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Re: Gold and Silver 

By: De_Composed in GRITZ | Recommend this post (2)
Fri, 14 Mar 25 4:08 PM | 19 view(s)
Boardmark this board | Grits Breakfast of Champeens! 		Msg. 05424 of 05458
(This msg. is a reply to 05422 by De_Composed)
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Re: “Gold”Gold hit a major milestone today, topping $3,000 for the first time. As with silver, it failed to hold on to its morning high - but having crossed the mark once, it's sure to do it again.

Conservatively, gold is likely to reach $3,200 this year. Goldman Sachs predicted $3,300 by EOY. Macquarie Group analysts are expecting $3,500, barring any progress in controlling the U.S. deficit. Then there are longer-term predictions of just about any price you can think of.

IMO, gold will always inversely correlate to the value of the dollar. The dollar is on a long-term path toward zero so... there you go.

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Re: Gold and Silver
By: De_Composed in GRITZ
Fri, 14 Mar 25 3:47 PM 		Msg. 05422 of 05458

Re: “ I therefore think we'll see silver at $34 later this month…”I wrote that on February 4th when silver was $32. My call was wrong, but I was sticking my neck out there in calling for a 6% climb in only 3 weeks.

Today silver hit my target, albeit briefly. I just thought I'd point that out. $34 is a long-term high for the metal, but not a record high thanks to the Hunt Brothers and their illegal attempt to corner the market back in the 1980s. (Someone remind me why what they did was illegal.) I think they elevated the price into the high $40s. It will likely be some time before silver's price tops that.

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