gold forcast of below 800, page-128

john,

1. I don't use just stocks, I use all manner of things to measure the health not only of gold but also things like the health of the local economy.

Some of the propaganda posted here by goldbugs is so removed from reality that these people can only have been getting their data from kingworld news.

The price of gold spiked exponentially last year, the final gasp of a dying market as witnessed since then.

2. You can draw any conclusion you like, but oil is a useful commodity, we need it or the world economy will die. We don't need gold. Even if there were no gold in Fort Knox, would it make any difference?

3. I don't know how you come to the conclusion that gold cannot go below $800 or so because producers would be out of business. A common fallacy here, if no one wants gold then the price will fall and the gold producers will fail, quite simple really.

4. Goldbugs think gold is money, I don't, it's shiny metal. A commodity, nothing more, nothing less, and one that doesn't have a dividend.
In ages past they didn't have credit cards.

5. Just because we're in a financial crisis doesn't make gold a 'must have'. Why is the price falling then? Less sales in India and the M.E., China may be on the brink and as I mentioned yesterday, if 1,000,000,000 chinese believe the feng shui forecast for precious metals for 2102 then gold is on its way down. We mine 2500 tonnes a year, they've got to sell that as well.
I don't see any respite for gold, the party's over.

I don't go short, I'm into looking after my cash which is why I still have mine and lots of others don't.