Australia's largest stock trading and investment forum Australia's #1 stock forum

GOLD

Click for more information

0.51%

$1,391.7 gold futures

Hi SP and all, This hirsute young chap clearly outlines his five...

First 21 Last

Share
Profile

Follow
AndyIgo

3,971 Posts.

185

01/09/14

20:24

Post #: 13907641
Share

Originally posted by siameseparrot ↑

No doubt Skol you would be cheering the gold price forecast I heard last night on Sky Business.

One of the analysts told us that Morgans has predicted US$743.00 (note that gold price to the exact 3 dollars!!)

The reasons given.

1. The strengthening US economic recovery. (Conveniently forgot to mention that the US consumer is tapped out and US consumer spending declined in July. Conveniently forgot to mention US job growth is based on US full time jobs being replaced with part time jobs.)

2. Rising US interest rates will lead to a strengthening US dollar. (Conveniently forgot to mention what rising US interest rates will do to an economy drugged in cheap money and drowning in debt.)

3. Of course US$743.00 is completely divorced from economic reality when it costs many hundreds of dollars more to get an ounce of gold out of the ground.

4. One of the Sky Business analysts also pointed out that US$743.00 won't be bad for Australian based gold producers as the Australian dollar will have also declined to 70 cents and told us that he had got his calculator out and worked out that in Australian dollars the price would be $1260, which he added was not much different to now. Try over A$100 which is very significant in view of the phenomenally thin margins the lowest cost Australian producers are operating on. However, it's a pity he couldn't have worked out something as simple as US$743.00 with an Australian dollar at 70 cents is NOT A$1260 as he told us, but just A$1060.

Expand

Hi SP and all,

This hirsute young chap clearly outlines his five reasons to hold Gold.

copyright link/finance/commodities/11035381/The-five-most-important-reasons-to-hold-gold.html

If anyone was wondering why the US is so concerned about the current turmoil in the Middle East then this infographic may help clear up a few things. If there is any truth to the USA being oil and gas self-sufficient shortly why not stop interfering and attend to a few of the problems closer to home; after all it’s not as though there aren’t enough things that need fixing.

http://www.mining.com/web/infographic-middle-east-capital-of-concentrated-wealth/

I am currently at my country seat in Yorkshire (Black Swan news items aplenty) and as bleak as the news is these days I’m pleased to report the Poms have not lost their sense of humor.

Please allow me to share the following from my Hungarian bar-man down the village pub:

German French relations:

The German chancellor and entourage arrived at Charles De Gaulle Airport Paris for a G8 conference.

At the arrivals desk the French official had some questions.

Name: Angela Merkel.

Occupation: Not this time we’re just here for a few days!

Cheers and very best regards: Andy
3 Upvote

0 Great analysis

Reply

There are more pages in this discussion • 178 more messages in this thread...

First 21 Last

Add GOLD (COMEX) to my watchlist