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Message: Price of Gold

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Price of Gold

posted on Jun 05, 09 01:07PM

We are printing a lot of paper. This paper has been put into banks and industrial companies to produce products and services. This money if not properly adjusted to productivity will bring about huge inflation. I'm betting that India and China both holding a lot of our cash would want to safeguard a chunk of it by buying GOLD. This would put pressure on gold to rise. There might even be a bidding war for the gold. I see a 30% adjustment in our currency. We should be able to see at least that much without a bidding war. This should take Gold to at least $1200 as one poster mentioned earlier. With Gold at $1200 we should see a lot of cushion in getting out our gold at the mine. I'm looking at a price for our stock to be around $1 in the coming year. We might even see it later this year. These are the stuff of dreams.



Good luck to us longs. I've held on since 1992 and have not regretted it yet.



Mike

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