Gold price headed for rmore falls in 2014

LONDON: Barring a late price surge, gold's value will suffer its first annual drop since the start of the millennium, while the precious metal risks further losses in 2014.

Gold stood at $1,205 an ounce Friday on the London Bullion Market, down almost 27 per cent in 2013 on weaker demand and easing inflation -- snapping twelve years of uninterrupted annual price growth.

That leaves gold, whose twin drivers are jewellery demand and inv ..

Read more at:
[economictimes.indiatimes.com]

i believe when this phony stock market run is over,gold will rise. The good news as a prospector,is it should get rid of some of the claim scammers and such.

I don't belive a word the "common " news puts out. Tell me why all the "east block" countries are sucking up all the gold they can!! They aren't stupid, 2014 will be an interesting year for the U.S and the Federal Reserve.

deathray Wrote:
-------------------------------------------------------
> i believe when this phony stock market run is
> over,gold will rise. The good news as a
> prospector,is it should get rid of some of the
> claim scammers and such.

I agree, the stock market is based on bogus information. I have several friends that are high up in both corporations and banks and they think it will fall apart in the near future.

Quick..... someone shoot the messenger.

Dew

markg Wrote:
-------------------------------------------------------
> deathray Wrote:
> --------------------------------------------------
> -----
> > i believe when this phony stock market run is
> > over,gold will rise. The good news as a
> > prospector,is it should get rid of some of the
> > claim scammers and such.
>
> I agree, the stock market is based on bogus
> information. I have several friends that are high
> up in both corporations and banks and they think
> it will fall apart in the near future.
de ja vue !

[www.bloomberg.com]



Hedge funds got less bullish on gold before prices dropped to the lowest level since 2010, leaving the metal poised for the worst annual loss in 32 years as investors dump bullion at a record pace.

Money managers reduced their net-long position by 2.8 percent to 32,524 futures and options in the week ended Dec. 17, U.S. Commodity Futures Trading Commission data show. Short holdings climbed 1.2 percent to 75,199, within 6 percent of the record reached in July. Net-bullish holdings across 18 U.S.- traded commodities rose 8.5 percent to a seven-week high, led by soybeans, natural gas and cotton.

Investors pulled $38.8 billion from gold funds this year, the most in data going back through 2000, according to EPFR Global, a research company. Futures settled at a three-year low on Dec. 19 in New York, a day after the Federal Reserve cut the pace of its monthly bond purchases. Prices plunged 37 percent since reaching a record in September 2011, U.S. equities climbed to an all-time high and the dollar is poised for its strongest annual performance since 2008.

I hope they knock the price down more..... I ain't done stackin yet!

A picture is worth a thousand words. How can the Chinese be wiser than we?

Given the state of things at present, $1200 an ounce for gold is about right. Stocks are roaring right now because that's the only place people can see any return on their money now that the panic buying of gold is over for the moment. The Fed will have no choice but to start raising interest rates in 2014. When that happens, anything is possible. For me, I will keep on buying gold and silver.