Just for fun- Where is gold going?

Question

The dollar is firming, oil is falling, and gold has plummeted back down to The $850 an ounce range. Do you think this is a good price and that gold will go back up, or do you think we won't see those highs above $1,000. again? What facts do you have to support your opinion?

Answer 1

  Down with all the other commodities. Right now the economies around the world are slowing down, and therefore, the commodities are also falling. Gold used to trade between 400 - 300 and is overpriced right now. Gold has had it's rise; now it's time for it to fall.

Answer 2

Gold is what it is.  It is the dollar that has risen in value, for no other reason than irrational exuberance over its strength vs. the ailing Euro.

Has the US government stopped spending like a drunken sailor?  Nope.  Have we shut down the printing presses that are making the US Dollar strive for parity with the Zimbabwe dollar?  Nope.  Has the Fed decided to raise interest rates?  Nope.  I see no reason that gold will not make up all those losses and rise even higher.

It's a great time to buy.

Grandpa