Any predictions for August 2011?

[jim4silver]

Yep. Gold closed around $1567. an ounce. I was 9 dollars off.

Next week...It will continue its spiral downward. It is simply overpriced and over-hyped.

Actually gold closed today at $1657.20 and also I've never seen this gloatting side of you before, maybe it's time for me to ignore your auctions and I'll use your favorite slang Hmmmmmmmmmmmm

Not speaking specifically about Cappy, but in general I find it funny to watch the PM bashers come out whenever there is a correction. Sort of like they knew some secret for years that PMs will fail and they are having their day. You don't hear from them when PMs are making record gains each year. For example, silver is up 46% from one year ago. So that even after the great correction of these past 2 days, silver is still up 46% from one year ago. Can you get those gains having cash in a bank account or CD. How about those stocks? I don't have a 401K or IRA, but those that I know who do are scared to see what their next statement will look like. At least with physical metals you know if is never going to zero like any and all paper assets could possibly do.

Silver lost a huge amount in two days. That is not "normal" market behavior. Silver is a very volatile market but that is too much even for silver. At some point in the not too distant future PMs will surge past their recent highs and the PM bashers will go away until the next correction. Let them have their day now and celebrate.

Jim

 

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[Cappy Z.]

Actually Twinkies would be a a safe investment. Gold will close DOWN again today....probably below the 1700 mark..but I'll 'invest' saying it will close the day at about 1666. Let's watch and see as the bubble burst.

It's noon..and Gold is BELOW my projected $1666. Hmm?

Marchas, I mis-typed..I actually did post $1666, not 1566. Anyway allow me to clear this mis-communication up. I am not gloating about anything. I am not familiar with PM? And, I have not come out of the woodwork to rub salt in anyones wounds. I apologize if this is how what I posted was/is perceived. Apparently I am not up to par on the learning curve or educate of this thread. Again, I do sincerely apologize.
However, I am well read and a researcher. I have said from the very beginning that I believed a Gold bubble was growing. Now if I appear to fine too much 'joy'? in being somewhat correct, it isn't meant to be at anyone's expense. Having said this, please cut me some slack as I am simply being a participant of TN.