Pros Say: Gold to Spike to $3,000

[Bruno]

Still opportunities to buy while we see this short-term price decline.

http://www.cnbc.com/id/29362191

[Agent CSL]

Amazing. Just last month they were LAUGHING at the people who said gold would go to even 2,000.

[ItsTime]

So this means it wont?

[muh_roads]

So this means it wont?

Exactly.

The day everyone is talking about gold and silver is the day I sell...just not for FRN's.

[JoshLowry]

So this means it wont?

I think the central banks have lots and lots of gold that they will dump to try and keep the world economy afloat.

[Rock Sexton]

I think the central banks have lots and lots of gold that they will dump to try and keep the world economy afloat.

Of course.........that's the fiat lovers final punches before their system collapses completely.

[Zippyjuan]

Amazing. Just last month they were LAUGHING at the people who said gold would go to even 2,000.

It isn't even near $2000 yet. These are things people were saying in 1980 as well. Gold peaked at $850 then and did not get anywhere near that level again for almost 30 years. Allowing for inflation it still hasn't topped that price (equal to a bit over $2000 today). I bought some at as high as $750 back then.

When everybody starts talking about incredible rises in prices and the public is starting to get in on the action, it is time to get out. Think housing market.

[FreeMama]

Mike Maloney says minimum $10,000. . . I agree with him

[muh_roads]

It isn't even near $2000 yet. These are things people were saying in 1980 as well. Gold peaked at $850 then and did not get anywhere near that level again for almost 30 years. Allowing for inflation it still hasn't topped that price (equal to a bit over $2000 today). I bought some at as high as $750 back then.

When everybody starts talking about incredible rises in prices and the public is starting to get in on the action, it is time to get out. Think housing market.

To be fair though, the 80's were a different world back then. It took 30 years because the economy was still in decent shape. Americans owned the majority of 30-year T-bills whereas today it is the Chinese & Saudi's that own the 2-year bills.

Once they finally have had enough of lending us money that they know we can't pay back the problems will really begin.

[Zippyjuan]

We had higher unemployment (about eight percent) than today and double digit inflation to go with it. The Savings and Loan crisis where 1000 institutions closed down was just getting started. GDP was declining. Yes, it was different then.

[voytechs]

We had higher unemployment (about eight percent) than today and double digit inflation to go with it. The Savings and Loan crisis where 1000 institutions closed down was just getting started. GDP was declining. Yes, it was different then.

Unemployment is at 18% today:


We're still deflating and its come down quiet a bit.

[DFF]

The DOW would need to shed another 2000 points for this scenario to be plausible (or if the long talked about COMEX default occurred). As far as those thinking about getting out of gold because the "pros" are endorsing it don't. It will continue to rise. MONEX predicts 1,250 an ounce later this year. And don't forget silver. $20-$30 an ounce isn't out of the question.