Is gold going to go up or down.

[gwozhog]

Gold has been on a rollercoaster ride this summer. Anyone have any input on how it is going to end up this year?

[gmh1013]

I will bite...I think we are heading for another recession...but have been in one since fall of 07.
Its way way to high imho......I would guess......down along with everything else.

[Gagebuilder]

Originally Posted by gmh1013

I will bite...I think we are heading for another recession...but have been in one since fall of 07.
Its way way to high imho......I would guess......down along with everything else.

On MSN today, they said the recession is officially over.

"We can now start the second one." were my thoughts ...

... as for gold, I'm still battling in stocks, that rollercoaster has been even more fun, but I'm winning .... so far.

[Andad]

Don't ask me.

Ask someone who bought it at 1900.

[JUSTROLEXES]

It will go back up but Gold is not a long turn IMO... It's a hit and run

[Watch Professor]

yes

[Grissom]

Myron, I concur!!

[Rolex_Guru]

The only time Gold has gone down is when the crooked CME raised margains everytime. Thats what they won't tell you. It's funny they won't tell you the sell off was forced because of margain hikes.

Here is the best explanation. It was done to crush Silver when it got to $50 and forced selling back to $30.00.

Fear of a dollar collapse:
“Mom and Pop” investors went into the silver market to protect them from the falling dollar, brought on by the enormous $14 trillion online and $160 trillion offline debt this county has amassed.
Fear of the dollar collapsing made the price of silver begin rising, and it kept rising so high that it could not be stopped by the banks: if the price of silver was not halted, the banks would have to cover their massive concentrated short positions by purchasing silver at market prices or go into default. The problem is that there is not enough silver above ground to cover there short positions, totaling almost three years of world mine production. If they had to cover (purchase silver), the price of silver would have jumped to $5,000.00 per oz within days.
They instead went to the CME and told them of there impending default. This would have also been a default by the futures market, as the COMEX was in danger of this short side collapse: who would ever buy from an organization again that cannot deliver, and let illegal concentrations go on for years?
To save the COMEX and the banks, the CME introduced higher margins, requiring every longs position to put more money down to keep their bets. The CME did this eight times in a single week, raising margins up 84% to hammer down on longs and make them sell; after the seventh time it worked, the CME was saved and the banks were bailed out again.
One trader said, “We had to save the banks, it was TRAP money they used to short the market.” In other words, it was our money on both sides of the trade.
This action by the CME marks the beginning of the end for the COMEX as a viable exchange. There was no orderly regulation of the market, but only the airplane effect: “when the mask drops down in front of you, you take care of yourself first.” It also made obvious that markets are rigged; there are no free markets, and anyone that believes otherwise needs to look no further than the events of the past week.

[yannis]

Better than stocks. It has historically been proved as a good and safe investment. However, it would have been better if you have invested a few months (or a few years) ago.