Re: Gold Blooshed

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Newager23

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Re: Gold Blooshed

posted on Apr 05, 2009 08:03PM

Not so fast on this gloomy gold outlook. Gold has lost $100 in a month because the stock market has been on tear (up 20%). As soon as the market turns, so will gold. This bear market rally will not have legs. The economy is dead in America and Europe, and it's not going to turn around this year. In a few weeks, gold will make another rally. The bull market in gold is not dead.

I would love to see $700 gold (since I am a buyer), but I doubt we will see it again. Buyers will come out if gold goes under $800. By year end the price will be over $1000 and will not look back.

The economy is in much more dire shape than is perceived. This is not good for base metals. I own NOT and FWR, but I am not happy. I loved Richard as the boss and hated to see him go. Mac seems like a worthy guy, but this market is ugly. I'm in really cheap, so it will be hard to lose money. I will hold and hope something happens -- preferably, someone finding more high grade nickel.

I hate to say it, but this economy is not coming back for a long time. Many people are expecting global growth in 2010, I'm not so sure. The financial mess has not been cleaned up. I'm expecting 2010 to be worse than 2009.