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he's wrong as well. he said gold will go up to 1k/oz, but actually metals have gone down tremendously. with the economy slowing down, industry around the wor
by sahaj 18y ago
he's wrong as well. he said gold will go up to 1k/oz, but actually metals have gone down tremendously. with the economy slowing down, industry around the world has slowed down, and the dollar has regained value.
now, i don't think the dollar will stay high for too long, unless drastic measures are taken by the US govt to cut spending, not print money, and create industry within the US).
another thing to watch out for is china. today they loosened licensing requirements for media (financial related data): http://www.nytimes.com/2008/11/14/business/media/14media.html?_r=1&partner=rss&emc=rss&oref=slogin http://www.nytimes.com/2008/11/14/business/media/14media.htm...
what this means is that they are trying to pull more investments and spending into their own country; this could hurt the dollar if they are successful. interesting thing to notice is that the dollar never really regained when compared to the yuan: http://finance.google.com/finance?q=usdcny http://finance.google.com/finance?q=usdcny
- RobertL 18y agoGood points sahaj. I stopped watching the business shows a long time ago because all the guests are just trying to sell the kinds of investments they profit from. What we're going through is a "liquidity crisis" more than a "recession" and that's why gold isn't doing much and commodities are going down. There simply isn't any money anywhere.
- larrykubin 18y agoGold did go up to about 1k/oz earlier this year. Check price of ticker GLD (which was his recommendation) around March. http://www.bostonherald.com/business/general/view.bg?articleid=1080185 http://www.bostonherald.com/business/general/view.bg?article... Now metals have gone down tremendously and the dollar is getting stronger, but his prediction was right.
- sahaj 18y agoby that logic, the other guys were right too, because most stocks were on their 52week high in march 2008.