Hashemian Blog
Web, Finance, Technology

Gold Keeps Rising

by @ 12:07 am
Filed under: financial,money — Tags: ,

goldIt seems like there's no way of stopping gold from its upward march. Even with the stronger dollar today, gold surpassed $1,410 an once, setting a new price record.

Clearly the market is nervous about the world economy and the dollar's viability, so it keeps pouring money into gold. As with everything else, at some point, if not already, gold will become a bubble and it will crash. Of course that threshold is unknown, it could be next week or next year. It could start deflating now or it may continue to $2,000 an ounce before it implodes.

Right now, as things appear, gold seems to be a safe bet, so chances are that it will keep on climbing. But beyond $1,500, it could be considered over-bought and the risk of collapse becomes a real concern.

Gold to $800/oz

by @ 10:45 pm
Filed under: financial — Tags: ,

Just read this article on Fortune about predictions of gold prices falling to $800-$900/oz in the next 1-2 years. The justification being that with the world markets stabilizing, investment in gold will no longer be viewed as a prudent choice and investors will abandon the metal for more rewarding bets.

I don't see these predictions holding much weight. The fundamental issues that led to the most recent financial crisis are still largely unresolved, albeit temporarily patched, debt levels are still sky high and there are political uncertainties in Europe and US.

At $1,200/oz gold may be over-priced for a stable and calm world. Ours is anything but, and as long as that continues so does the marching onward and upward of gold prices. $2,000 may be a stretch but $1,500 is definitely within a striking distance.

Powered by

Read Financial Markets  |   Home  |   Blog  |   Web Tools  |   News  |   Articles  |   FAQ  |   About  |   Privacy  |   Contact
Donate Bitcoin: 1GfrF49zFWfn7qHtgFxgLMihgdnVzhE361
© 2001-2021 Robert Hashemian   Powered by Hashemian.com