[Chart] Financial analyst gold price forecast failure 2007-2011
Another sign that we're not in a bubble yet. Analysts would project insane price targets rising to eternity:
Found the chart here:
http://dailyreckoning.com/this-x-fac...f-gold-stocks/
The author correctly notices that these price projections negatively influence the performance of pm miners.
Peter Schiff said gold was going to hit $2000 in 2009. http://www.goldstockbull.com/article...-gold-in-2009/
Now is saying $5,000 (without a timetable this time). http://www.moneynews.com/StreetTalk/...1/21/id/465024
He also said that in 2009. http://www.dailyfinance.com/2009/09/...but-is-he-rea/
True, Schiff didn't say it was a certainty -- just that it wouldn't surprise him if the yellow metal hits that level in the "next couple of years."
Freedom is a state of mind. Nobody can take that from you unless you let them.
It's funny, you can almost put dialogue to it:Originally Posted by swissaustrian
Another sign that we're not in a bubble yet. Analysts would project insane price targets rising to eternity:
DEAR GOLD DIARY, WE PREDICT:
2007: A small one year uptick, followed by a three year steady fall.
2008: Correction: Two years of flatness, then a slow steady fall.
2009: OK, fine, let's go back to a one year uptick, one year flat, then a steady fall.
2010: Alright, this is bullshit. Just one more year of an uptick, but that's it. Big fall afterward.
2011: SHEESH! OK, one more year of climbing, but then a slow-down to a stall, followed by a crash.
2012: ::: sigh ::: Well, at least we continued to get the one year climbing part right. One more year of that, followed by a steep crash.
What's really interesting is that if you follow the trajectory of the last four curves, they all converge on ~$800/oz. Forecasting from a prior assumption?
I have no real idea , except that it will be more than I paid and probably more than I am paying now ....
And if I am wrongWife , gets a nice new hot tub when I am gone, it will never be worth what my GM stock was ....
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