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STI vs GOLD

laggards!

 

Then Goldman Sachs and JP Morgan are very blind too...

JP Morgan Joins Goldman Sachs In Upping Gold Forecasts

LONDON (Dow Jones)--JP Morgan (JPM) has become the latest bank to up its forecast for spot gold prices, hiking its estimates by a whopping 39% and predicting the precious metal to reach at least $2,500 a troy ounce by the end of the year.

This is almost $800/oz higher than current levels, which represent an all-time high.

http://online.wsj.com/article/BT-CO-20110808-714003.html


 

JP Morgan Warns Gold to Go Parabolic and Rise to $2,500 By Year End

 

J.P. Morgan now sees gold prices at $2,500 a troy ounce by year-end, while Goldman expects gold at $1,730 in six months and $1,900 in 12 months.

This may be a sign that the current sharp rally may have reached its zenith as neither bank has a great track record regarding short term trading calls on commodity markets.

In the short term there is the risk of a correction as gold’s rise is now becoming front page (on front page of FT today) and headline news.

The fact that silver has fallen in recent days and remains below $40/oz and the fact that gold mining equities have also not risen may also be a warning signal.

Gold has risen from below $1,500/oz to nearly $1,800/oz in 5 weeks (since the start of July) and is up nearly 18% in dollar terms. 

Therefore, in conventional terms gold is most certainly overbought. 

However, we are not living in conventional or normal times and the ongoing global market crash and global currency debasement means that there is a chance that gold will go parabolic as it did in the 1970’s.

Investors would be prudent to continue to make the trend their friend and any pullback should be used to buy the dip.

http://www.zerohedge.com/news/jp-morgan-warns-gold-go-parabolic-and-rise-2500-year-end

Time is different this time round... diminished QE effect , high debt , record unemployment , failing banks ....

ANGMO HELL LEVEL 18 is the best hope

Cheer


 

 

You think so? When is QE3 announced?

Salute      ( Date: 10-Aug-2011 23:53) Posted: May be when QE3 announced , it will drop to 1665. then soon another problem comes and will go up, and higher low and higher high from now on. looks like it

 

May be when QE3 announced , it will drop to 1665. then soon another problem comes and will go up, and higher low and higher high from now on. looks like it

 

 

i was still thinking of bullion but seems like the price is too inflated. 

 

Anyone saw the gold chart? I believe the people are buying blindly by going to gold and jewelery shop to load up. Those who sold is a wiser choice. Those who bought, good luck. Gold still has strength, but soon it will show it's true colors. Watch!

  http://stockmarketmindgames.blogspot.com/2011/08/sti-vs-gold.html