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Tuesday
Feb232010
Gold Poll: The Grandich, Soros, Nadler, Challenge
We are conducting a poll on where gold will go next, to $1000/oz or to $1200/oz.
As you are probably aware Peter Grandich has recently doubled his bet with this release:
Posted by Peter Grandich at 8:25 PM on Sunday, February 21st, 2010
Hello Perma Bears!!! I’m doubling my wager to $100,000 and its good for the next 72 hours.
I hope they can learn of my offer before they head for the hills.
Go Gold!
His previous challenge read as follows;
I will wager $50,000 U.S. Dollars that gold closes above $1,200 before below $1,000 basis the Comex spot price. I challenge gold perma bears like Kaplan, Nadler and Soros to be the first to put their money up where my mouth is.
As suggested by one of our readers, Ryszard, we should conduct a poll, so this is your chance to vote on it and we will see just how many bulls and bears we have.
Go for it.
All the best.
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Reader Comments (17)
I have one small (big) problem, how much do I trade knowing it's going to reach $1200 first. From experience, no matter how good the prospect seems I'll not be betting the house, so I'll go with my normal size trade and be happy to get some profit when it reaches $1200.
Ryszard,
Never bet the ranch and always be able to fight another day.
And how about voting?
Ryszard,
But I guess that you already have as it was your idea!
Team,
The vote so far is 19% for $1000/oz and 81% for $1200/oz, just click on results to see the latest score. We have not voted btw.
Team,
A few more bears have cast their vote so its now 24% for $1000/oz and 76% for $1200/oz, just click on results to see the latest score.
I see one of Soros funds made a huge Gold ETF prchase this month.
http://www.myloansconsolidated.com/2010/02/24/george-soros-the-ultimate-bubble-is-gold-and-still-buys-gold/
it will reach $1,000 first
Hi All,
Having 15% of your Liquid Assets in GOLD and PLATINUM will secure any Mishaps of Currency Markets which is happening now. GOLD will certainly outperform Stock Markets for the next few years. On Conservative Basis, I think it will touch 1300/Ounce in this year. I will keep my self safe with this stategy.
Just to muddy the waters a little, my own analysis points to gold reaching about $1170 in the short term. Anybody got other price targets.
Greetings!
Those of you who read my archived articles at 321gold.com know I'm no stranger to these golden shores, though I've not Internet published much in the last two years, swamped w/my "retired" life, busier than ever, so it seems!
Anyhow, As I forecast at rense.com last year, I expect G to hit US$ 1,300.00 before Christmas 2010. I remain fully invested in Canadian junior miners & explorers, the last best place to make a fortune in times of crisis.
I voted for $ 1,000 first, but who cares, in the long run Gold will go much higher than $ 1,200. Other peoples' money has long run-out for supporting Central Governments' debt monsters. We are now left with spend, extend and pretend solutions backed by the monetary printing press. In spite of the warnings, the World's economic Titanic has ignored the obvious dangers, and with a gaping whole in its hull and two few life boats, attempts in vain to keep the passengers happy and avoid the inevitable sinking.
1200 this year? Yes. Over the long run those now rumored very high prices will likely materialize, but, as Jim Sinclair opined a few years ago,
"You Won't Like The Reasons for it"
William in Canada
Team,
The vote has moved slightly with the bears moving up to 23% for $1000/oz and the bulls at 77% for $1200/oz, just click on results to see the latest score
Team,
The vote has moved again with the bears moving up to 27% for $1000/oz and the bulls at 73% for $1200/oz, just click on results to see the latest score
Team,
The vote has moved again with the bears dropping back to 25% for $1000/oz and the bulls at 75% for $1200/oz, just click on results to see the latest score
Team,
Sunday and theres no change so it looks like the bulls out number the bears about 3:1, well we will soon know for sure when gold prices pop one way or the other.
Team,
Its 09 April 2010 and gold prices are at $1149/oz, giving the bulls the advantage for now?
Any comments, updates you would like to add?