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Gold gets a downgrade at SocGen which says the metal's price is in bubble territory. The...

Gold gets a downgrade at SocGen which says the metal's price is in bubble territory. The downturn which began in October will continue, with the price hitting $1,400 by year's end and falling further in 2014. GLD +0.2% premarket.
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Comments (27)
  • blueline
    , contributor
    Comments (1566) | Send Message
     
    I wonder if the downgrade was pre or post Cyprus?
    21 Mar 2013, 07:52 AM Reply Like
  • novamack
    , contributor
    Comments (3) | Send Message
     
    I would think per, but I get a newsletter that agrees it is just a temp. pop up.
    21 Mar 2013, 03:34 PM Reply Like
  • Rosmo2004
    , contributor
    Comments (16) | Send Message
     
    An act to bring confidence in Fiat Money.
    21 Mar 2013, 08:02 AM Reply Like
  • The_Hammer
    , contributor
    Comments (4284) | Send Message
     
    Gold a bubble? Kind of laughable when worldwide debts and money supply are growing way beyond the low single digit gold growth. The biggest bubble I see is in sovereign debts, fiat currency and interest rates.
    21 Mar 2013, 08:25 AM Reply Like
  • scarlo
    , contributor
    Comments (67) | Send Message
     
    Are these guys at SocGen always behind the ball or what?
    21 Mar 2013, 08:35 AM Reply Like
  • Nickyforex
    , contributor
    Comments (20) | Send Message
     
    In Thailand they know the true value of gold in buying it to pay for when you die. It a very basic commodity of life.

     

    Some of the big players are going to get burnt either way very soon it would seem. A lot of smoke and mirrors
    21 Mar 2013, 08:46 AM Reply Like
  • J Collins
    , contributor
    Comments (178) | Send Message
     
    Gold price is not in a bubble. It has simply risen in tandem with rise in sovereign debt loads of Western governments. So suggesting that gold price is in a bubble is another way of highlighting the fact that government debt is in a bubble stage.
    21 Mar 2013, 08:46 AM Reply Like
  • The Geoffster
    , contributor
    Comments (4107) | Send Message
     
    Has anyone charted the correlation between the price of gold and the Bankster's downgrades?
    21 Mar 2013, 08:52 AM Reply Like
  • Iron Hamster
    , contributor
    Comments (423) | Send Message
     
    I'm sure gold was in a bubble in the 1930's, also. I'm thinking an ounce was about $25 at the time. I can't remember what it is, now.
    21 Mar 2013, 09:08 AM Reply Like
  • mstrong1
    , contributor
    Comments (83) | Send Message
     
    1,400 !!! Yikes I better sell all the physical I bought between 1,800 and 1,500, or maybe I should just keep buying more on the way down and go back to sleep ???
    21 Mar 2013, 09:36 AM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    a bubble...yeah right...as they keep printing every day..more and more...and now there is talk of stealing your savings account....yeah right...this is the banks trying to drop the price so they can buy it up....they must have to deliver some gold and do not have it anymore...
    21 Mar 2013, 09:46 AM Reply Like
  • tobaccorogue
    , contributor
    Comments (45) | Send Message
     
    You have Chairman Comrade Mau-nanke continuing QE infinity, manipulating interest rates(no doubt to stave off unsustainable debt service) , central banks ,especially China accumulating as fast as they can with the whole world monetizing. I guess anything is possible but there seems to be rationale in this downgrade other than reality.
    21 Mar 2013, 10:14 AM Reply Like
  • Thiellover
    , contributor
    Comments (2) | Send Message
     
    Another way to manipulate the price so they can make alot of money and instill fear into current holders so they will sell it to them cheap. Very funny.
    .
    21 Mar 2013, 10:27 AM Reply Like
  • Thiellover
    , contributor
    Comments (2) | Send Message
     
    Wonderful. Another way to manuiplate the market and instill fear into the current holders so they will sell it to them cheap. Don't fall for it.
    21 Mar 2013, 10:27 AM Reply Like
  • The_Hammer
    , contributor
    Comments (4284) | Send Message
     
    where is the gold/silver speculation at the usual bubble ending phase? good news lots and lots of gold and silver skeptics.
    21 Mar 2013, 10:33 AM Reply Like
  • Thomas Noon
    , contributor
    Comments (115) | Send Message
     
    Gold is not A currency; gold is THE currency. Paper money is fiat currency. Gold is the only currency that cannot be expanded arbitrarily. There is a direct relationship – over longer periods of time, not weekly or even monthly – between the amount of money in circulation and inflation." – Alan Greenspan, Nov, 2010.

     

    Mr. Greenspan spoke Nov, 2010 at a luncheon for investors of Paulson & Co. He was quite candid on his sentiments about monetary expansion, inflation, and gold as a currency. He also acknowledged the recent words of Robert Zoellick: “Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today." Mr. Zoellick expanded those remarks recently: "A new system should…. consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values.”
    Mr. Greenspan provided the following background for his thoughts on the lingering recessionary conditions in the United States.

     

    "Investment in illiquid assets is the lowest in this country in 60 years, as long as it has been measured. Few want to invest in buildings or equipment in this environment. Without an uptick in PP&E, our unemployment is going to be chronic. You cannot stimulate your way out of it. Best to do nothing and stop trying to steer the ship this way or that. Just do nothing. Take your hands off the wheel -- and let the system heal."

     

    Here is Greenspan recently in an interview on the subject: http://bit.ly/ZOdSf5
    21 Mar 2013, 12:13 PM Reply Like
  • The_Hammer
    , contributor
    Comments (4284) | Send Message
     
    yet this idiot along with the bernank and other fed stooges contributed greatly to the disastrous credit/housing bubble that has bankrupted the country. now these idiots have gone off on the biggest baddest experiment in our history trying to impoverish its middle class.
    21 Mar 2013, 12:25 PM Reply Like
  • Smrtrnu
    , contributor
    Comments (36) | Send Message
     
    "SocGen: Gold Could Surge Over 500%"

     

    That was June 20th, 2012

     

    Gold was almost exactly where it is now, depending on the time of day when the release was made and when you read this.

     

    Since then, $trillions of dollars in debt have been created by governments, such as the US, and $trillions in money have been printed by Feds.

     

    Who and how many at SocGen do this kind of thinking and predicting? It seems they act like the psychics of the 50's and 60's who had many safe deposit boxes. In each was a different set of predictions. When one of the predictions came true, they would open the appropriate box and say "AH-HA! I was right!
    That's how Jean Dixon was said to have predicted Kennedy's death.
    21 Mar 2013, 12:34 PM Reply Like
  • J Collins
    , contributor
    Comments (178) | Send Message
     
    If gold is so bad why are the super-rich like Soros and Einhorn quietly accumulating truckloads of physical gold with their personal wealth?
    21 Mar 2013, 12:36 PM Reply Like
  • User 8699761
    , contributor
    Comment (1) | Send Message
     
    The CFTC is suspecting & planning to investigate the big 5 golden banks for possible gold price manipulation. Do Societe Generale & Barclays ring a bell? Banks will lend you an umbrella when it is sunshining but will take it back when it rains!
    21 Mar 2013, 03:29 PM Reply Like
  • mimjones
    , contributor
    Comment (1) | Send Message
     
    Fed Reserve printing money like its going out of style. $85 billion every month. This is a no brainer. Inflation starting to rear its ugly head between 2013 - 2015. QE to infinity. The Fed has no other game to play.
    21 Mar 2013, 03:30 PM Reply Like
  • alphacostadamos
    , contributor
    Comments (13) | Send Message
     
    I see many bubbles in the brains of those wise SocGen guys
    21 Mar 2013, 03:30 PM Reply Like
  • alphacostadamos
    , contributor
    Comments (13) | Send Message
     
    I just sorted SocGen
    21 Mar 2013, 03:31 PM Reply Like
  • Longboat
    , contributor
    Comments (11) | Send Message
     
    I have a 3D Printer in my cellar making GOLD. Unfortunately it can't keep up with the Federal Fiat Reserve. Be patient. It's just a matter of "when" not "if". Hang in there.
    21 Mar 2013, 10:40 PM Reply Like
  • Rosmo2004
    , contributor
    Comments (16) | Send Message
     
    Use your 3d printer meanwhile to print out dollar that will make FED fedup.
    23 Mar 2013, 07:41 AM Reply Like
  • gsdaga
    , contributor
    Comment (1) | Send Message
     
    idea of downgrading gold is ridiculous. seems to be misguiding.
    22 Mar 2013, 11:50 AM Reply Like
  • gdmarkin
    , contributor
    Comment (1) | Send Message
     
    Kind of absurd idea when the US prints money so regularly, China has a real estate bubble that is about to burst, Russia is in the doghouse, the European union looks weak and is on the verge of losing several member nations like Greece, Italy not to mention the recent Cyprus problems although it is a very small country.
    24 Mar 2013, 02:17 PM Reply Like
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