Current view:
Phil,
If you think that gold can drop to $300 (historical lows)and stay there - or even go much under $580 then - to quote The Castle - you're dreamin'!
Things positively affecting the POG long term:- US$ stuff long term
- Global economic uncertainty usually lead to gold as a safe harbour
- Developing countries such as India have a great penchant for gold that follows in the wake of their larger affluence
- Cost of mining and processing gold has gone up, meaning that marginal projects will not get funding to start 2008-2009, leading to supply not keeping up with demand if the price drops further
I can't see anything else to do than be contrary to the market if it is acting irrationally. I may lose money short term, but sanity has to prevail at some point.
Cheers
- Forums
- ASX - By Stock
- GOLD
- is the selling momentum running out of puff
is the selling momentum running out of puff, page-13
-
-
- There are more pages in this discussion • 14 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)