Last chance for gold under $1000? 2009-09-13
Sunday 13th September 2009 at 22:40 BST:
The market seems enthusiastic to push gold above $1000 but some analysts are now not so sure:
Bob Hoye on http://www.howestreet.com/ expects that gold and silver prices have had a good run but that it may come to an end with the gold:silver ratio going up again as silver and other commodities fall relative to gold in another deleveraging this autumn. He expects gold to outperform silver if we get another credit crunch and a fall in most markets. Bob is a witty and very wise market expert, very laid-back style, almost horizontal!
Discussion here: Autumn Anxiety *AUDIO*
In the goldseek radio Dr. Marc Faber & Chris Waltzek discussion, Marc Faber said that he thinks there is a bit too much enthusiasm for gold right now at $1000 to make this the big move in gold.
This is a page worth bookmarking, the Goldseek radio nuggets page with the main commentary by one individual expert: http://www.radio.goldseek.com/nuggets.php
David Morgan on http://www.financialsense.com/fsn/main.html newshour 12 September 2009 first section says he thinks that maybe this might not be the last ever chance to get gold under $1000 for similar reasons.
One of the main reasons for the scepticism is that the gold and silver COT (Commitment of Traders) are showing more or less record commercial short positions, usually the sign of an interim top. The above events may possibly influence the price to the upside, so is a commercial signal failure followed by a large upward spike in gold due to short covering (a short squeeze) possible? Hear Ted Butler on King World News and John Rubino on www.Howe Street.com.
Ted Butler September 12th: Ted Butler on the Metals Market
John Rubino on Howestreet: Gold Roundup *AUDIO*
Also on Goldseek: COT Gold, Silver and US Dollar Index Report - Septemer 11, 2009
However, Dave Skarica on Howestreet thinks that it's a A Bullish End To A Wild Week *AUDIO* and he thinks that gold has had its breakout with the gold stocks breaking out too (given the performance in the HUI Gold Bugs' Index). See his charts in an Acrobat Reader .pdf file next to the broadcast link. He can really talk! Very interesting. 'NG-AU-AG-HUI all had a strong week Click for Dave's charts.'