Chart usGOLD   Chart usSILVER  
 
Food for thought
We hang the petty thieves and elect the big thieves to office
Aesop  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1172.59-0.01
Silver 16.13-0.02
Platinum 1232.000.75
Palladium 788.20-1.55
WORLD MARKETS
DOWJONES 17391182
NASDAQ 463165
NIKKEI 16414756
ASX 550548
CAC 40 423392
DAX 9327212
HUI 156-8
XAU 65-3
CURRENCIES (€)
AUS $ 1.4228
CAN $ 1.4106
US $ 1.2521
GBP (£) 0.7830
Sw Fr 1.2056
YEN 140.6600
CURRENCIES ($)
AUS $ 1.1371
CAN $ 1.1268
Euro 0.7987
GBP (£) 0.6254
Sw Fr 0.9626
YEN 112.2900
RATIOS & INDEXES
Gold / Silver72.70
Gold / Oil14.81
Dowjones / Gold14.83
COMMODITIES
Copper 3.07-0.01
WTI Oil 79.20-1.32
Nat. Gas 3.890.06
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
Gold Setting Up a New Bottom
Published : February 26th, 2013
315 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 ) Print article
 
    Comments    
Tweet
Keywords :   Gold | Silver |

Gold is setting up a new bottom where I peg at $1550 and its next test of a new high will be $2000 by June July or later this year. It depends on the outcome of the US fiscal mess and the budget cuts.

We also feel that the US and world stock markets are threatening to crash which obviously is highly deflationary.

However making a bet, I believe the markets will not be permitted to crash. Therefore gold has a likelihood of hitting $2000 this year, or at least testing this and over the $1800 former high.

I estimate this a 65% probability.

Obviously, if the markets crash hard, then all the resource stocks crash too for a time. Gold would crash most likely for a time too. As would silver (I talk about gold all the time but silver is included to me so keep that in mind).

I suspect that the US will come up with some ridiculous compromise and the US stocks will at least be stable or even rally. This is gold bullish.
The outcome of the US fiscal sequestration the way I say here is 55%.

If US sequestration fails, I mean the avoidance of it, the chances of a major US and world stock crash in the months between now and July are 70 pct.

Overall the world has decided to make the central banks the guarantors of all markets for some reason. Why I can’t say. But according to my tracking of public reports, the world central banks have put out an incredible $35 trillion backing up markets of all sorts since 2007/8. Much of this was currency swaps between the US Fed and the ECB to support the Euro.

They have invested so much into this effort that I cannot help but think this must continue. So my gold prediction here is not hard for me.

 

Tweet
Rate :Average note :0 (0 vote)View Top rated
Previous article by
Chris Laird
All articles by
Chris Laird
Next article by
Chris Laird
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

Chris Laird

Chris Laird has been an Oracle systems engineer, database administrator, and math teacher. He has a BS in mathematics from UCLA and is a certified Oracle database administrator. He has been an avid follower of financial news since childhood. His father is Jere Laird, former business editor of KNX news AM 1070, Los Angeles (ret). He has grown up immersed in financial news. His Grandmother was Alice Widener, publisher of USA magazine in the 60?s to 80?s, a newsletter that covered many of the topics you find today at the preeminent gold sites. Chris is the publisher of the Prudent Squirrel newsletter, an economic and gold commentary.
Chris Laird ArchiveWebsiteSubscribe to his services
Most recent articles by Chris Laird
4/24/2013
4/23/2013
4/23/2013
3/22/2013
3/21/2013
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer