RE: Article fyiI will say this then drop it. I remember getting slammed by someone who said this after I suggested gold will drop back to the mid $1500's:
"Really? Are you going short gold? Do you know something about the
globaleconomic climate others don't? Do tell
Mermoo. LOL Take a look at the 10yr chart. I don't think your prediction has legs."
It is safe to say the price will not stay at this level but the question is where from here? Europe and the US have to figure out their budgets. If they do the price will come down a little more but probably remain a fair amount higher than the 2001 start. If they don't the price will go back up. Even if the economies of the world suddenly take off this will only increase the demand for gold in manufacturing uses. I guess I should have shorted it huh? I love the reporters like in this article who only look at the last 10 years and then call that history. To properly project the price changes you need to look at other historical trends as well not just the last 10 years. Remember at least two times in history they said the price of houses would never go down. I guess the "professionals" really know their stuff. They ignore truly historical data and then repeat the same mistakes. OK now that I got that off my chest I await the next good news from Ruby.