Can someone predict the price of gold

[goldnugget77]

The thing with predicting things like this is, you might get it right 1 or 2 times.
But eventually you will be wrong

How about all those technical stuff
That might be an idea

 

[Oz]

If the world banking cartel(s) feels that they will make money by the gold going down or up, they most surely can make it move where they want it by use of such things as derivatives. Also, I have read that 70% of the money in the various markets comes from government investment funds. The powers that be can do anything they want. That's why they have all the money and gold and we don't. That's also why you can't predict gold prices. Most people who predict prices and sell hi-dollar newsletters make the error that everything in this corrupt world works by supply and demand.

GSP, I would enjoy any details you have on that 70% number.

As to supply and demand I agree if you refer to long term in gold and silver however central banks with collusion of banking cartels can warp that significantly in the short term. The last time supply/demand economics was too strong for them to control Roosevelt just outlawed private ownership in the US under penalty of 10 years in prison and a $10,000.00 fine. To put that fine into perspective it is equivalent to over $200,000.00 today due to inflation.

Goldnugget77,

You are more than welcome for the link, here is another one where I gave greater detail as to Roosevelt’s outlawing of gold and the US going off of the gold standard. http://www.goldrefiningforum.com/phpBB3/viewtopic.php?f=60&t=3137&hilit=roosevelt

 

[Harold_V]

As far as standard of life equalling out over the world, that would be a good thing if they were raising the countries with lower standard, but unfortunately, the people we elected think that we need to lower ours.

Those people are right. Americans have had too much for too long, and don't have a clue about living within their means. If that was not the case, we, as a nation, might not be in the position we find ourselves now.

I find it appalling that a guy (or gal) with no education and no particular skills can make more than $50,000/year, doing a job that could be managed by a trained monkey. The horror stories about wages for auto workers, for example. A report on PBS radio about a year ago indicated that it cost Ford Motor more than $75,000 per year per employee, considering all of their benefits. I have a problem with that considering many of them have nothing more invested in their jobs than a lunch box.

One of the toughest lessons there is to learn is that there is no free lunch. Any time a worker is paid beyond his/her value, someone, somewhere, is losing money. That goes for the guy pushing a broom in a factory, to the chief CEO's.

As far as the value of gold, to me it has aways been the same, just everything else is valued less.

Jim

You can safely look at it this way. A troy ounce of gold still contains 480 grains. There was a time when $35 would buy you an ounce (480 grains). It now takes more than $900 to buy the same 480 grains. I may be wrong, but that's a strong indication that the dollar is no longer valuable, and it may be headed lower.

Harold

 

[Oz]

I would heartily agree that the US has been living on borrowed time and borrowed money for wayyy to long Harold. While I agree it is ghastly some of the paychecks people take home working as an unskilled automaton, I find it hard to blame the worker for accepting the job. If some idiot offers to pay me double what I’m worth I’ll take his money. It was big corporate America that was stupid enough to agree to these pay checks and benefits.

What frosts me is that my government is taking a significant portion of my income as taxes to support these loosing propositions. If a business makes mistakes that cause it to fail, so be it. Government supporting failed institutions only puts wise investment and good businesses at a disadvantage while putting failures on the dole.

 

[Harold_V]

It was big corporate America that was stupid enough to agree to these pay checks and benefits.

Not exactly. I fault unions and those that subscribe to them for their endless quest for unearned money. We, as a nation, are not competitive as a result of their unreasonable demands.

I am not a union man----never have been. I witnessed, first hand, how unions can spell the end of a productive manufacturing company-------with their "more for less" attitude. I was working for Eimco Loader Division, Salt Lake City, Utah, back in '65 (Utah is a right to work state---and the machinists at Eimco were represented by the IAM) and witnessed the closure of the plant due to union slowdowns. I was not a union member and was constantly harassed by those that were, telling me to slow down, even going so far as to hang rejection tags on good work. As a result, I have nothing positive to say abut unions and fault them to a large degree for the mess we see today.

To the man (or woman), we all must come to terms with the idea that unearned money is a losing proposition. One does not progress by demanding more pay for less effort. One progresses by bettering themselves, offering more for more pay.

This has taken a turn, well off topic. Probably should be dropped, eh?

Harold
edit: corrected spelling

 

[Oz]

This has taken a turn, well of topic. Probably should be dropped, eh?

I understand and agree with a fair amount of what you said, but also agree it is off topic now as we are not referring to precious metals.

 

[qst42know]

It is easy to blame unions for the worlds troubles. The union worker did not define the task they perform. Unions don't lead the company. However the executive drawing multi-million dollar salaries who chose the safe path of leaving that worker to operate 40 year old (or much older) technologies is far more at fault for failing to compete. Corporate big shots spend more time covering their A**es and padding their wallets than they do being leaders.

Why would you blame the horse for where the cart ends up?

 

[Anonymous]

The value of gold really depends on how you interpret value, should the American dollar tank tomorrow ask yourself what is the value of my gold when the rest of the world is no longer accepting the US dollar as payment.

 

[goldnugget77]

How about a little game
Today's gold price is 959.00 U.S.
We have a bit of money to play gold option.
I don't exactly know how options work
I do have an idea.
You can either play on the price rising or falling
So we have a contact to either sell short or put
this contact ends in 1 week

How will you play
Me i will say it will go down by 20 dollars this week.
So I have until next Monday for gold to be 939.00 U.S.

 

[Ageo308]

How about a little game
Today's gold price is 959.00 U.S.
We have a bit of money to play gold option.
I don't exactly know how options work
I do have an idea.
You can either play on the price rising or falling
So we have a contact to either sell short or put
this contact ends in 1 week

How will you play
Me i will say it will go down by 20 dollars this week.
So I have until next Monday for gold to be 939.00 U.S.

Dont you mean "Contract"?

P.S The only people that can predict price movements are people that can move the market when they trade.

1 thing is forsure thow, you dont need to be a rocket scientist to understand that the more printing and devaluing of money the higher gold should go (theoritically).

 

[OMG]

I agree with Oz. Silver will go up more than gold.
I bet gold will touch over 1500 before the end of the year then go back down. 1500 us dollars that is
I think you can make some reasonable predictions, like predict that people will say to themselves - okay when it hits 1500 I will sell.
But it would be harder to predict when bigwigs decide to change the price. I haven't a clue what the bigwigs agenda is, or why they even have one if they have so much power and money.
Someone should study the history of the price of gold vs price of a loaf of bread or something else more staple/stable and see if it actually getting more valuable or not.
I just found a website about something called Zeitgeist. Kinda interesting, my kind of philosophy. They are trying to start a movement to change peoples ideas about money. Ie peoples addiction to money and resources and always trying to get more money than the next guy, and trying to get a 'free lunch' by making money and not actually doing anything that contributes to society. I'm starting to not like banks very much at all. They do nothing for society except suck money out of it. Damn leaches. I'm slowly working my way out of this whole racket though... my fantastical retirement park; where there are lots of fun things to do and no bills, and people can visit and stay as long as they like for free. even people on this forum. lol. There is even going to be a drive-in theater but with only bicycle paths into it and nice big comfy chairs. 8) I'll post pics when its finished. lol.

 

[goldnugget77]

what a fluke
If i played a contract I would make some kind of money because the price went down by 10 dollars

 

[ALPHABiT]

Dudies...
I would like to tell you my point of view about this.
If someone ask "Will price of gold go up"? It probably (for me surely) means some studies about economy should be done.
Gold is a "finished" and "unchangeble" quantity in the world (extracted + unextracted). His value is absolutely and mathematic a "sure" and "fixed" value, ever.
It's not Gold changing his value, but the rest acquiring or losing his value (i mean, in this case, your "green" paper).

Paper we call "money" is not a fixed value, but it depends only from 2 factors (Actually):
1) Quantity of existing paper pro-people
2) How much people belive in the paper worthing

Now considerations about those 2 points...

1) US GOV & FED as you probably know, are inflating 3 TRILLIONS dollars just in this months (Dunno if you can compare it with your actually complete monetary mass ). Those will be a gift to banks and other institutes 'cose the crisis.... But you know this. Banks will use the leverage system to spread new credits, and most part of those 3 trillions will be higly incresed in the economy. This is called STRONG INFLACTION. (items more expensive are an inflaction consecutio, non the proper "inflaction"). It happens when this new paper arrives in the real people-economy. More paper to buy same quantity items (and services) = more bids = higher prices. Problem here is who benefit of this system is only who can use this new paper at first. He can buy with new money at old prices. In other words it means some one is stealing from your back some value of your money, and you can do nothing to stop it.

2) I know for someone can sound incredible, but YES, paper is worthing just beacause some one say "IT WORTHS what i wrote" and some others belive in it.

and last and i hope clarefully thing i think can help to understand sense of this post:

With 1 gram of gold, you can buy 1Kg of meet. Same 1000 years ago in Europe, Same 500 years ago in US, same 100 years ago...
Now: Just think 1Kg of meet at today dollar price and only 50years ago.

Last personal consideration:
Gold (and other fixed sure really-few manipolable resources) is your friend. But it's one of the wrost enemy of states, central banks and economic powers of the world.
Be care, because gold in the economic world means "liberty", and belive me, this is not what someone want.

 

[Oz]

I know for someone can sound incredible, but YES, paper is worthing just beacause some one say "IT WORTHS what i wrote" and some others belive in it.

It is worth something because by Federal Government decree it must be accepted for all debts and contracts that are written with other forms of payment have been declared null and void. Our government does not wish for us to have alternatives to their fiat currency.

 

[ALPHABiT]

I know for someone can sound incredible, but YES, paper is worthing just beacause some one say "IT WORTHS what i wrote" and some others belive in it.

It is worth something because by Federal Government decree it must be accepted for all debts and contracts that are written with other forms of payment have been declared null and void. Our government does not wish for us to have alternatives to their fiat currency.

For me they are exaclty same words i wrote. Forms used to make people beliver is a secondary question.
Argentina was a good example what happens just when people simply stop to belive. Decree or not decree.

 

[goldnugget77]

Sooner or later all governments will fall.
I think its important to know when they will fall to profit in a financial way.
I don't remember who said this but he said American economy is good for another 75 to 100 years
and the G7 and the other big Nations are all connected to this.

 

[goldnugget77]

maybe it was Warren Buffet who said that the American economy is good for another 100 years
but i am not sure about that

 

[ALPHABiT]

Sooner or later all governments will fall.

This is not the point, sorry. Keynesian Economic Model in a "socialist" way like this, it's the fail.
This is not a free market, a free capitalism. It's all "controlled" and "regulated" by same who play the game.
When model fails (like argentina, or just lightly in our countries now), guess who pay the bill .

I don't remember who said this but he said American economy is good for another 75 to 100 years

In my opinion this is an optimistic vision.

 

[goldnugget77]

Hi ALPHABiT
maybe you are right but nobody exactly knows, but don't believe everything you read.
I know what happened in Argentina but this is U.S.A. the USA is not in good shape, i know that, but its not ready to collapse. i used to think like you 30 years ago as far as Gold is concerned yep it will go up but how many people got burned by investing in Gold If it was that sure of a thing than.................I dont know. Ill let someone else speak

 

[ALPHABiT]

Goldnugget i know what you are talking about. the '80s. Just an answer, compare that values, now, and compare gold and money NOT between them, but between each one and REAL items or services. This is a right comparation. Living for 20 long years upon our REAL possibilities, means corroding time to survive in an exponential mode. And this is, in non techical words, what's happened to our economy. And it doesnt mean just a guy bought a house cannot afford (!!!): this is a consecution of leverage bank systems they MUST use to survive in this economic model where Federal Reserve inflate new Trillions (we pay) just pressing a button at libidum.
My opinion is not based on sporadic reads. And belive me, i'm that kinf of guy when read or hear some news on newspaper or TV news, just think: "that's what they want i think, now start to study to understand myself". It's formed by studying economic bases and concepts. Keynes, Marx and Von Mises.
In fact what i think it's not a US problem, but a collettive WEST one. Will fail actual economic model we are using (Keynes) not just "nations" or "govs".
I can suggest to you to look a bit of VON MISES theories if you want to get in ouch with my point of view.
I give you some link just to start to read what i'm talking about.

http://mises.org/about/3223
http://mises.org/about/3224
http://mises.org/about/3225
http://mises.org/etexts/intellectuals.asp

Of course i know it's just a point of view.
But, for me, it's the most logical and obvious existing.
Austrian Economic Theory was the only one preditected correctly all our crisis, explaining why in large time before. Actually one too.