Any chances of gold touching $ 900 in near future?

Question

Any chances of gold touching $ 900 in near future?

Answer 1

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Answer 2

probably not the near feature. it's going down with oil and other commodities.  It will go back up and well over 1000 eventually

Answer 3

Probably several times - be careful

Answer 4

It might touch $900 by 3 months. There is enough geopolitical instability happening that gold could again be king.

Answer 5

It's been over $900 recently.  Gold guru Rob McEwen predicts gold will hit $1000 by the end of 2008, but short-term fluctuations are often difficult to predict. However, with the falling dollar, the uncertainty of the euro, and countries throughout the world moving away from the U.S. dollar as their reserve currency, it is quite possible gold will do well over the next couple years, but is anything but certain. McEwen predicts gold will hit $2000 by the end of 2010.

Answer 6

I'd say a reasonable chance. There ought to be some retracement against recent declines. Such retracement should be sufficient to take it near 900.

Answer 7

There's a chance, of course.

Good chance? Probably not.

Could it touch $500 in the near future? There's a chance, but not a good one there either.

Answer 8

I'm sure it will, and higher.

You have authored numerous questions about gold prices since you bought at $902.  Do you have a target price at which you plan to sell?

It's up to you, of course.

I'm much more worried about the health of the US dollar than the price of gold.

Grandpa

Answer 9

It depends on what you mean by near future. Of course, there is always a chance but right now, the signs are not pointed in the up direction.  Oil is headed down, the dollar is strengthening, Iraq seems to be slowly stabilizing and the Olympics tend to make people feel upbeat. I would expect gold to continue its current downward trend.

Answer 10

Unless the US dollar hits a down turn, gold will not go to $900

it is more likely to have a range of 775-850

The speculators have left

commodities are out of flavor

Until the credit mess is resolved, don't expect a resumption of the up commodity cycle

Try 2010

Answer 11

Gold, oil, and commodities were momentum plays. When momentum plays lose steam, run. Gold won't hit $900 again for years.