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Goldman Hikes Its 12 Month Gold Price Target From $1,735 To $1,830
The first of many gold price upgrades is here, as Goldman's David Greely finally catches on to what has been all too obvious to anyone with a frontal lobe: "Gold prices hit a new record high last week, closing at $1,663/toz on August 3. Despite this rally, the rise in gold prices has continued to lag the plunge in US real interest rates, with 10-year TIPS yields trading below 30 bp. With our US economics team lowering their outlook for US economic growth, implying US real rates will remain lower for longer, and with sovereign debt issues in both the United States and Europe intensifying, we are raising our gold price forecasts to $1,645/toz, $1,730/toz, and $1,860/toz on a 3, 6, and 12-month horizon, respectively." Next up: everyone else.
Note summary:
Gold prices rise to record high as 10-year US TIPS yields plunge to a record low
Gold prices have rallied strongly since the beginning of July, rising 12.2% to a record (nominal) high close of $1,663/toz on August 3. While the rise in gold prices has been sharp, it continues to trail the fall in US real interest rates. In particular, 10-year US TIPS yields plunged from 77 bp to a mere 24 bp over the same period, according to the US Federal Reserve. Consequently, despite this rally to yet another new record (nominal) high, we believe that gold prices will continue to rise as: a) 10-year US TIPS yields are at an historic low; b) a diminished outlook for US economic growth suggests US real rates will remain lower for longer; c) gold prices in inflation-adjusted terms remain well-below their 1980 highs; and d) sovereign debt concerns have intensified in the United States and Europe.
Raising our gold price forecasts as the diminished outlook for US economic growth suggests US real interest rates will remain lower for longer
We had expected gold prices would continue to rise through the middle of 2012, when we expected rising US economic growth would push real rates higher and gold prices lower. However, with our US economics team now lowering their outlook for US economic growth to 1.7% in 2011 and 2.1% in 2012, we now expect real interest rates will remain lower for longer, and we are now raising our gold price forecasts to $1,645/toz, $1,730/toz, and $1,860/toz on a 3, 6, and 12-month horizon, up from our prior forecasts of $1,565/toz, $1,635/toz, and $1,730/toz, respectively. Net, this revision in effect pulls forward the higher prices we expected on a 6 and 12-month horizon – as US economic growth has been slower, and US real interest rates lower, than previously anticipated – and extends the upward trajectory for gold prices through 2012. Further, the recent escalation of sovereign debt concerns suggests that the near-term risk to our new forecast is skewed to the upside, and we continue to recommend long trading positions in gold.
And full note:
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global markets buying the fucking dip as I type--> CHECK. Crookedman & Ass say buy gold--> CHECK. Sell overpriced yellow fishing sinkers: CHECK!
"With money in your pocket, you are wise and you are handsome and you sing well too."
- Yiddish Proverb
D.O.D> trim those sideburns!
""With money in your pocket, you are wise and you are handsome and you sing well too."
- Yiddish Proverb"
I imagine a stylish individual that fits that proverb would need a dapper ensemble compliment as pictured here:
http://www.rtoproducts.com/bull-canes.php
I FART DUST>>>
http://maxkeiser.com/2011/08/07/james-turk-interviews-jim-sinclair/
James Turk interviews Jim Sinclair
Posted on August 7, 2011 by stacyherbert
.
$1830 will last for a nanosecond, it has
been suggested.
We're about to breach $1700 right now.
2343 EST - $1700 breached.
If gold stays on this trajectory, we may pass $1830 sometime tomorrow afternoon.
these guys are sharper than marbles.
Bowling balls, I say.
Government sock puppets - like little Timmay Geithners - running amok on Zero Hedge lately.
Fortunately, they're incredibly idiotic, no matter what one of twenty IP addresses or screen names they're using, and easy to point to, ridicule and laugh at.
I know it's early in the game but ya'll going to have to do better then this. At this rate we're only sitting on the lower channel line (projecting the SPY % wise anyway) but yea, it is early and this pig could split wide open any minute no doubt.. Interesting times indeed. I'm a gambler and talking my book so don't be hating on me. *pours another scotch* and may the best man win.
as usual they upgrade to the 'gimme' number designed to dampen investors' enthusiasm for it's real potential
A 1oz American Gold Eagle on your Credit Card will cost you $1,850.50 at Apmex.
If you lost your job and couldn't pay the credit card company back it would be like.... FREE FUCKIN GOLD!!
And perhaps a life time of fucking paying for the moment of free fucking gold.
Eh?
Not really. Change your phone number and don't list the new one and you're golden. Default is ALWAYS an option, despite what certain witch doctor economists claim.
After all, Iceland defaulted, and turned out fine.
We Must be back on that Legacy Server !
ZH runnin like a "Cheetah"
AA+
Shiny.
& eur/aud burns.
Gold Maple on Bullion Direct's Nucleo Exchange $1767.50 with the clearing fee. Oh shit! There goes that!
Clearing fee?
Ahem... that will eat you up if you dont price that into the coin appropriately.
cKEARINGfEE YA TOOL! i,M TRADing Spot! Look 2 spyders ya tool!
Hah. Spiders is full of it.
Nothing like a simple Ask, Bid list to keep things straight. BD's spot is too expensive anyway, there are like 500+ asks that can be gathered off the floor for 1 to 2 dollars or more less than BD's spot.
this Au move is freakin me out...i smells a takedown...
right, of course.
it is the trend, not the spot.
the trend.
freak out !
the trend...of course...i agree...im just sayin if you're trading paper this looks like a nice opportunity to get out, buy back later...(into the trend as per your infinite wisdom)
there is none so blind as he who will not see
i will not see and am therefore
blindman, i am willing to wait
to know and wonder concerning wisdom.
there, the best i could now do.
very nice
Fade the trade/ on my lap! Williams curve / Boy/
exactly
qe3 sir
.
I don't see how they can stop the moves coming without getting seriously hurt. More people are going to be buying gold and more will be taking physical delivery. And Asian markets are open. Any depression in gold might come from people forced to liquidate positions and I'm a buyer there.
But trying to stop gold now would be like stepping in front of a freight train. Turk says they shot their wad already, at $1500 which was their firewall, and failed. They might try here, but I think it'd be weak. The gold vs paper war it's pretty much over, even if they haven't surrendered.
As the defaults are sequentially announced in Europe, and the bad news gushes, the sheeple will awaken and move from economic amnesia straight into economic panic and PMs. Instituional investors will have to move into PMs positions.
Jim Sinclair says the big technical point to clear is $1754, thereafter, gold can easily start to move daily by $100 into the $3000-5000 range. We'll see.
It's going to happen betcha. Regardless of what spot is. Delivery is King, the rest is hooey unless you have control via online.
And that silver set you have in the dining room is not the silver we are looking for.
Tripple bottom and shut your mouth! OUTside close! Idiot!
.
Goldman Sucks, too conservative and too late on gold, but were plenty optimistic and early on the "recovery".
Not much from them, except: kills talk of a gold bubble, begins process of lowering paper notes to status of barbarous relics.
GS gold call also ought to hit JPM and HSBC right between the eyes if they're still all sitting on silver shorts.
Ron Paul to Ben Bernanke: "Is gold money?"
Ben Bernanke: "Apparently....apparently, it's better than money."
1696.00 $
per oz
It's hysterical how many people are saying $2000 on the finance media outlets yet just 6 months ago you'd hear nobody but "gold bugs" saying that. I guess they're losing their religion.
Where is the $1700 print?
They did the same thing back in the 400 dollar days. No internet or Satellite back then, just Newspapers filled with articles questioning the gold. Blah. Same old same old.
You buy low and sell higher at a profit minus your costs.
That's it. All the over paid experts panting about this and that is full of it; essenttially a Tribe of Cramers if such a thing is possible.
Predictions for GDX tomorrow anyone?????
Hike, Hike, Hike... targets... PHOOEY!!!!!
[rant]
Stupid bunch of Munchkins playing at making work. No one knows what the future holds in Metal. I sit today and watched silver grind upwards towards 45.00 and gold long gone past my own number.
It's all great when everything is looking up. It's a bitch when things dont go as planned.
[/Rant]
I recall a talking head yabbering about 1600 gold by Christmas one night a week ago and we hit it spot on a few hours later and blew past is the following day.
You arè on my SHIT LIST!
jeebuz...seriously check out the past few days of Au trading...im bullish longer term obviously but wtf look at this move...i would be shocked...shocked i say if Au is not smacked down at 1700...
I have a prediction ! </ tools are on<> my shopping liST~V
The whole fiat system of only 40 years age does not stand a chance when it comes to a store a value as gold, which has been around for thousands of years and represents sound money rather than worthless paper.
Check out the latest from the Capital Research Institute (CRI)
"It’s Time for Sound Money" www.capitalresearchinstitute.org
since max's site is being hammered here the other link
to the sinclair interview.
.
Jim Sinclair interviewed by James Turk
http://www.goldmoney.com/video/sinclair-turk-interview.html
.
http://www.youtube.com/watch?v=IF24atvNkSo&feature=player_embedded
??? $1735 ???
That's their prediction for Monday, right?
you sure that aint timbo in drag?!?
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