Don't think the Fed can taper, even serious talk of tapering sends the markets lower, QE is the only game in town, remove monetary stimulus and the economy shrivels up and rolls over
Never thought they could force gold prices down to this level, but here we are
I sold most of my CGR and a lot of BRD and bought more EXK, and it's on a 2-day run, was up over 11% yesterday, and it's up another 10% today, wow, they got a great CEO, who is also a geologist BTW
Sold some shares of it today and bought some PVG, they got the best drill results ever, and they also got a great CEO, the guy that used to head up SRSI, and also put in an order to buy more CRCUF, that stock is too cheap
still a shareholder here, and still think there's money to be made with CGR,
but the key is to buy the stock cheap, and it will have to get cheaper before my next purchase
I don't believe POG will dip below $1000 with Fed tappering.
However, this leading Canadian economist prediction is for POG $1000 in 5 years.
Canada's Leading Trade Economist Sees Gold Below $1,000
Aug 07, 2013
Guest(s): Peter Hall Chief Economist & Vice President - EDC
Kitco News’ Daniela Cambone interviews Export Development Canada’s Chief Economist and Vice President Peter Hall on the current state of the metals markets. Back in May, Hall forecasted a modest decline in commodity prices and said that any price spikes would be short-lived. Hall said that gold in the quadruple-digits zone was in an ‘emergency zone’ because people lacked confidence in the world financial system. Now that the economic recovery seems to be underway, Hall says he expects gold to reach the triple-digits zone within a 5 year timeframe. Hall also discusses the mining industry and what gold below $1,000 will mean for the sector. Tune in now to hear his take on precious metals and the global economy. Kitco News, August 7, 2013.