After the Fed meeting today, what do you think of gold?

Question

Does Gold go to $1000 or $800? The Fed doesn't appear that it will raise rates soon in the hopes that the slowing economy and housing market will curb inflation on its own. I think gold may still go higher especially since the soaring oil prices have not yet found their way into CPI and PPI inflation numbers.

Answer 1

The economy is headed into a situation not yet experienced in our lifetime...Gold will do nicely until the bottom drops out and then when we're faced with food shortages, and fuel shortages and unemployment at levels that we can't even fathom.. Gold will become worthless...It will become a barter system...and Gold will be worthless...only to the greedy will it have any sense of worth...you can't eat, drink, burn Gold...

We can no longer pay the interest on the national debt, so in reality, we're operating on a bankrupt monetary system... How long is it going to take for people to wake up and smell the coffee?

It's burnt....

How long is it going to take for the smoke to clear and the dust to settle for people to realize this?

The reason it hasn't yet is because the Fed keeps printing more money and propping up the system...

I think a smart person would get in and get out of this gold thing... I've been dead on in my prediction of the housing market and the financial market is next....dig in your heels, it's going to get bumpy here real soon...

Answer 2

Although I own some gold and silver as an inflation hedge (less than 5% of portfolio) I am sceptical about gold going much higher since it hasnt been able to retest its recent highs of 1000. If gold can break through some of the resistance and move closer to 1000 it may head higher, but it looks like its consolidating and most likely the next move will be lower.

Answer 3

That's not much of a range, so it could obviously hit either...In the long run, I still like higher gold prices from here

Answer 4

I'm thinking that gold can still go higher too as long as interest rates stay pretty low.  When they increase it, gold will fall.  I also think that they will give more "welfare checks" in the future, and that is inflationary, and lets people pay the bills.

Gold will not become worthless like one poster says.  If we owe debts to other countries, we can just print up that amount and hand it over to them.  Simple as that and we have no debt, but massive amounts of inflation, and gold will go even higher in that situation.

Answer 5

Simply; it's going down.

The people living on borrowed time have a little while longer to reallocate thier "wealth".

Higher interest rates will be holding the reins when gold heads north again.