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Goldcorp Inc. Message Board

  • webuchadnezzar webuchadnezzar Jan 28, 2008 12:46 PM Flag

    The world won't notice when POG breaks $1,000



    Like hell, they won't! One scenario I foresee is this.....

    When gold closes above USD 1,000 the first time, the whole world is going to sit up and ask "Whoa! What the hell's happening with gold here?! Gold is going up like crazy! I should get in on this!"

    Once they read the explanations and see the news on TV, they'll start wondering if they need to take action. Then there will be the endless gold investment commercials (mostly scams) that will create still more demand. People who have never thought of buying gold in their entire lives will start asking for it....

    Anyway, my two cents.


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    • When gold first broke 100, it ran to 200 before retesting 100.

      Add a zero, and expect the same thing.

    • That 1000 mark might be a good sell signal for those who got into this market (physical) earlier.
      In any event, it may be wise to sell physical earlier before govt reclaims "its" gold for a new currency (see FDR).
      I remember being shocked when gold gurus sold at 400 and silver at 20 (Harry Browne) in '79 or '80. Not a bad call at a time when short term money was fetching double digit interest rates.
      Good luck,

      • 2 Replies to bluefish621
      • it is true.. you hardly hear a peep from CNBC

      • Wrong, don't sell physical, this is not the time to trade physical but to accumulate. Stocks, ETFs you can sell but not physical. You can argue that governments will seize gold but you have to remember that dollar isn't backed by gold anymore and they can't claim gold as needed reserve. PMs on hand might one day be used for trade before this thing is finished. At 1000/oz we may have a pullback or a parabolic jump -you pick. I will take some profits but in stocks not in physical and if we correct I will buy back and with profit I'll buy more physical.

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