first).

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Comments (13)
  • presidentasp
    , contributor
    Comments (65) | Send Message
     
    What is a Saxo Bank? And why should we care what they think? :)
    18 Dec 2012, 07:51 AM Reply Like
  • Archman Investor
    , contributor
    Comments (3208) | Send Message
     
    "A strong economic recovery in the U.S"

     

    http://bit.ly/VOiEpf

     

    Who's really making all the money in this country?
    http://bloom.bg/YfXabc
    http://bloom.bg/SW6bkX
    http://bloom.bg/YfX96W
    http://bloom.bg/WbKQEI

     

    All unsustainable.
    18 Dec 2012, 07:53 AM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
     
    a stong economic recovery in the US...I donĀ“t see that...with all the new taxes..rules and regulations hitting January 1st...not in my crystal ball
    18 Dec 2012, 07:54 AM Reply Like
  • vermille
    , contributor
    Comments (40) | Send Message
     
    The joke's on us for clicking on the e-mail. This non prediction prediction is without merit, substance or believability. Who is Saxo Bank?.....Now we have a name---so what. Obviously someone is confused between predicting and forecasting.
    18 Dec 2012, 08:38 AM Reply Like
  • tr4head
    , contributor
    Comments (316) | Send Message
     
    This is simply part 2 or 3 of the plan to keep your capital in Developed World equities - money going to GOLD is not available for equities/zero sum. The central bankers know that their economies are unsustainable vs emerging markets and need your capital out of their equities and GOLD specifically because GOLD implies real inflation (not to mention middle east and far east wars on horizon). This would prematurely kill their Zero interest plans. Inflation and zero rates are mutually exclusive, yet its the life support that keeps us from economic disaster. GOLD going up also undermines strength of the dollar and the value of developed world currencies.

     

    As for Saxo? Well, maybe I can start a bank today and send them my opinion too. Here is it: Gold at $4700 oz by 2020. OK?
    18 Dec 2012, 08:56 AM Reply Like
  • MMencer
    , contributor
    Comments (8) | Send Message
     
    I'm not a banking expert but I've been around some. I have NEVER heard of Saxo Bank before.
    18 Dec 2012, 09:44 AM Reply Like
  • stan33man
    , contributor
    Comments (132) | Send Message
     
    I've never heard of Saxo Bank either. Guess that makes it unanimous. But whoever they are, they're not alone. Harry Dent and co. are predicting the same thing, but worse. "Gold to go to $750..."

     

    And since Dent is wrong virtually 100% of the time, gold should rise again in 2013. OK, I feel better now...
    18 Dec 2012, 10:03 AM Reply Like
  • sikkabooyah
    , contributor
    Comments (457) | Send Message
     
    Just 'cause you've never heard of Saxo Bank doesn't mean that they're right!
    18 Dec 2012, 10:21 AM Reply Like
  • tr4head
    , contributor
    Comments (316) | Send Message
     
    No - but they are on board with the KoolAid plan to stop GOLD from rising. Saxo is an Internet (aka fake) online bank in Copenhagen. I suspect they are very supportive of keeping Europe afloat and rising Gold does not enter into their world view equation. See my prior post about the economically challenged Developed World.
    18 Dec 2012, 11:17 AM Reply Like
  • OLH
    , contributor
    Comment (1) | Send Message
     
    Interesting comments to our outrageous prediction on gold. I have to reiterate that it is just that - an outrageous prediction. Our official forecast for 2013 is a peak of 2075 and another year with a higher average price, somewhere in the region of 1850. Gold is suffering from end-of-year fatigue and is better left alone until Dec 27 as no new investment decisions by the leveraged community is initiated at this time of year. The move today down to its 200 DMA is probably required to shake out weak longs and give January buyers more confidence to engage early on. Happy holidays everyone. Ole H Saxo Bank
    18 Dec 2012, 04:55 PM Reply Like
  • Justsayin2
    , contributor
    Comment (1) | Send Message
     
    Saxo BAnk apparently is a Danish investment bank and reportedly they are laying off employees.
    19 Dec 2012, 12:40 PM Reply Like
  • TheMONYReport
    , contributor
    Comments (20) | Send Message
     
    Is anyone else seeing these historically high correlations between spot gold futures and the US dollar index?

     

    Taken from my GLD Blog post yesterday (12/18),

     

    "The positive correlation between the US dollar index (DXY0) and gold (GLD) is starting to look historical. The 13, 21, 34, 55 day correlation metrics are all at multi-year highs. This is the growing development behind the scenes currently in the capital markets. Everyone knows that stocks rocketed higher today. How many investors know that the EUR/USD broke through a major resistance level while GLD was down -1.44%? DXY0 and gold are moving at a +0.66 21d correlation! They are both getting eaten by bears...Intermarket relationships can lag from time to time, but the gold/dollar relationship historically has a short lag time for obvious reasons. Who is selling gold in US dollar terms but also selling the dollar against other currencies?...Continue to watch this development play out. This is big!

     

    As for GLD itself, volume (24 mil shares = +240% 200d EMA) and the price decline were tremendous throughout the day. Price did manage to retrace some of the losses in the afternoon, but closed (at 162.08) just below important intermediate-term support at 163.20. If today was a bottom blow-off day (possible given the location of price and volume), then tomorrow will need to bring a bullish reversal formation. Otherwise, things could get messy for gold bulls in the short-term."
    19 Dec 2012, 04:48 PM Reply Like
  • savings4u
    , contributor
    Comments (11) | Send Message
     
    A SAXO BANK is the Bank with the SAXO Gold?! What cheap skates, for pete's sake! Who wouldn't buy gold at $1200.00 Per? Anyways?
    26 Jun 2014, 01:11 PM Reply Like
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