On Thu, 28 Jul 2011 21:05:07 -0400, wrote:

On Wed, 27 Jul 2011 20:22:48 -0600, Canuck57
wrote:

or http://tinyurl.com/3kqdb4o

Well, if the pattern persists and it should, gold should go to at least
$3500 before it peeks.

Gold is not an investment it is a trade.

You buy it when we have a recession and sell it when you see a real
change in how the economy s going.
In the 70s that $100 gold ended up peaking shortly after Reagan was
elected at almost $700. The next time was when we had the Reagan
recession and gold was $300 and crested around $600 when the recession
broke.
This time the "buy" was when the economy was growing around 2001,
again around $300. I am not sure where the top is but it will
certainly be after the US gets a handle on its unemployment problems
and corrals the debt. I fear we will be waiting for western Europe
too.
$3500 may be a bit high but $2000 is likely and $2500 not
unreasonable.
The strange thing is the gold bugs seem to know the housing boom was
not real. Look at the gold chart for the 2000s.

I have some silver coin at 5x face but not the pickup truck load I
should have bought

Awww... the guru screwed up.