Thread: Gold bubble about to burst?

Gold bubble about to burst, says Oppenheimer's Belski

By Hilary Johnson
June 18, 2010 4:06 pm ET

Almost forty years after the U.S. officially abandoned the gold standard and its $35-an-ounce peg, the price of spot gold on Friday reached $1258 an ounce, another record, on Friday.

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The uptrend won't last much longer, one analyst predicts.

Brian G. Belski, chief investment strategist at Oppenheimer & Co., wrote in a report that even on an inflation-adjusted basis, gold prices are higher now — two standard deviations above their long-term averages —than they've been since the early 1980s, when the U.S. was experiencing double-digit inflation.

The metal is also “out of whackâ€

The Gold Bubble
Jul 9, 2010 ...
After watching the gold market for some time, I'm convinced that gold is in a nascent bubble. This blog will watch the gold market, ...
http://thegoldbubble.blogspot.com/

When you see that the current level of "buy gold" advertising slows or stops...sell all your hard assets of metal.

The last big push back in the 80's was "hell...it might go to 2000..." It made it about half way there at around 1100 I think. So...if you use the math...the new "hell...it could go to 5000..." you might think it will make it to 2500. But I don't think so. I think it is a good time to start watching for a sell off. I have some silver and am thinking about selling it off. Maybe I could start a down trend by dumping all my holding!

Originally Posted by hardlineconstitutionalist

When you see that the current level of "buy gold" advertising slows or stops...sell all your hard assets of metal.

The last big push back in the 80's was "hell...it might go to 2000..." It made it about half way there at around 1100 I think. So...if you use the math...the new "hell...it could go to 5000..." you might think it will make it to 2500. But I don't think so. I think it is a good time to start watching for a sell off. I have some silver and am thinking about selling it off. Maybe I could start a down trend by dumping all my holding!

This is one of the smartest posts in a long time. This is why all the people that think that the Messiah Beck is a genius. How many morons are currently screwing themselves because of Beck and his gold investment sponsors? At this point, the time to buy gold was in the 90's, which is when I advised my stepdad to invest. He though I was a silly teenager. I'm sure he's pissed now!! If you buy metals now, you are not a smart investor. What you need is FOOD!!! This country is 1 step away from complete annihilation. You are going to want things that you can actually live on. Beck has made so many millions off of idiots, he doesn't have to worry about survival when the poop hits the fan.

Anyone who is buying gold now at these inflated prices is only helping to inflate the bubble.

Gerald Celente says gold will be an $1500 by years end.

Gold Prices Drop Ahead of Data‎ - 2 hours ago

By Andrea Tse 07/12/10 - 03:43 PM EDT

NEW YORK (TheStreet) -- Gold prices soften as investors await a spate of global economic data reports this week and ...
TheStreet.com

http://www.thestreet.com/story/10803358 ... en=GOOGLEN

MMTC expects gold prices to drop - chief

NEW DELHI | Wed Jun 9, 2010 12:50pm IST

NEW DELHI (Reuters) - MMTC Ltd expects gold prices to fall by 10-20 percent in the next few months, its head Sanjib Batra told reporters.

(Reporting by Nidhi Verma; Editing by Unnikrishnan Nair)

http://in.reuters.com/article/idINIndia-49160320100609

MMTC Limited, (A Govt. of India Enterprise)

is India's Premier bullion trader, handling more than 100 MTs of Gold & 500 MTs of Silver. ...

http://www.mmtclimited.com/frame.php?ur ... /index.htm

Originally Posted by DarthIllegal

This is one of the smartest posts in a long time. This is why all the people that think that the Messiah Beck is a genius. How many morons are currently screwing themselves because of Beck and his gold investment sponsors? . . .

I was beginning to think I was the only one who noticed that Beck pushes his sponsors product as news.