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Originally posted by FissionSurplus
My husband day-trades stocks, and he has been in a gold mine ETF and also with a gold mining company (JAG). He has been holding these positions for a while. He stated that the prices have been squashed abnormally low for a while now, and when that happens it is usually due to manipulation so that Big Money and their buddies can pick up this stuff cheap before it shoots the moon.
Now that Big Money has their mitts on these stocks at dirt-cheap prices, they can let the news out so all the retail investors jump on the bandwagon and drive the prices up. In fact, news like this is let out purposefully by entities such as B of A in order to guarantee the price jump.
As far as the actual physical gold, I see it shooting out of the range of most people. I still believe silver is the poor folks' choice, still affordable, and the price is still being kept down thanks to crooks like JP Morgan Chase.
Originally posted by oghamxx
Sounds a bit 'off'
"When the US went off the gold standard, prices went up from $35/oz to $800/oz." Over what period of time? 40 years? The AVERAGE price in 1967 was 34.95. It spiked briefly above 800 around 1980 but did not hold above 800 until 2008. And his "Equating the same performance in the current gold market, gold prices will have to rise to $5000/oz from its base of $250/oz." actually happening is IMO highly optimistic misleading cherry picking. In what year was the base 250?
"Until we see price action take some kind of massive speculative blow-off, where prices effectively double in a year or less, I have to maintain a long-term bullish bias. That says to me, we'll probably see a move in gold, before all is said and done, to between $3,000 to $5,000 (per ounce) and potentially $7,000 per ounce." - Source