GRF - Gold Price Guessing Contest

[Lou]

Hmm...

$1191.20

Maybe next month's contest I shall sponsor

 

[Anonymous]

Gold already dropping, tied in with fossil fuel. OK what is the price of a barrel of oil going to be when this contest ends.

regards
Gill

 

[Buzz]

$1208.35

 

[goldenchild]

$1190.00

 

[Oz]

$1260.00

 

[Noxx]

Comeon Oz, that's too late now

 

[EDI Refining]

Oz played it smart
Guessing ends tomorrow a Noon.

Dont worry Noxx, you know the market can do anything in 2weeks

 

[Oz]

Here's the Rules

You must have 25 + posts to enter / Only US & Canadian members
You are to guess the USD Au price for Friday May 21. I will use Kitcos site, and use the london afternoon fix to determine a winner
Your Guess must be posted in this thread by Friday May 7th 12pm!

I was unaware it was Friday. I am not very concerned about it but even when this was first posted there were serious tensions building in gold and it could go either way strongly.

The gold price is being determined by fear right now. It remains to be seen if liquidation to cover shorts while they can still be covered or fear of losing what one already has to sovereign default will carry the day. Mid to long range gold must go up as paper value is going down. Gold actually went up more than most people realize recently. It is a function of being priced in dollars. The dollar went up over 300 basis points this week and gold held its price plus some today. This is built in price demand when the dollar starts to correct once again to the down side. Even if I had the money I would not play the markets with gold right now short term, silver on the other hand would be very tempting.

 

[Noxx]

I don't think that the gold price will stay at $1200 for very long.

 

[Barren Realms 007]

I don't think that the gold price will stay at $1200 for very long.

Let the stock market keep dropping and we shall see what happens.

 

[goldsilverpro]

A true story which I have related before,

About 35 years ago, when I was about 35, I was the interim General Manager of a gold refinery in Hong Kong which, at the time, was the largest refinery in Asia. We had lunch, one day, with the manager of the largest gold trading company in Asia. I asked him what he thought the gold market was going to do. He said that there were only 2 real experts in the world concerning gold market movement. He said that one guy thought it would go up and the other guy thought it would go down. Infinite Chinese wisdom that has always stuck with me.

Probably, half of us will guess high and the other half will guess low. In any case, none of us have any idea what it will do and any attempted reasoning to predict it is just plain unadulterated BS.

 

[MiltonFu]

May 21st 2010.
Au : $1317.00 USD

 

[pinman]

1182.16 is my guess

 

[Oz]

Probably, half of us will guess high and the other half will guess low. In any case, none of us have any idea what it will do and any attempted reasoning to predict it is just plain unadulterated BS.

Ah, but your price guess says otherwise. It shows “your belief” in currencies. Notice I said currencies, not money.

 

[Platdigger]

1151.20

 

[Irons]

$2350 US :mrgreen:

 

[lazersteve]

$1148.99

Steve

 

[EDI Refining]

CONTEST GUESSING IS NOW CLOSED - Winner to be Announced May 21st - Good Luck Guys

 

[patnor1011]

well my bad as I missed this one.
I agree that I am out but here is my shoot anyway 1280

 

[butcher]

Ok now I see where Noxx got the gambling habit, running numbers on the gold market.