GREY:PTQMF - Post by User
Comment by
Libertygon Apr 08, 2011 11:41am
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Post# 18404919
RE: Gold racing towards $1500
RE: Gold racing towards $1500Gold Bubble? Comical. Why not a bubble? WHO WANTS TO OWN DOLLARS? The only thing that seemingly could cause a correction now is Fed raising rates, and giving the "impression" of tightening. That would be short lived at best. Rates will go up regardless of the Fed, but Gold will continue far higher based on lunatic government and debt loads. Golds next target on the upside would be 1500.00 - 1525.00 area. Silver to 43.00 area is next target. Holding todays gains would signal the next target areas are being attempted.
Remember for Gold and Silver, and the stock market in general to be in a bubble, the dollar would have to be a viable investment. It's NOT.
A correction will come and it may be pretty sharp, but it will only set the stage for the next big up leg, unless complete change in government and Fed policy is reached and adhered to. It won't happen in the long run.