Post by
frankman on Jul 11, 2015 9:13am
Gold to sink to the $1K level + advice to gold stockholders
This is of course way below current production cost levels for many miners. Of course the uncertainties lie with the world economy and it has contracted. Inflation use to be a stimulator for gold as a hedge but is almost non-existent today. The U.S. will start to raise rates eventually but this won't help gold much as the rate raised will be a tiny fraction at a time.
Gold carries no interest rate and offers no coupon but U.S. treasuries and the U.S. buck will benefit even though we all know about the U.S is printing money like crazy and the debt is ever present. World gold inventories are high right now, but with reducing production levels in years to come should start to support gold again
I see gold suffering at low levels for at least two years. By then many gold miners will have failed or merged at rock bottom share price values. Take profit on any gold miners you have right now or look at tax losses if you show capital gains in other holdings to reduce your taxes. In Canada you should be maximizing your TFSA for stock holdings.
Comment by
mattbigham on Jul 12, 2015 11:32am
I wonder how somebody like you posts such nonsense and you can live with yourself,afterwards. What a load of fear mongering B.S..
Comment by
pdcon1 on Jul 12, 2015 2:34pm
you probably sold in march and now are a bottom feeder , check it out for yourself