But, before we all give up, have a read of these quotes below.
"Gold is down $300 from its peak and other precious metals (Platinum, Silver, Palladium, Rhodium) are down by up to 85%.
The question is not whether the Gold Bull run is over as it's obvious it is finished. The question now is how low will Gold go in the the Gold Bear market.
In this bear market many higher cost producers (South African deep mines) will be forced to close and funding for new Gold mines will be almost impossible to get. Gold hedging will probably return as it will be needed by many miners to survive.
I hope everyone enjoyed the Gold Bull market while it lasted as now its over."
"Without inflation and a stubborn $US dollar(don't under estimate that), gold will struggle in this asset sell off."
So, when were they written?
When gold was about $720 US and it was just about to run through $1000 on its way to $1900.
At the bottom is the thread number and the date etc..
The point is, you could see exactly the same words today - exactly.
To me, absolutely zip has changed except all the conditions are in place for a good explosion of even bigger magnitude.
The sentiment is exactly the same, the conditions are far worse.
Anyone want to argue with history?
Have a great day all.
Pinto
Post #: 3487301
13/11/08 06:57 (View) Post Reply Back (0) Report Post
