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Gold bulls taking centre stage as BOA forecasts $2,400 an ounce

Posted on 20 September 2012 with 1 comment from readers

Gold hit a six-month high this week as the Bank of Japan joined central banks around the world with a further round of monetary easing. Dow Jones’s Francesca Freeman and David Cottle assess what this data is telling us.

ArabianMoney is a bit surprised not to see gold and silver a bit higher on all this money printing. But then it was expected and already in the price. We await something else to give bullion prices a push higher…

Posted on 20 September 2012 Categories: Gold & Silver, Investment Gurus, Video Channel

1 Comment posted by readers:

Comment by Bill in Slidell - 20 September 2012

I just realized that I predicted last fall that the Fed would do another round of QE this summer (I think I wrote around May or June?). I almost got it right. I never thought it would be ongoing though. That shows you how bad the global economy is.
Ben keeps buying, and gold could hit $3,000 in two to three years. That is my best guess.
Weekly jobless claims fell about 3,000 to 382,000. Still no good job creation. Housing in the US has apparently bottomed. It will start to take off late next year. Not like the boom, but much better than today. That will start to lower the US unemployment rate.
About 10,000 baby boomers like me are retiring daily now. That will continue for a long time. I’m joining the 47% of Americans who view ourselves as the victims, slackers and moochers Mitt decries, draining the productive workers with TWO government pensions. If you want to read how Mitt got so rich, read the http://www.rollingstone.com article by Matt Taibbi in their politics section, ‘Greed and DEBT: The True Story of Mitt Romney and Bain Capital’. It is a great summary of how those guys operate. I would have never guessed that you could get filthy rich by creating enormous amounts of debt. But only if you get your friends to write the tax laws. The Rolling Stone article is WELL worth your time, believe me.
Politicians are speculating on TV that we will avoid the fiscal cliff with a 6 month tax cut extension. Probably.

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